Bundy mate , you are too cheap

[Dustydazzler]

Too cheap Imo

I am around 30% dearer per point for a chased in re-wire

 

[nicebutdim]

Too cheap Imo

I am around 30% dearer per point for a chased in re-wire

You're also not in Staffordshire.

 

[Pretty Mouth]

You're also not in Staffordshire.

I lived in Stafford 6 years back, for a year or so. Lovely place, but by no means affluent. I'd assume that Bundy is charging the upper limit of what's acceptable up there

 

[Risteard]

I lived in Stafford 6 years back, for a year or so. Lovely place, but by no means affluent. I'd assume that Bundy is charging the upper limit of what's acceptable up there

Perhaps, but I'm in a very socially deprived area and consider some of the prices he mentioned to be too low, and in some cases far too low. For instance, travelling somewhere to change a pendant for £35 - my call-out fee would be double that. Also, adding extra switch points for £20 - that's at least three times too cheap in my view.

But at the end of the day I can't answer for what works for him, so I'll just wear a balaclava attending customers' properties instead.

 

[telectrix]

round here £45 is standard for a local call-out. swapping accessories would be £45 +materials for 1st one, then £20 each for additional ones (+cost of accessory).

 

[swaRRR]

It's the Amazon business model. Be cheaper than everyone else but do more volume, corner the market.

 

[Dustydazzler]

When I started out self deployed I was very cheap for my area , I never lost a job I priced and my hourly rate was very cheap for call-out so much so I had people offer to pay me more than I was billing.
I was frightened to charge more as I was frightened that I might lose a job to a rival electrician or handyman. Which actually backfired in the end as I was so busy I was killing myself to actually finish all the jobs I had booked in each month. I really needed an 8 day week back then.
Now I have the opposite ethos , I price high and am happy to work 4 days sometimes even 3 days per week as the money I charge pays me a decent weeks wages.
Much better this way Imo and better life balance

 

[123]

Perhaps, but I'm in a very socially deprived area and consider some of the prices he mentioned to be too low, and in some cases far too low. For instance, travelling somewhere to change a pendant for £35 - my call-out fee would be double that. Also, adding extra switch points for £20 - that's at least three times too cheap in my view.

But at the end of the day I can't answer for what works for him, so I'll just wear a balaclava attending customers' properties instead.

I wonder how that would go down in many parts of Northern Ireland

 

[LukeD]

When I started out self deployed I was very cheap for my area , I never lost a job I priced and my hourly rate was very cheap for call-out so much so I had people offer to pay me more than I was billing.
I was frightened to charge more as I was frightened that I might lose a job to a rival electrician or handyman. Which actually backfired in the end as I was so busy I was killing myself to actually finish all the jobs I had booked in each month. I really needed an 8 day week back then.
Now I have the opposite ethos , I price high and am happy to work 4 days sometimes even 3 days per week as the money I charge pays me a decent weeks wages.
Much better this way Imo and better life balance

100% too cheap means insecure .

 

[Aaron b]

Perhaps, but I'm in a very socially deprived area and consider some of the prices he mentioned to be too low, and in some cases far too low. For instance, travelling somewhere to change a pendant for £35 - my call-out fee would be double that. Also, adding extra switch points for £20 - that's at least three times too cheap in my view.

But at the end of the day I can't answer for what works for him, so I'll just wear a balaclava attending customers' properties instead.

Perhaps this still applies but the prices are for a rewire not just adding another pendant. For spots for instance, another light would mostly be materials

 

[123]

Perhaps this still applies but the prices are for a rewire not just adding another pendant. For spots for instance, another light would mostly be materials

Watch the video towards the end, he says it's £35 to change a pendant over, that includes going to the job, it's not as part of rewire costings.

 

[Aaron b]

Watch the video towards the end, he says it's £35 to change a pendant over, that includes going to the job, it's not as part of rewire costings.

Ah I see. That probably wouldn't be worth traveling for but I see how it would be good for getting your business out there and if it's on the way to something else I would do it.

 

[nicebutdim]

It's the Amazon business model. Be cheaper than everyone else but do more volume, corner the market.

That philosophy can work well for large operations, but for small (or one man) operators it generally doesn't end well. No greater fool than a busy fool.

 

[Diddy]

Gawd, I price high, Target well healed customers, happy to work 3 days a week. People wanting me to do a job will pay me and all my overheads plus a wage plus profit. I lose lots of jobs on price, I couldn't care less to be honest. Shop at Aldi's or shop at Waitrose customers choice. I don't invent work, I have donated work to good causes (half rewired old girls house while she was in hospital recovering from hip operation...just didn't want to large it up on DIY sos or whatever it's called lol. That was actually all arranged by a taxi driver who used to pick her up weekly and ontop of that he went free of charge every day and got her morning roles...He told me what happened and asked me to have a look and i just did it.

