Tips For Calculating What Electricians in Kansas City Should Charge

 It is a question that haunts many electricians in this noble profession. In general, it is an open secret to know the answer, some who have already been in the industry know and set trends in prices, others who are starting are exploring different routes to offer a cost that allows them to have sufficient income.

 

Calculating costs involves estimating the material that will be used, the labor, the necessary tools and the time in which you will carry out your work. A realistic calculation will make the difference between a proposal that is well paid or a very cheap one, in which you have to put your money.

There are different methodologies that a Kansas City electrician can use for prices calculation, for example, the price per hour method which you will find below.

 

Price per hour method: depending on what you want to earn per month

 

1.- We recommend you look at the competitor price, but only as a reference

You will find people who offer a price similar to yours, while others offer a price 10 times more than you thought, but be calm, think about the infrastructure and the means you have to solve the work customer’s request.

 

2.- Think about the amount of money you want to earn monthly [Price per hour]

Attention! - Be careful, the amount you plan to earn monthly must cover certain expenses that are necessary for your survival. We will explain below, take into account the costs of:

 

· The employee fee.

· The tax advisor.

· The office.

· The mobile.

· The internet connection.

· Transportation (Gasoline, if you have your own car or the public transportation cost).

 

Now add the following percentages:

· 10% for your retirement; you will have the same strength always.

· 5% for the emergency fund, remember that no one is going to pay for you when you are sick or have an emergency.

· X% for taxes, this is independent of the tax advisor; the amount varies by region.

 

3.- Think about the number of hours you want to be working during the month

Attention! - Yes, there are many factors that you should think about; here are some of them:

 

· Take into account the time you are going to spend visiting potential and not-so-potential clients, the proposals you are going to present, the negotiation and everything that entails.

· The time you are going to spend updating yourself, today there are many resources in person and online.

· Marketing either in a traditional way, visiting some forums or exhibitions; or online, editing your website or reviewing progress.

· Networking, it is good to keep it in mind and give yourself the opportunity to meet new people.

 

At the end of the day, at least 40% or 50% of your time is spent on these activities; the rest you have to bill with your direct services; think about a suitable time and plan your activities well.

 

4.- So how much should I charge?

In the electricity sector there are jobs that are usually quick if you already have a certain skill; others require time and dedication due to how complex it can be.

 

Think about your skills and knowledge as an electrician; determine the activities that you know you can accomplish in some required job; as you progress and learn, the jobs you do will be worth more.

 

We recommend this formula, which you can modify according to your context:

[PRICE PER WORKING HOUR = MONTHLY GOAL / ACTUAL WORKING HOURS]

This formula is valid when you want to charge per hour.

 

Now, if you are searching for an electrician near me, then contact us, we have excellent prices.