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Hello Jordan, just found this and I love the direct and transparent philosophy. You are a credit to the industry which I have just re-joined. Of course i've hit the like button and subscribed! Surely I would be mad not to! I will look forward to checking out some more content when I'm here on UKposts. Many thanks and keep up the great work :)

Thanks Jordan this has just given me the kick up the arse to raise my prices to a level I should be charging.

That book changed my life! Best thing I ever did! I read it during lockdown and it was the best thing I ever did Great video Jordan

Another informative video, thanks for sharing. I totally agree with you. That spreadsheet is certainly food for thought!

Interesting Video, I'm in Ontario Canada. Here I'm a member of the "Ontario Electrical League" which is an electrical contractor group, every year they survey the members and release a report on average hourly rates by area and industry. Also minimum charges and other billable items. its very help full to figure out where you stack in your area.

It would be great if there were a Jordan Farley for each of the trades! He is so clear in explanation and takes things at just the right pace so it can be understood.

This video made me smile, I had my own Electrical business in the U.K. and now Retired in Thailand I still keep my hand in doing various Electrical work for friends and friends of friends, just done a shop rewire No main fuse no fuse board power supplied from overhead line to meter then a 20 amp switch then wired to sockets and lights totally dangerous, I see many electrical horror stories here. My daily rate here is £34 a day lol. 4 days £ 136 lol. For these prices I don’t do too much. I’d dream of £200 a day. Good luck everyone. Still love being on the tools.

Stumbled across this one by chance. Really helpful as I am just starting out. Thank you.

Great content Jordan as always. Moving forward as a growing successful business, this always need managing year to year so your business insight is great especially with inflation around the corner. 👍🏽

Thanks Jordan for all the great insights.👌🏼 You openness shows your honesty & pride in your business. Thanks for a great video.👍🏼 Your company is one of the best electrician companies out there. I look forward to watching your video's & to learn something new.😉

I knew a guy that took over a company and announced he was going to raise his prices. His Salesmen were shell shocked. He said to them that he was aiming at moving the business towards customers prepared to pay a higher price. The result was a huge uplift in revenue and profits. He said that if the staff didn't value their products accordingly, why would their customers?

Fantastic video ! Very helpful indeed! Thanks 👍

Be interested to know what you charge for a standard rewire of a 3 bed semi

good luck !! keep the family together

Just wanted to chip in as "a consumer" I've had "work done" like a full re-wire, a new bathroom, and a loft-conversion (incl. dormer, bathroom). Big jobs, where you want a quoted price (if only so you know if you can afford it, and pay the invoice when it arrives). Never went cheapest, always took personal recommendations - but my 'happiness' has been 'mixed' Only job I am unequivocally satisfied with, was the loft conversion, and that's the one that went way, way over the original quote. Why I'm happy, is that alongside the quote and the breakdown of work that made up that initial quote - it also included a specific list of exclusions. It also listed some potential extra items - e.g. "If we need to extend the fuseboard, it's £x". Then whilst the major work was happening, they'd flag up non-quoted tasks that they thought needed to be done. Leading that needed replacing (backed up with a photo showing a 1/2" gap"), and they gave fair prices. Or "That roof only has a few years left without re-battening" (and I climbed up and agreed) Job cost more than I'd expected, but I've fixed issues that would have bitten me, for way less than it would cost somebody putting up scaffolding a year later. Converse might be my bathroom fitting - I noticed a load of collapsed bricks when they pulled out the old plasterboard and had to ask them/pay them to fix it before they put the new board up (which they had just started doing). Fully aware I hadn't paid for them to do that work - but it needed to be done. I'm also a bit salty I didn't ask them to rebuild/level the floor - as that's still a problem and annoying me. Hadn't paid them to do that, do they didn't - but in hindsight would have been cheaper than now it's covered in porcelain. Sorry, written way more than I meant to. I think the summary is: 1) I will never start work on an hourly rate, for anything that might stray into the thousands - you're the expert, so should be able to give me a rough quote. 2) I don't want an unqualified fixed price. Neither you nor I know what's lurking within my house. I don't want you to pad your quote 'just in case' - or worse yet ignore issues that could be fixed easily, as they're not on the contract.

Hi there, great video! It would be great to hear about wages for employees. Does this also go up along side the business prices?

Excellent video. Many thanks.

This video is super mate love this! it's key on point👉 even nearly a year later!

