What sort of prices should I be charging?

[Kjb Electrical]

Hi all, I was wondering how much hourly rate I should be charging? I recently quoted a job only to be questioned if I was an electrician due to being too cheap.
I’m thinking of upping my rates but want to keep at an honest and fair price.

 

[MDJ]

If anyone self-employed earns less than £50-£60k then I cannot see the point.

Yup sparks around here earn 30k-35K basic without OT, Good ones (Great ones lol) like me are at 50K Plus, so 50-60K self employed is about right, up north it will be less, and London more I suspect

 

[Octopus]

If anyone self-employed earns less than £50-£60k then I cannot see the point.

Which planet are you on?

Can't imagine many SE people on here have earns of this level and looking at some of the jobs that people see advertised, being employed won't yield much either!

 

[MDJ]

If anyone self-employed earns less than £50-£60k then I cannot see the point.

Yup sparks around here earn 30k-35K basic without OT, Good ones (Great ones lol) like me are at 50K Plus, so 50-60K self employed is about right, up north it will be less, and London more I suspect

Which planet are you on?

Can't imagine many SE people on here have earns of this level and looking at some of the jobs that people see advertised, being employed won't yield much either!

25 quid an hour self emplyed isn't unusual around here

 

[Nigel]

Which planet are you on?

Can't imagine many SE people on here have earns of this level and looking at some of the jobs that people see advertised, being employed won't yield much either!

A quick look on-line and managers jobs are at least £50k and that is far from London. In London it is around the £80k mark.

To not have to worry about where the next job is coming from or HMRC and needing to always have your phone on you needs to pay.

 

[Octopus]

A quick look on-line and managers jobs are at least £50k and that is far from London. In London it is around the £80k mark.

To not have to worry about where the next job is coming from or HMRC and needing to always have your phone on you needs to pay.

I thought we were talking about sparking ..................

 

[telectrix]

i only do 2 - 3 days a week these days. keeps the mobile phone on and the van on the road. anythings better than watching jeremy kyle and loose women on the idiot box.

 

[Nigel]

I thought we were talking about sparking ..................

Would you not think a person running their own business could also be a manager?

 

[Octopus]

Would you not think a person running their own business could also be a manager?

You quoted figures for employed managers

Being SE , one man band, of course you have to be a manager ..... but that's very different.

 

[Leesparkykent]

Going rate around my way is 200-240 a day. I’ve just done a rewire and priced per point when I quoted. I’ve just worked out the man hours It took and it equates to earning £293 a day or £36.62 an hour. I very rarely work out materials and labour when pricing. I stick to my trusty spread sheet of prices per point and this is probably what works in my favor....As most of my work is for builders/developers I’m pretty much guaranteed the work if they win it so not really competing. When it comes to private customers I would say I win 75-80% of what I quote but would say my company image and approach attracts the sort of customer I’m after. I’m not interested in competing with the prices of some of the bottom feeders around here.

 

[Leesparkykent]

I'm not vat registered

You must not be working full weeks or doing a lot for pound notes as at your hourly rate you would nearly hit the VAT threshold alone without any material based on 44weeks a year.

 

[Leesparkykent]

If anyone self-employed earns less than £50-£60k then I cannot see the point.

I totally agree.

 

[Octopus]

You must not be working full weeks or doing a lot for pound notes as at your hourly rate you would nearly hit the VAT threshold alone without any material based on 44weeks a year.

I don't think he's doing 7.5 hour or 8 hour days @ £45 per day very day .....

 

[Leesparkykent]

I don't think he's doing 7.5 hour or 8 hour days @ £45 per day very day .....

Maybe not but then his hourly rate is not £45 an hour if its averaged out across day rates and an hourly rate that he’s charging for smaller jobs maybe.

 

[Anthony S]

If some of the sparks on this forum are earning some of the figures being bounded about they should be mortgage free living in a reasonable size house and in a nice area, living a decent life style with two good holidays a year by the age of 40 years old or if not a lot sooner I would imagine.
Good Luck to them if they are.

