LumberJocks

Reply by Lee Barker

  • Advertise with us

Posted on Pricing Your Work

View Lee Barker's profile

Lee Barker

2163 posts in 1507 days


#1 posted 04-27-2012 04:27 AM

Nick’s got a nice formula there, but I don’t see profit. It should be a separate line item, a percentage, and that money means that your business can thrive and grow. If that’s not there, why do it.

Here’s another one:

Material cost + extras cost x 125% plus (hours times your shop fixed costs/hour) plus your labor rate x hours = $123.45. times your profit percentage, say 114%, = selling price.

Your fixed costs should include rent, utilities, insurance, licenses, taxes, tool maintenance and supplies such as stain and glues. And I may have forgotten some stuff there.

Kindly,

Lee

-- "...in his brain, which is as dry as the remainder biscuit after a voyage, he hath strange places cramm'd with observation, the which he vents in mangled forms." --Shakespeare, "As You Like It"


DISCLAIMER: Any posts on LJ are posted by individuals acting in their own right and do not necessarily reflect the views of LJ. LJ will not be held liable for the actions of any user.

Latest Projects | Latest Blog Entries | Latest Forum Topics

HomeRefurbers.com

Latest Projects | Latest Blog Entries | Latest Forum Topics

GardenTenders.com :: gardening showcase