Any help with pricing?

[Doninic32]

Hi I've just started my own business on a self employed basis. I'm Part P covered by NAPIT and fully qualified to NVQ 3 and 17 th Edition. I'm pretty well experienced in most aspects of the trade. I'm currently pricing at £20 an hour and £35 for the first hour. I need a bit of help really as to what I should be marking up on my materials etc.
Any advice would be welcome thanks.

 

[telectrix]

anywhere between 10% and 25%. enough to allow for the cost of ordering and collecting.

 

[Doninic32]

Thanks for the reply.Do you think that my hourly rate is about right for the East Anglian area? I work from home and don't have too much in overheads.

 

[telectrix]

about right, if slightly low. for large jobs £20/hour is OK, but if you have a job taking, for example, 5 hours, you can't do anything else in that day so i'd up the rate to £25-£30

 

[Octopus]

Thanks for the reply.Do you think that my hourly rate is about right for the East Anglian area? I work from home and don't have too much in overheads.

This is where you need to start.

List all your overheads, don't forget to allow for advertising etc, then take the total then add on your "required" gross salarty then divide by 12 and divide by 18 - that will give you your target gross overheads per hour.

I run from home and my annual overheads are about £500 per month.

 

[telectrix]

about same as mine, murdoch. i allow £100/week for overheads.

 

[Octopus]

Mind you, if you are starting out you will need more for advertising and buying tools, so add a couple of grand per year is probably about right.

 

[daniel198207]

good luck, ive been doing it for 3 years now.

 

[marcusone]

Good luck Dominic. One thing to consider.... Any big jobs get a deposit that at the least covers the materials. Long painful story from my early days starting out but I learnt this from experience.