 

[Octopus]

If some of the sparks on this forum are earning some of the figures being bounded about they should be mortgage free living in a reasonable size house and in a nice area, living a decent life style with two good holidays a year by the age of 40 years old or if not a lot sooner I would imagine.
Good Luck to them if they are.

What planet are you on? Do you have kids

£110K mortgage
2 kids (eldest just started work & daughter going to uni next year so that's about £125 per week for her we have to find)
no fancy holidays
wife works as a midwife (so very well paid)

We don't have much money to spare

 

[Octopus]

Maybe not but then his hourly rate is not £45 an hour if its averaged out across day rates and an hourly rate that he’s charging for smaller jobs maybe.

I quite agree.

A rate of £45 per hour, is only £45 per hour if you are doing that 7.5 hours per day, 5 days per week, 44 weeks of the year.

 

[Dave OCD]

I'm avoiding VAT registration as long as possible, hate the idea of charging 20% more on labour and being less competitive and an unpaid tax collector. But I gather the turnover for having to register is based on ANY consecutive 12 month period so you could drift into it quite easily.

 

[Octopus]

I'm avoiding VAT registration as long as possible, hate the idea of charging 20% more on labour and being less competitive and an unpaid tax collector. But I gather the turnover for having to register is based on ANY consecutive 12 month period so you could drift into it quite easily.

That's exactly right ............ you can't decide what the 12 months are but HMRC can ........... to suit them

I can't see how anyone can employ somebody and not be VAT registered

 

[Anthony S]

What planet are you on? Do you have kids

£110K mortgage
2 kids (eldest just started work & daughter going to uni next year so that's about £125 per week for her we have to find)
no fancy holidays
wife works as a midwife (so very well paid)

We don't have much money to spare

I'm not on about you I'm just refering to the 50/60k a year, that's a lot of money to earn for one man band.

 

[Dave OCD]

My son is 19 now and costing me around £1300 a month with wages and training fees, but obviously he's getting more useful too.
With all the overheads all I do is make a living, the business account ends up about the same every month after all the bills are paid, low.

 

[Anthony S]

What's a living to you ?

 

[Octopus]

I'm not on about you I'm just refering to the 50/60k a year, that's a lot of money to earn for one man band.

And how many one man band sparks are earning this much?

very few IMHO

 

[Octopus]

What's a living to you ?

What I'm earning.

And no I'm not a high rate tax payer!

 

[Dave OCD]

What's a living to you ?

Enough to pay the bills, keep a roof over your head, and eat.
We could never afford a fancy holiday and my wife works full time as well.

 

[Leesparkykent]

And how many one man band sparks are earning this much?

very few IMHO

Probably couldn’t as a one man band but with an apprentice you could achieve the lower end of what’s been quoted imo.

 

[Anthony S]

You get people on here quoting figures of 50/60k for self employed other wise not worth it. That's all I was refering too, so its kind of trying to put people down if they can't or don't earn it imo.

 

[Octopus]

You get people on here quoting figures of 50/60k for self employed other wise not worth it. That's all I was refering too, so its kind of trying to put people down if they can't or don't earn it imo.

They are quoting figures out of thin air ...................

I would say you need to be making £30K to make it worthwhile MINIMUM ............ and if you go SE, it could take 3 to 5 years to achieve this ............. yet in some parts of the UK it may never be achievable

 

[Anthony S]

I know, talk telephone numbers that why I said about mortgage free, holidays etc

 

[Leesparkykent]

They are quoting figures out of thin air ...................

I would say you need to be making £30K to make it worthwhile MINIMUM ............ and if you go SE, it could take 3 to 5 years to achieve this ............. yet in some parts of the UK it may never be achievable

I have a subby that earnt 39K from me last year.

 

[Octopus]

I know, talk telephone numbers that why I said about mortgage free, holidays etc

Some people quote their turnover as there earnings! They forget about their overheads and parts for resale

Some people don't understand the difference between deficit and debt

Go figure ..............