What are you trying to configure? Your hourly rate?
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If so, click here.
Time and Material
Can any of you guys that may do Time and Material on some jobs, do a lil run down on how you do it... im trying to configure my own.. for a upcoming bid thats gonna want this...and I never did it before..dont want to go empty handed with out anything at all..thanks
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lol.. how much do you normally mark up your material ..whats a good rule of thumb
Do you mean you are going to bid a job saying:
I'll charge $53 an hour and 40% (markup) on materials?
?
That's really no way to "bid"
Then any dork can say I'll bid it at $20 an hour and discount materials by 5%
They'll look like a hero
Get the "bid"
Then dog the hours by 200%, and buy extra materials and sundries (twice what's needed) and make more money
Just like a govt contract
Add ons or odd little stuff I'll say T&M, but that's for little stuff like I don't know, replacing some roof shingles while I'm up there...fixing trim on a dormer I can't really see 'till I'm up here so can't really give a price....
If you mean a breakdown of T&M on the bid...no thanks
I won't do that
It's usually a red flag for a nickel and dime to death client
I'll charge $53 an hour and 40% (markup) on materials?
?
That's really no way to "bid"
Then any dork can say I'll bid it at $20 an hour and discount materials by 5%
They'll look like a hero
Get the "bid"
Then dog the hours by 200%, and buy extra materials and sundries (twice what's needed) and make more money
Just like a govt contract
Add ons or odd little stuff I'll say T&M, but that's for little stuff like I don't know, replacing some roof shingles while I'm up there...fixing trim on a dormer I can't really see 'till I'm up here so can't really give a price....
If you mean a breakdown of T&M on the bid...no thanks
I won't do that
It's usually a red flag for a nickel and dime to death client
Ive worked by the hour with GC handle the material
Ive worked Bid where the GC handles material
Ive worked Bid where Ive handled the material
but I never worked by the hour and handled material how should I work this, do i give them a bill for my time and material together each week..this is crazy to me..I guess thats why its hard to explain... im gonna get my by the hour money ...but do i bill them each week when I turn my time in for material..and mark it up 35-40%?
Ive worked Bid where the GC handles material
Ive worked Bid where Ive handled the material
but I never worked by the hour and handled material how should I work this, do i give them a bill for my time and material together each week..this is crazy to me..I guess thats why its hard to explain... im gonna get my by the hour money ...but do i bill them each week when I turn my time in for material..and mark it up 35-40%?
whatever you need to survivelol.. how much do you normally mark up your material ..whats a good rule of thumb
I've seen guys do 10%, and I've seen guys do 60%
BTW...I NEVER break down T&M jobs for customers, I bill them. They usually know my hours to a degree, but that's it. They know I am buying materials, but it's not like I'm handing over receipts or anything. It's not for them to know, therefore they don't.
I do 40% mark up on material. Depending on the job, i will charge anywhere from $15 to $20 per hour per man. I'll pay my guys depending on experience, $8 to $12 per hour. When doing time and material i use time cards for each guy and keep receipts. Bigger jobs i'll turn in time and material in 1/3's. Smaller jobs turn in time and material in the end. Turn in T&M together. Two of my current jobs are time amd material.
thanks... just wanted to know how some of you was doing it before i t get involved ...that will work
How do you cover overhead and expenses (let alone make a profit) off that?Depending on the job, i will charge anywhere from $15 to $20 per hour per man.
Depending on the job, i will charge anywhere from $15 to $20 per hour per man. I'll pay my guys depending on experience, $8 to $12 per hour....
Wow, Tim
That doesn't add up
I think you are underestimating your actual costs per man hour
Most guys, including myself (at least here) charge the same for every man, regardless of experience.
Prowallguy and slickshift, i'll give you an example-finished a job today with the bill totaling $2340.00. Charged $20.00 per hour per guy with two guys on the job, thats a total of $40.00 per hour for the job. They put in 48 hours each totaling 96 man hours. My material totaled $300.00 X 40% mark up. I paid one man $11.00 per hour and the other $8.00. $912.00 was paid for labor, I made a profit of $1128.00. Does thats seem like a fair profit? If not, please tell me what i'm doing wrong.
Thanks, Tim
Thanks, Tim
Rich, i charge according to customer and pay each man their hourly rate for every job. Some people don't want to pay $20.00 an hour per man, so i'll rework the numbers and come up with something that works for everybody.
Tim
Tim
Tim, I'm no expert at all...so I can't really say much. If you are able to pay bills AND have plenty of profit to enjoy your business, great! I have found that even charging $40 per hour, I can't seem to make it work. I guess that really comes down to how much I'm working and how I'm arranging payments. I'm suprised that someone is willing to take $8.00/hr. Beginners up here start at about $12. I guess because CT has a minimum wage of $7.65, it changes things a bit.Rich, i charge according to customer and pay each man their hourly rate for every job. Some people don't want to pay $20.00 an hour per man, so i'll rework the numbers and come up with something that works for everybody.Tim
you know what they say..."if it ain't broke, don't fix it" :no:
Rich, I have one guy making $8 dollars an hour, one at $11 and 2 at $12 dollars. Had another 2 other guys at $8 and another making $12<--- these guys i just fired. I normally have 2 or 3 projects going at once. I feel i am making a good living and want to keep building. I go through sooo many guys that i start them off at $8 per hour. If they have some skills and stick around i have no problem increasing their pay. Every one of these guys have no problem starting at $8 per hour. Its hard finding good help.:wallbash:
Tim
Tim
But that's not your profit...I made a profit of $1128.00. Does thats seem like a fair profit? If not, please tell me what i'm doing wrong...
Not unless you have $0 overhead, operating expenses, taxes, wc, enemp. ins...etc...
Listen if you can do it charging $20 an hour hey don't let my big mouth stop you...lol
Slickshift, my prices are competitive with others in the area i have no other choice but to keep my prices where they are. Example, did a follow up on potential customer. She told me i was $250.00 higher than another bid she obtained. She said if a would take the cut she would give me the job and show me the other bid. This is just one of many examples on the bidding battlefield. Whats a brother to do? :confused1:
Tim
Tim
I fell you on that one Tim, the bidding battle field is a harsh one around here to...Im barely staying alive right now...with all the guys that will work by the hour around here my bids to them are way high...but its whats fair in this area.. have to be low bare an grin it.. or find another professionSlickshift, my prices are competitive with others in the area i have no other choice but to keep my prices where they are. Example, did a follow up on potential customer. She told me i was $250.00 higher than another bid she obtained. She said if a would take the cut she would give me the job and show me the other bid. This is just one of many examples on the bidding battlefield. Whats a brother to do? :confused1:
Tim
That is not profit. You have to pay taxes and your overhead and yourself out of that. What is left over after that is profit.I made a profit of $1128.00.
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