A realist I see. I agree. The going rate if this is not a regular client would get you about $70 to $75 a yard here assuming it is a smaller job here. Assuming the higher of the two figures given that puts the mulch alone at $112.50. Then assuming the guy has another hour and a half in purchasing the mulch and prepping the bed at $65 a hour you have $210.00 roughly. That is a fair price. Now again if it is a regular customer then maybe go a little higher, call it a convenience charge since they do not have to call someone else and waste it there time. Any more than that on residential mulch job you are pissing in the wind when there are a million companies here that will do it for $50 a yard. All in all the guy is going to make a little over $50 a hour after the cost of the mulch....which is not bad considering this is not freaking rocket science and most home owners understand that. Especially considering it is not the middle of summer either. The current conditions outside right now must be considered vs doing this crap in the middle of July.