Great video Jordan. Most trades go into business because they think they can do the job better than their old boss, with no regard for the business side of being self employed. The do great and make a ton of cash. It all unravels when the expenses start climbing.

good video Jordan, we work in a similar area as you know and I'm surprised that my prices are pretty similar to yours. I will consider the business course, cheers

Totally surprised me with increased value. Thought it was going to be a lot higher, due to the sheer size that the company has grown in the past year alone. Great insight and also a great value for money.

In Italy typically you have electricians and plumbers that range between 30€-50€/h if you go higher you loose the job with private customers. With companies they can ask between 100-150€/h because they can get back the VAT. In Sweden normal fares are 50-60€/500-600 Swedish kronas per hour for private customers and 150€-200€/1500-2000 Swedish kronas per hour for companies.

Using a profit first certified accountant helps too, I get a monthly video call with mine

I'm a gas engineer and I loved this video. As this can be applied to all trades. I want more like this.. keep them coming..

What you spoke about was very accurate, I worked for a couple of years in the signage industry - before eventually ending in teaching English and history- All this after a 30-year MILITARY career - that began with the RAF -- Anyways- the owner of the signage business (now deceased) was a very pleasant pleasant and astute Irish businessman *Thus is in Sydney - New South Wales - I am speaking of. Besides learning the Signage Industry business - joining some related organizations - Undertaking a 2 year part-time College course in Signcraft and Graphic Design (Which later led me to a teaching career) - I also took a 3-month full-time Business Management course -- One of the best things I ever did -- Adding to that - a Risk Management diploma I studied for during my MILITARY career - other studies were Law - Psychology and Electronics and Electro-Mechanical Engineering. For any business, it is essential one write a business plan, Which includes much of what is mentioned in this video presentation. All the operating costs and expenses have to be tabled --such as insurance(s) - wages- salaries - stock depreciation - losses due to theft and damage - Accountants Fees - Various licensing and association fees -- Trade periodicals - contributions to Staff training - etc. Vehicle operating costs -- A profit and Loss statement must be completed - This is essential It is also essential to keep track of Cash flow -- COMMERCE is under Admiralty Maritime Law -- This is where we get the terms Cash Flow - Liquid assets - Bank - Bankruptcy - Currency the current runs to the Sea - between the Banks - and when the banks rupture (Bankruptcy) the flow ceases. And one is Dam Broke. The thing to know id =s not to worry about what other business operators charge -- One has to do the calculations for one's own business -- Some business owners without experience or business training will reduce prices out of desperation -- That is like drilling a hole in your ship -- The business will sink. To keep the business afloat - one must raise the prices - and it takes courage - to concentrate on the 20% of the clients that bring in 80% of the business -- Leave the difficult customers to someone else Be sure to provide a professional level of service - train the employees - create an incentive rewards program for employees - undertake periodic client surveys -- Feedback is valuable information - even negative feedback -- It is how one learns and improves. And always pay attention to detail -- I learned that as a pilot decades ago. Failure to pay attention to detail will cause one's early demise.

Good honest presentation which applies to all businesses.

Hello there, FJK Electrical in Manchester here. Would there be any chance of sharing the speadsheet to us so we can do a comparison and use the speadsheet tools please? Would help us out so much as we are looking to revise our prices. Very informative and well edited video, thanks so much.

Lots of good insights here! I've moved towards pricing schemes like half-day/full-day where possible to avoid getting into discussions about how much I charge per hour. The main reason is that a high percentage of customers will look at the clock and question the charges if you're on a time and material scheme. Also, the better you are and the more experience you have, you can solve problems faster and get more done in less time, so charging an hourly rate can work against you if you raise that rate to what you're worth (not to mention you might be worth more than an employee, so charging the same rate for different electricians in a company has to be done carefully).

hi great video ! ii have recently set up my ltd electrical company in the north west (Manchester area) it would be interesting to see the comparison between London prices compared to prices in the north west

Pricing is always an issue that causes a lot of chatter. For us (an IT business) our pricing is set on what it costs, plus a sensible margin that can sustain the business. We’ve never been the cheapest out there, but we’re not the most expensive. We work hard to provide good value - which is not the same as “lowest price”. Our policy is also to quote the best price we can do a job for first time around. No haggling possible, no nonsense inflated prices for those who don’t ask for a better one. If someone doesn’t want to pay the price we quote, that is fine, they can go elsewhere. That’ll be the same for Jordan I’m sure. As he says, the reality is customers are happily rocking up. Also, it is my experience that if you price yourself at a level above the base you’ll avoid dealing with those who are endlessly after the “cheapest price” but still expect the “best service”. What I would be interested in is how Jordan delivers on the “5 star electricians” tag line - what is it he feels they do that justifies that tag line - not something he has explained (as far as I recall), because also that may also account for the pricing decision.

