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Old 12-19-2016, 06:06 PM   #1
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I'm actually only in my first year as a remodeler/handyman. I retired from a big company 3 years ago and decided it would be a good thing to try my hand at a small business. So far so good. I enjoy working with my customers and feel I earn a good wage, as much as when I was "working". It amazes me when I win a bid and find out some of my competitors were bidding 3 or 4 times what I end up with. So someone out there is making a lot of money once in a while at least.
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Old 12-19-2016, 07:34 PM   #2
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Welcome to paint talk. Congratulations on starting your own business,I wish you well my friend and hope 2017 is a prosperous year for you.
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Old 12-19-2016, 07:37 PM   #3
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Quote:
Originally Posted by wood1954 View Post
I'm actually only in my first year as a remodeler/handyman. I retired from a big company 3 years ago and decided it would be a good thing to try my hand at a small business. So far so good. I enjoy working with my customers and feel I earn a good wage, as much as when I was "working". It amazes me when I win a bid and find out some of my competitors were bidding 3 or 4 times what I end up with. So someone out there is making a lot of money once in a while at least.
Welcome to the group.

If you are hearing that there is that much of a discrepancy between you and some of your competitors, you might want to consider raising your prices a bit. Take it slow and if you start finding that you losing some jobs because of pricing, you can always ease back a bit. You certainly don't want to price yourself out of too many jobs, but neither do you want to land every one because you are always the cheapest.
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Old 12-19-2016, 09:22 PM   #4
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Welcome to the group!
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Old 12-19-2016, 10:09 PM   #5
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Default pricing my work

It's a touchy thing with me as it's still new. I've done so much remodeling work in the past for friends and family and didn't charge. now I'm doing the same work but charging people. My prices aren't that low, but my neighbor who is also a contractor always tells me to charge more , but I'm working more than he does so I don't know. I charge what I think is fair and as i go along I charge more. Part of it is i'm older and slower than I used to be, but I've also learned that I get more work quoting a bid rather than quoting an hourly rate. For some reason I could quote a job for $5k or quote for $40 an hour and tell them it would take about 125 hours and they'll take the quote for 5k, it must be the security of a firm price rather than someone gouging them on a hourly rate.
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Old 12-19-2016, 10:49 PM   #6
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Welcome to group,

If your competitors are 3-4 times higher then you. Then they only have to do 1/3 - 1/4 of the work you do to make the same amount. You need to work smart, not hard. Getting lots of work doesn't always mean your making lots of money.
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Old 12-20-2016, 08:01 PM   #7
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Welcome to the group, Wood. If you're drawing retirement, I'm sure you can work for less than the other guys as this may just be supplemental income for you. You say this is your first year, so I'd advise you to be aware of the tax man and possible insurance requirements in your location. That might explain why others are charging substantially more than you.
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Old 02-15-2017, 10:02 PM   #8
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Welcome! I wish you much success
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