What gets me is some sparks local have told potential customers that I am super expensive and a rip off merchant....That is just ----. They are actually mugs and can't figure out the difference between Self employ, Subbying and PAYE. I NEVER invent work, I give as much cooling off period as the job in hand allows.

 

[Pretty Mouth]

It's great if you can target the high-end market with high-end pricing. Less hours for more money, and your estimating is a doddle. You don't have to be precise because you can absorb any inaccuracies in the high margins.

However, in any area there is a finite amount of this work available. It may be that your competitors have this corner of the market covered already, so you find yourself setting your sights lower. Somewhere like Stafford, the bulk of the market is working class, and they will tend to shop at Aldi rather than Waitrose, not necessarily through choice. (before someone points it out, I know, there is no Waitrose in Stafford)

Funny, the area that I'm in now is affluent, there is a lot of wealth here, yet still I find I have to be competitive. Plenty of ordinary folk that find their money gets swallowed up by the higher cost of living here won't pay as much, but also the rich too. The types that employ a 'lighting designer' to design the garden lighting for their £2 million + house, then shop around for the cheapest quote to install. There's some tight sods around, I can tell you that.

 

[swaRRR]

When I started out self deployed I was very cheap for my area , I never lost a job I priced and my hourly rate was very cheap for call-out so much so I had people offer to pay me more than I was billing.
I was frightened to charge more as I was frightened that I might lose a job to a rival electrician or handyman. Which actually backfired in the end as I was so busy I was killing myself to actually finish all the jobs I had booked in each month. I really needed an 8 day week back then.
Now I have the opposite ethos , I price high and am happy to work 4 days sometimes even 3 days per week as the money I charge pays me a decent weeks wages.
Much better this way Imo and better life balance

Yep that's my philosophy too - i'd rather work 6 months of the year at £50 an hour than 12 months at £22 plus overtime. I want to work as little as is humanly possible for us to survive as a family. The rest is just gravy on top.

 

[swaRRR]

That philosophy can work well for large operations, but for small (or one man) operators it generally doesn't end well. No greater fool than a busy fool.

Bundy seems to be doing alright out of it, and if more business savvy could likely expand and start really scooping up work at those prices - is 'famous' on youtube, likeable guy, has a good rep, is cheap, does good work....customers would lap him up. Like Dusty said though personally i'd rather take the opposite approach, charge what i'm worth and work less.

 

[Dustydazzler]

Yep that's my philosophy too - i'd rather work 6 months of the year at £50 an hour than 12 months at £22 plus overtime. I want to work as little as is humanly possible for us to survive as a family. The rest is just gravy on top.

I fully agree , but it does take time to reach this level where you are comfortable charging more and working less.
I am now in a position that don't need to win every job and I don't need to take on jobs that look a pain in the arse.
When you are just starting out its more difficult to turn work away as you fear the unknown that you might have a quiet week etc.
Now I relish the quiet weeks where I can go fishing or spend time at home knowing the work I did earlier in the month has already covered me a months salary

 

[swaRRR]

Gawd, I price high, Target well healed customers, happy to work 3 days a week. People wanting me to do a job will pay me and all my overheads plus a wage plus profit. I lose lots of jobs on price, I couldn't care less to be honest. Shop at Aldi's or shop at Waitrose customers choice. I don't invent work, I have donated work to good causes (half rewired old girls house while she was in hospital recovering from hip operation...just didn't want to large it up on DIY sos or whatever it's called lol. That was actually all arranged by a taxi driver who used to pick her up weekly and ontop of that he went free of charge every day and got her morning roles...He told me what happened and asked me to have a look and i just did it.

What gets me is some sparks local have told potential customers that I am super expensive and a rip off merchant....That is just ----. They are actually mugs and can't figure out the difference between Self employ, Subbying and PAYE. I NEVER invent work, I give as much cooling off period as the job in hand allows.

I know this is pedantic but i just want to point out the old Aldi adage is outdated - Aldi is really high quality food and Waitrose sells the same crap as everywhere else just more expensive.

In Germany, Aldi is like Sainsbury's.

My father in law shops in Waitrose. Doesn't like it when i point out a loaf of bread at 50p dearer is still just mashed up grass seed no matter where you buy it.

 

[Dustydazzler]

I have every supermarket within a 5 min drive and a choose to shop in Aldi , good value , good quality and no frills suits me fine