View Full Version : Help to find out my hourly Rate.
02-28-2011, 08:16 PM
I need someone to help me with the math part to find my hourly rate?
02-28-2011, 10:07 PM
Give us some information.
How many hours a week/month/season do you work.
What is your overhead?
-Insurance-(liability, Workers Comp, Commercial Auto)
-Equipment replacement/new equipment
-Any other Misc. monthly bill's or weekly bills
Take all the overhead, add it up,divide it by 52 weeks and you will get your weekly margins. Then add in the profit margin you are comfortable with(IRS likes to see a profit once out of your first 3 years in business, but you obviously need profit to pay personal bills and mortgage) Then divide by how many hours you work per week and that is your hourly rate for a quick and simple business plan.
Many other factors can be included in this and i would advise you to get a CPA or financial adviser to help you out with everything if you cant figure out your hourly rate.
Most companies in my area are between $60-$110 per hour. some don't even come out for less than some can make a huge profit on, It all depends on what your bills are, vs what is coming in and what you want to take home. some contractors don't charge per hour per say but they charge per job and incorporate their overhead but don't tell the customer.
Give us some numbers and we can help you our more.
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