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Pricing New work

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RayH
RayH Member Posts: 98
Hi guys!

 I'm fairly new in my own business and could use some help in pricing my jobs. Is there any way to find prevailing rates on line? Is there some type of standard way to price larger jobs? Like what do the rest of the contractors charge for installing an oil tank in the basement. Or what is the standard mark - up on a warm air furnace?

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  • Steamhead
    Steamhead Member Posts: 16,904
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    This really isn't the place to ask

    since we don't discuss pricing on this site.
    All Steamed Up, Inc.
    Towson, MD, USA
    Steam, Vapor & Hot-Water Heating Specialists
    Oil & Gas Burner Service
    Consulting
  • RayH
    RayH Member Posts: 98
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    Costs

    I recently started my own business. Can you suggest any sites where I could compare average pricing for different jobs?
  • Snowmelt
    Snowmelt Member Posts: 1,416
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    Look

    Look at old bosses invoice!

    How long have you been in the field?
  • Rich_49
    Rich_49 Member Posts: 2,766
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    Follow

    Gennady's link . She has the recipe .  If that doesn't hit home , don't look at what others around you do or you may fall into a trap . Only you know what you have for overhead , and what you need to make , price accordingly . You may get less jobs this way but you won't find yourself in a position created by having to leave one job to start another to pay the bills and spreading yourself thin , that quickly creates a hole you may never climb out of and is not good for reputation building .  Basically what I am saying is a job is worth whatever you are willing to do it for . Just know that you can sit home and NOT LOSE MONEY , why spend money leaving the house if it is not gonna be profitable , this is not a hobby and you probably don't need the practice .  Good luck
    You didn't get what you didn't pay for and it will never be what you thought it would .
    Langans Plumbing & Heating LLC
    732-751-1560
    Serving most of New Jersey, Eastern Pa .
    Consultation, Design & Installation anywhere
    Rich McGrath 732-581-3833
  • DanHolohan
    DanHolohan Member, Moderator, Administrator Posts: 16,549
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    Rich.

    Gennady is very much a guy.
    Retired and loving it.
  • Tinman
    Tinman Member Posts: 2,808
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    I think

    he was referring to Ellen?
    Steve Minnich
  • Tinman
    Tinman Member Posts: 2,808
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    And

    on top of what Rich and Gennady said, make sure you understand the difference between mark-up and profit margin and they both need to be included in the equation. In addition to Ellen's stuff, which is great, Ron Smith has a very good book on the specifics of an HVAC business
    Steve Minnich
  • DanHolohan
    DanHolohan Member, Moderator, Administrator Posts: 16,549
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    Misread

    Sorry!
    Retired and loving it.
  • Rich_49
    Rich_49 Member Posts: 2,766
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    Gennady

    certainly is . I see Steve already correctly thought I was referring to Ellen .
    You didn't get what you didn't pay for and it will never be what you thought it would .
    Langans Plumbing & Heating LLC
    732-751-1560
    Serving most of New Jersey, Eastern Pa .
    Consultation, Design & Installation anywhere
    Rich McGrath 732-581-3833