TCF808: Your Contractor Pricing Guide

As a contractor, do you often find yourself struggling with pricing your work? Are you unsure how to best answer the question, “How do I price my work?” Then this episode is for you. Today, Tom helps you get the answer by providing your 2023 contractor pricing guide. He provides an overview of different pricing models you can use and discusses the pros and cons of each model.

Conversation Highlights:

[00:00] – Intro – Your contractor pricing guide
[01:16] – Fixed price contract
[02:55] – Pros and cons of fixed price contract
[06:32] – Unit price contract  
[07:02] – Pros and cons of unit price contract
[08:40] – Cost-plus contract
[10:06] – Pros and cons of cost plus contract
[10:21] – Time and material contract  
[10:49] – Pros and cons of time and material contract
[12:13] – Tom’s preferred model
[13:55] – 50% Gross Profit pricing tool


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