Electrical pricing

Mikeyshragh

Hi can I get some advise please. I'm starting working on my own. I'm contracting off a builder all through the books. And he wants me to price a few jobs. I was thinking €25 per hour. Is that ok or should I be charging more. It's my first time pricing so I'm not sure of the hourly rate. Thanks

hufpc8w3adnk65

Mikeyshragh wrote: »

Hi can I get some advise please. I'm starting working on my own. I'm contracting off a builder all through the books. And he wants me to price a few jobs. I was thinking €25 per hour. Is that ok or should I be charging more. It's my first time pricing so I'm not sure of the hourly rate. Thanks

So that's €1000 a week.
€4000 a month.
€52000 a year. Sounds great BUT take away Tax ,PRSI, USC, pension, insurance, diesel, van payments/costs/tyres/service , tools,drills,test meters, fees for testing courses to certify works. Bills from your accountant (you'll need one) buying laptop, mobile phone, mobile phone bill monthly. Reci fees, advertising fees, Start up money etc etc etc


I know lads charging close on €40 an hour labour/travel and struggling to make a profit.

Mikeyshragh

Thanks for ur reply. That's why I ask. I had no idea. It's all new to me if be gone under in no time!! Thanks again. So I'd be looking at €40 an hour when pricing a job in future?

MrMac84 wrote: »

So that's €1000 a week.
€4000 a month.
€52000 a year. Sounds great BUT take away Tax ,PRSI, USC, pension, insurance, diesel, van payments/costs/tyres/service , tools,drills,test meters, fees for testing courses to certify works. Bills from your accountant (you'll need one) buying laptop, mobile phone, mobile phone bill monthly. Reci fees, advertising fees, Start up money etc etc etc


I know lads charging close on €40 an hour labour/travel and struggling to make a profit.

ptogher14

I'm a PAYE sparks. I'm on close to 25 Euro an hour and I've no over heads. No insurance, not registered, not a member of reci. All my training is paid for by my employer, all power tools are supplied etc etc. I'd be upping your rate.

hufpc8w3adnk65

Mikeyshragh wrote: »

Thanks for ur reply. That's why I ask. I had no idea. It's all new to me if be gone under in no time!! Thanks again. So I'd be looking at €40 an hour when pricing a job in future?

Read again €40 and lads are struggling at that. As was said above €25 an hour labour alone (before usc and prsi I assume) isn't bad. Anything less then €20 your wasting your time. Besides pricing work often cannot be done by time and materials a lot of sparks would do a price for a builder like this (figures not exact)
Double socket €50
Spur €40
Lighting pendant €40
Lighting switch €30
Single socket €40
DB €800
Cooker switch €30
Etc etc etc

Mikeyshragh

This is brilliant information. What about a cooker and a shower would u know?

MrMac84 wrote: »

Read again €40 and lads are struggling at that. As was said above €25 an hour (before usc and prsi I assume) isn't bad. Anything else your wasting your time. Besides pricing work often cannot be done by time and materials a lot of sparks would do a price for a builder like this (figures not exact)
Double socket €50
Spur €40
Lighting pendant €40
Lighting switch €30
Single socket €40
DB €800
Cooker switch €30
Etc etc etc

Mikeyshragh

Mikeyshragh wrote: »

This is brilliant information. What about a cooker and a shower would u know?

Sorry see the cooker there!!! Would a shower be the same seen as you have to run 10sq?

Mikeyshragh

Mikeyshragh wrote: »

This is brilliant information. What about a cooker and a shower would u know?

Sorry see the cooker there!!! Would a shower be the same seen as you have to run 10sq?

Calahonda52

Mikeyshragh wrote: »

Hi can I get some advise please. I'm starting working on my own. I'm contracting off a builder all through the books. And he wants me to price a few jobs. I was thinking €25 per hour. Is that ok or should I be charging more. It's my first time pricing so I'm not sure of the hourly rate. Thanks

Good luck with this.
As an accountant my advice in all such cases is always keep you cost base as variable as possible and not to be ramping up fixed expenses and big capital spend up front.
Simple things like bill pay vs PAYG on the cell phone.

have you thought about sole trader vs seeing up a single director company: there are pros and cons.
Also thing about if a " trade van" or an ordinary car will do you.
Again there are pros and cons: e.g. you can't bring the kids to school in the "trade van"

Will you be buying the material on your credit/cash outlay?

Just to say be careful about pub talk telling you what you can claim back as expenses. Be especially careful about mileage: if you are working on one site say for a month and all your work is there, then that your place of work and no mileage can be claimed to/from home.

hufpc8w3adnk65

Mikeyshragh wrote: »

This is brilliant information. What about a cooker and a shower would u know?

Those figures aren't exact please don't use them... They are examples. You'd need to work out your self how much you'd need to charge to be profitable. Remember (example) €50 for a double socket may include socket,box,screws,sleving,cable, conduit, clips and all labour (perhaps chasing) involved. I'm sure some lads here charge more then €50 and others below...

Sounds to me like you've a lot to work out. Be very careful.