Great video. I'm wayyyyy too cheap. Are you hourly price per guy to is it a spark and lad?

Is the spreadsheet available to download anywhere?

As much as can get. When the work drys up and your sitting waiting, no one else pays your bills.

Great video . Very interesting. You forgot the Pringles outlay 😂😂😂😂😃😃👍🏻👏🏻

I live and work in Spain, and let me tell you, there are illegitimate tradesmen charging for a day, what you are charging for an hour. The problem with that is, clients think that is the going rate - some retired friends of ours told me that the Spanish will work for 50 euros a day! Part of the reason we're coming back to the Uk - I've worked for 2 years straight with no holidays, and barely covered my business expenses. I appreciate your videos as well Jordan, they are an inspiration to run your business in the correct manner.

Just a quick one how much do you charge for the apprentice per hour ?

I am glad I am an Electrician myself, because I could never afford to hire one.

So I am thinking of starting up on my own I have been doing some of my own jobs for a joiner friend of mine and other small jobs and also some houses for a friend who is doing property development, for some time. The houses have been quite a high spec, the last one sold for close to £800,000 had led feature lighting downlights, hanging kitchen and living room lights from a high ceiling was a lot of work, and was done to a high standard which I think all electricians should work too but sadly not all do. I am in Cheshire and a lot of the work I have done is for people in nice houses which have good jobs, if I start up on my own I was thinking I should be charging £250-£300 a day but looking at what some people say should I be charging more just wondering? I have been an electrician for about 14 years and mainly do commercial and some industrial and some domestic most of the domestic has been mainly for myself, would love some help on pricing if anyone does work around here what do you charge.

How much do you charge out ,1st 2nd an 3rd year apprentice. 🤔 John. Ireland

Where can I get that spreadsheet?

The company I worked for in Oz very rarely discussed hourly rates with customers because the customer that wants an hourly rate is not the customer you want as Jordan points out so we priced every single job, down to replacing a power point, ie 15 minutes max, so every item on a quote was itemised down to the smallest degree. You have to be 100% confident in your pricing for every job you go to. You should also use a Labour Rate Calculator to work out your hourly rate.

Artisan electrical, Fighting against the race to the bottom, great video!

Price per job I believe is very personal or per hour...And where you live is a huge factor....I've lived all over the UK and 3 or 4 different countries....For example London is the biggest hourly rate/per job...Followed closely by surrounding counties...Midlands for instance is about 70% less per job/hourly rate.. In order to grow the company you do have to invest in it...Becoming profitable is paramount to that...

I know the answer to this. I really do. It is always "at least £30,000". Full house rewire: £30,000 PV Solar Panel install: £35,000 Now where's my prize?

I found this bloody fascinating, and I'm not even an electrician or a business owner! Always look forward to your videos, nice one mate.

I find my customers will pay a fair rate , as long as when or if they have to call you out, ( you'll call back ) they'll pay,, , I charge a very low rate,, £45 call out includes 1st hour, I+ £20 an hour, I only work locally, thats why I don't own a Tesla motor. Your a fab company and give great service too. Have a great future. 👍

Nice video.

Is that price per hour for the business? Or per person on site?

Hi can you tell me what you pay your guys paye and self employed.

I’m in Cheshire, we do commercial gas repairs and charge a call out of £100 inc the first hour and then £50 an hour thereafter for as long as it takes but on average my engineers do 5 jobs a day and not much goes over an hour

Some interesting points. I’m not an electrician but have taken in a lot of useful advice from this video and am definitely upping my prices after thinking about what you said with taking profit

Thank you for sharing this, I have been toying with the idea of raising my prices. Decision made! Please keep up the fantastic content.

Thanks for sharing the information !

Thank you for this Jordan, it has been eye opening to say the least!!!

Hi Jordan, the prices in London will vary because some areas a more affluent than others, so for example, you could not charge £50 an hour in Walthamstow because people wouldn't pay it.

