Tom and Dan reply to a question asked by Liam, an electrician, about making 50% gross profit. Liam states the cost of electrical materials can be extremely high. So, how can he still make that 50% gross profit other than doubling the labor?

In this episode, we talk about… 

  • Present your cost to the client with confidence
  • Don’t be afraid to price your service at 50% Gross Profit – If you have 100 customers, 20% of them will spend at least ten times more on your service.
  • Build your brand — When you build a strong brand, people don’t care about what you charge.
  • Three ways you can price your service to make 50% gross profit:
    1. Doubling your cost of goods
    2. Doing a blended multiplier
    3. Selling labor only

Resources: 

Submit your questions to help@thecontractorfight.com with the subject “Podcast” and Tom and Dan will try to answer them on an upcoming show.

 

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Are you stealing money from your family because you aren’t charging enough for your services? Discover what you SHOULD be charging. Download our 50% Gross Profit cheat sheet: https://thecontractorfight.com/50

 

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