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I couldn't pass this up

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  • #16
    Re: I couldn't pass this up

    Hi Duck,I am the only one doing the plumbing. But My Son gets over $80,000. medical ,dental,much time off, and allways the same check, if we're slow. Now that that was a reach for Me to share that.
    Will You step up ,and do the same ??
    I can build anything You want , if you draw a picture of it , on the back of a big enough check .

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    • #17
      Re: I couldn't pass this up

      Thank's Master , You're the real deal alright. Iwas taught to estimate a lot and do a little for good money. Also You should be getting 1 out of 5 jobs You estimate. Otherwise You are giving it away. Funny, My current struct. steel job was underbid. It's hard to estimate My welding, Mag drilling time after all these Years. Are You in a high income area of N.H.?.
      Grew up in Mass. , Enjoyed camping and fishing in N.H. . Never visited Your town. Tool
      I can build anything You want , if you draw a picture of it , on the back of a big enough check .

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      • #18
        Re: I couldn't pass this up

        Originally posted by toolaholic View Post
        Hi Duck,I am the only one doing the plumbing. But My Son gets over $80,000. medical ,dental,much time off, and allways the same check, if we're slow. Now that that was a reach for Me to share that.
        Will You step up ,and do the same ??
        In fact, I've been considering it.
        Been considering getting my HIC license and cutting out the middleman.

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        • #19
          Re: I couldn't pass this up

          Originally posted by toolaholic View Post
          Thank's Master , You're the real deal alright. Iwas taught to estimate a lot and do a little for good money. Also You should be getting 1 out of 5 jobs You estimate. Otherwise You are giving it away. Funny, My current struct. steel job was underbid. It's hard to estimate My welding, Mag drilling time after all these Years. Are You in a high income area of N.H.?.
          Grew up in Mass. , Enjoyed camping and fishing in N.H. . Never visited Your town. Tool

          Actually, the industry standard is 10%...1 in 10 for non emergency/non-service work.
          I remember telling a friend that I was getting 1 in 2 on larger bid type jobs like remodels & boilers when I first started, I thought he'd be impressed with my salesmanship...instead he told me I might want to recheck my pricing.
          After crunching numbers & going over records, I realized I was appealing to many customers who's primary concern was price.
          My mistake was trying to get the work in to keep my ad budget lower...I learned I was having the opposite effect.

          I think Service guy is the one with the exact same outlook as me, the customers I take on now are an investment in my future business in terms of repeat and referral work.
          The low price bargain hunters will always expect low prices, they'll always tell uncle Joe about the low priced plumber they use when he needs a plumber... which inevitably will make or break me.
          I'm better off to let them go to my competition & eat the short-term cost in advertizing to build a more prosperous future.

          NHMasters opening post completely verifies this concept...if I'm panicking and dropping prices to get work and it takes me twice the jobs to make as much as my competitors, I have to work a 12 hour day to make what the next guy makes in a 6 hour day...quite frankly my back, knee's and joints cannot take that any more.

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          • #20
            Re: I couldn't pass this up

            Sounds like things are starting to get off the ground Duck.You appear a fair and prudent man.Congratulations.

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            • #21
              Re: I couldn't pass this up

              I kind of live very near the filthy rich but Rochester is definatly not on that list.

              I always get a bet nervous if we start getting too many signed contracts because it makes me second guess my pricing.

              Truthfully though, it has taken a lot of years to change my attitude about this though. I used to swett estimates and beat myself up if I lost one. I finally realized that I don't want most of them anyway and if I have to do them at a cut rate I want them even less.
              Did you ever take on a job that you under bid and as you're buying the materials you realize the profit margin is getting less and less. So you have no enthusiasm for the job and let it drag on and on, which cost's you more and more, but you just can't seem to get your *** in gear and finish the damn thing. So the customer calls you and bitches and then you get pissed at the customer and the whole thing just goes south. That's why I try very very hard to never under bid jobs. Better to be high and loose it, than be low and loose money, and your temper.
              sigpic

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              • #22
                Re: I couldn't pass this up

                Being fairly new in business I am still amazed each month at how high operating expenses are, even for a small business.
                It feels great to be depositing a few thousand dollars into my business account each week...but it feels awful when I run the numbers at the end of the month and realize that after expenses I am only taking home a small amount of money ...but thats life with a startup business, things are starting to pick up and soon I should be working more fulltime and actually making a decent profit for a change!
                Water Heater Reviews & Water Heater Information

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                • #23
                  Re: I couldn't pass this up

                  yea, If you just make a commitment to do uncompromizing, quality work it doesn't take long before you will be well established. It's really all about excellence in service. That's all we really can give above quality materials.
                  sigpic

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                  • #24
                    Re: I couldn't pass this up

                    NH Master,You're spot on! That is just how one of My last jobs went.took for ever to get out of there.
                    I can build anything You want , if you draw a picture of it , on the back of a big enough check .

                    Comment


                    • #25
                      Re: I couldn't pass this up

                      Originally posted by VASandy View Post
                      I'll have to give that a more careful read. It's appropriate for any business. Running a small computer consulting business out here in the stix, it's always difficult to set prices and rates. I'm at $70/hr for my services, and generally that pays ok. It'll cover the transport costs to and from the client and give me some real money in profit. What I always have a hard time with is parts prices. How much do I charge for a replacement drive or RAM or whatever? For new items, I've been charging what they cost me, including shipping. This is the "stupid curve" going rate thing. I do get the installation time fee, but it's definitely not in my interest to replace parts. This makes me try to find a way to fix what they have, however, instead of replacing.
                      Sandy,

                      I wouldn't look at it as dumb just passing along parts costs and charging for installation. Your value add isn't really in buying and marking up computer parts; it is in your ability to diagnose what the problem is and then replace the part (hopefully) without frying the system. Not sure why it disincentivizes you to replace the parts though. Seems like your fee would be roughly equal either way.

                      I also don't think that the value a plumber provides is buying X at the supply house and marking it up to a price higher than I would pay, but their experience diagnosing problems with and installing X.

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                      • #26
                        Re: I couldn't pass this up

                        Originally posted by cpw View Post
                        Sandy,

                        I wouldn't look at it as dumb just passing along parts costs and charging for installation. Your value add isn't really in buying and marking up computer parts; it is in your ability to diagnose what the problem is and then replace the part (hopefully) without frying the system. Not sure why it disincentivizes you to replace the parts though. Seems like your fee would be roughly equal either way.

                        I also don't think that the value a plumber provides is buying X at the supply house and marking it up to a price higher than I would pay, but their experience diagnosing problems with and installing X.
                        When we buy parts, fixtures or whatever at the supply house it is important that we mark them up. If there is a defect on the part, or fixture WE are responsible for making it correct, which requires a return trip to the jobsite, supply house and jobsite again. This should not just apply to plumbers but anyone in any type of service business.

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