In the 1970's when I lived in the UK as a Dental Technician it was very common for clients/dentist to try to get you to give them a 2.5% to 5% discount for prompt payment I would not do this so I lost some dentist (they were always slow each month with payments ) but my businesses did not suffer in fact I had more clients each month came close to a heart attack went to Australia for a quieter life and restore my health

Sometimes worth looking at the mean rather than the average. Give you an idea where your price sits across the area price spread

I'm curious as to how you start getting customers as a self-employed electrician?

Its an absolute ballache when you local patch is flooded with the same trade and almost every person in this area wants everything for nothing.

Great info, bit of an eye opener - North Devon area currently charging £25 + VAT Just wondering what you pay if someone is on your books or as a subby....cheers

With regard to the info about loss of business after putting up prices. consider this. If you did 1 hours work for 100 customers at £50ph you'd have £5000. Add 10% making £55ph would be £5500. Loose 10% customers (not 25%) so 10 people, making 90 people x £55ph would be £4950. £50 loss. The sheet suggested 25% loss of customers.

Always wondered do your customers that allow you to film on their project/in their home, do they get any price reduction in light of this?

A very good and interesting video there Jordan👍🏻 Keep up the good work.

A simple way on how to charge... it's all down to work load and demand! If im charging 50-80 an hour but someone wants to push in line... Then i would charge them 100 an hour and guessing roughly how long i can get the job done in. Clients are aware how busy i may be, no one put a gun to anyone's head, if they want to pay max, i am at their service (if i can put it into schedule.)

Electricians in the Gloucestershire area still charging around £25 per hour

Kitchen and bathroom fitter for yrs ---packed it in / retired early, solely because of JOE PUBLIC wanted it cheap--oh and telling me it's only take a day or so. Right --well do it yourself. I'm happy in myself, I made the right decision, I offered a good service. worried about the job, wanted to do a great job. I have my life back.

In Australia I am charging $120 an hour AUD or 70 pound an hour, some charging up to 90-100 pound an hour or $150-180 an hour, so comparative between counties.

Very interestng bjtelectrics

With that rate I’d expect no bs with cameras or if you are filming a reduction. Prices are about 30 gbp per hour more than competent electricians outside of london

And thats exactly why so many people try to do it themselves, with prices like that you cant blame them

I don't offer a day rate service as such. The difference of what I can do in 8 hours and what the next guy can do in 8 hours could be vast. The idea that value for money is associated with time spent on the job is a very unfortunate reality. Would you rather pay a call out and have the problem fixed in 15 minutes or have the problem fixed in 15 minutes + 45 minutes of me watching guides on UKposts of how to make mountains out of mole hills because an hour of me being on site is 'worth' paying the call out.

Very informative that spreadsheet, are your costs per electrician or is all labour rolled into that rate. So if you send Cory and Lee to a job, is that priced at two lots of £93.50 per hour or is it just £93.50 per hour regardless whose there?

This is a very interesting video, I kind of really respect you for being so open about this. However Jordan, Ill be honest these prices can only be charged in affluent areas. Where I live 80 Quid an hour just would not work. I price against bigger contractors who are charging 37.50 - 45 per hour, I could guarantee that charging £80 would result in my work drying up completely totally. Apart from actually keeping up with all the regulations etc, its unbelievably hard running a business and keeping everybody happy.

So two sparks ( both fully qualified) working in a house( say a rewire ) for a week ( 5 days ) comes to £8880 labour only….am I missing something here 🤔

Thank you Jordan, this video has really opened my eyes to where I was blind before. As always a great video and no Cory :)

Great video Jordan...am I being to simplistic here is the £93.75p per hour for the team to visit a job, because sometimes you have 2 qualified Electricians and Apprentice and a camera man...Yes you are getting a video out of it, but it’s very manpower intensive...or are video jobs not worked out on your normal hourly rate. Cheers Paul

Amazingly, it surprised me with increased value. Improved and also a great value for money. Thumbs up! Cheers!🤟

11:05 Need to move to UK and to electrical work ..those prices are realy HIGH .. but i that's the market in UK .. and yes you need to calculate expenses .. vans / staff / accounting .. all needs to be payed of that ..

