I'm a self employed contractor charging too little. Overhead is tough. Think I made more being employed.
What's your opinion on a rate to charge for a very fast and experienced Carpenter with a truck, fully equipped cargo trailer and dump trailer?
Definitely $45 to $65 depending on the job. $15 won't even pay for your gas. That's what a handyman would charge. You went to school and got a license. You've earned it plus you charge a mark up on materials and subs for management.
Hope that helps. You should give me a call maybe we could help each other out.
I am a handyman in Alberta and I charge $45 plus per hour. The plus coomes in depending on the degree of difficulty or other factor. Even at that, I don't make a lot of money due to expenses.
As mentioned, if you are a licensed carpenter, advertise as such and charge whatever your unon rate would be. (I would think ariound $65). Remember that you're in the business to make a dollar not to just pass the time away. Don't be greedy, but be fair, especially to yourself.
Do some reading of Michael Stones book Mark up and Profit to help you understand your business numbers. Although American publication it still applies to the Canadian market.
Another good resource - Re-modelers Advantage. American again but good solid advice
You've got to now your TOTAL overhead numbers. Because you need to know what kind of mark up is required to ensure that those costs are covered and paid for. Also you need to have a profit so what kind of mark up do you want to ensure there is money to grow and expand your business or buy tools, etc?
If you don't understand mark up; then you got some home work and reading to do.
As many of the Pros have already stated, you need to be charging between 45-60 per hour this isn't a part time job or a hobby. If you charge too low you will get every crap job out there.
The key to being a good and busy contractor is always be true to the customer, always call them back and be fair to yourself and them, contactors who low ball jobs cut corners or jack up pricing once they have started or worst just walk of the job. Always justify your price, do a good job and you will always be busy.
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