Intrigued to know what the employees get paid

Very insightful, I think inflation is about 6% but heading to 10%. I recall the ‘Gosforrth Handyman’ doing a similar video about 2hrs ago about how much to charge, it also included a spreadsheet that included considerations such as workshops / business units and the impact they have on your hourly rate…

As i don't do domestic im interested in hearing an opinion why is it that domestic customers are prepared to take on the overheads of a larger business than pay a local 1 man band to do the work? For example if a 1 man is charging £80 like you were and a larger company is charging the £90odd do you think it comes down to the reputation of having more staff and an office base?

How do you charge for an EV? You plus apprentice so £93x2 per hour the job takes? Or is the apprentice party of the business overhead like the admin team?

Great video Jordon, I’ve had a conversation today re prices.

Lots of speculation here. My speculation rate is $137.50 per hour.

What a brilliant video. Very helpful

A very well presented and helpful video. It also goes some way to explain why London & Cambridge areas are favoured over residents in Norfolk.

interesting. The posher areas charge more .

Great video very informative- Majority of them day rates are miles off what I could charge I’m based in the Staffordshire area - I would imagine your day rate is nearly 3 times what I charge on a daily basis , the only other way to make extra is to price the whole job and hope you complete early - it’s easy to say know your worth but people will not pay nowhere near them rates around here you would be laughed at - been NICEIC Approved for 20years - let’s hope the gap closes

Between £240 and £280 a day me and an apprentice mainly domestic with 10-20% commercial in the midlands and I really need to increase as prices are going up on everything! I've been running since 2009 and should be a lot bigger by now. I'd like to see a realistic spreadsheet for the midlands, shropshire area :) Great video mate

Round my way the accepted dogma is non registered trades get 120-160 a day and registered trades get 200-250 a day. I charge £300 a day for site work for my usual main contractors and £65 an hour if I'm out Jobbing for randomers.

Do the electricians who work for u get a % of that hourly rate or are they on a salary/their own hourly rate? If so… how much do they get paid? Is it JIB rate or company rate?

If this isn't an advert for learning to do a few things for yourself then I don't know what is.

Quality is remembered long after the price is forgotten

Is that price for an electrician and a mate or just one electrician? Great video as always

I found that fascinating, thank you.

My issues with is with companies although being told on social media of what needs doing being told "DM me" instead of quoting. puts me right off that company straight away.

Keep your good work

You must calculate it as you are just a regular PAYE employee in your own business 365 days a year, 2022 has 250 working days out of which, and you should be entailed to 5.6 week holiday that is 28 days. So you are left with 222 days. Account for seven sick days at full pay, and you have 215 days to make your salary. If you want to be on 46K a year, that will give you after taxes 33.800 take home. Wich is just over £2.8k a month take home. Meaning you have 215 days a year, presuming you are working five days a week, solid 8h of work with one/h break after the first four hours, you have 1720 hours a year to earn you £46K. That's 26.7/h if you pay someone's salary or yourself.. Then you can keep calculating you overheads profits etc., with let say, 3-5h a month of training toolbox talks on your overheads expenses and profit, and you must charge on top of that. To offer a good reliable service, you can't be paying less than £22 before tax. You most likely must charge 120% to 150% on top of that to cover your overheads, profits, project management etc. with more than five guys working for you, you might be able to charge less than 120% mark-up and go down to 70% on 4th and 5th worker. Truth be told to offer this type of pay, you cant be a team of 2 or 4 sparks. You won't get enough solid work to be able to keep up. You definitely won't be a PAYE employer looking for an employee who just need to show up as you would provides tools, van etc. You will be looking for CIS contractors where you pay 20% tax on their agreed daily or hourly pay, and you are not going to offer any benefits, just statutory where apply. You will expect whoever will show up to have a toll bag and equipment. If you run a business with £5M+ turnover, you might be looking for employees, but you'll be scared of liability, and most likely, you will stick to CIS contractors on zero-hours contracts because it's safer. It is pretty much the reality of these days. You won't see on Linkedin highlights with "employes" saying Jack been with Mace for 18 years as an apprentice than decorator and transition after training to Carpenter" it's all "professionals, not tradesman workers." Working for contractors that are small-time builders etc, more often, you will be looking for someone trying to force you cash in hand to save themself tax and be able to undercut the competition on taxes etc.

My man Jordan uping his prices giving the guys on the tools a payrise, top bloke 👏 be interesting to know what the engineers are on 👀