Sticker SHOCK! š²
I have been doing my office's annual purge and came across some old invoices from the earliest power equipment my business purchased. Believe it or not, some of the equipment I use has doubled in price for the replacement model at today's cost. Since it is our responsibility as owners to be profitable enough to replace/repair equipment as needed, I find myself adjusting my equipment cost recovery number upward almost monthly in my budget. How often are you adjusting your cost recovery upward to adjust for the ongoing inflation?You Quit Your Job to Start a Business ā So Why Gamble on a Used Truck?
Everybody says the same thing: āJust buy a used truck, itās cheaper.ā Yet, That same truck breaks down 3ā6 months later. Now your jobs are delayed. Youāre borrowing vehicles from your spouse or rental. Youāre stressed out and behind on bills. And suddenly the ācheaper optionā is costing you way more. Here's my personal take: You quit your job ... You are betting 100% on yourself, to care for your livelihood. If youāre betting your whole future on this business ā why risk it with a vehicle that might leave you stranded? I hate blaming others, or the lack of accountability. So if I can control one variable ā like my ability to show up to the job, that will pay me for my services... Iām going to do it. But that's just my opinion. My hot take, What do you all think? I created this visual for myself to follow and share whenever anyone is deciding to get a vehicle.Looking for Recommendations on Affordable, Reliable Landscaping Tools
Hi everyone! Iām fairly new to landscaping started this year, and Iām looking for some advice from the pros whoāve been doing this a lot longer than I have. Right now, I handle everything from gutter cleanings and hedge trimmings (boxwoods, hedges, leaf removal) to weed eating and general yard work. Iām working with basic tools and a lot of heart and passion. Most of the money I earn goes right back into the business, so I donāt have top-tier equipment yet. Iām hoping to get recommendations on reliable, affordable leaf blowers, trimmers, hedge clippers, and any other tools or gear that make jobs easier and more efficient. Iām still researching and plan to upgrade one piece at a time as I can afford it. Any tips or advice would mean a lot thank you all in advance!New, Used, or Lease? And WHEN?
As a small business owner it has been nothing short of challenging to build a business from nothing. I came from nothing and have built this thing from the ground up. I didn't have a lot of money. When I first started I couldn't afford company vehicles. I eventually bought used vehicles in the $20K-$30K range and financed them and that was fine until I unexpectedly slowed down and had to sell off my trucks just to survive. Once I rebuilt from the slow down I decided to buy used vans around $9K to $10K cash. Right now I have 6 vehicles. One of those vehicles needs major work done. And the others are all 100K miles or more and I feel like they are just ticking time bombs. I want the reliability of newer, or leased vehicles but the risk intimidates me after my struggles in 2022. Is there a formula for when you should go from paying cash for used, to financing newer/new, and to finally leasing? Is there a revenue metric, a number of vehicles in your fleet, or some other sign that going one route over the other is more advantageous or less risky? Thanks for taking the time to read this and share feedback!Maintaining Your Equipment: Tips & Tricks from the Prosā
As a business owner, keeping your equipment in good shape is key to staying efficient and reliable. Iāve learned that regular maintenance and knowing when to upgrade or replace tools can save a lot of headaches down the road. What are some of the tools or equipment you canāt run your business without? And how do you keep track of maintenance or repairs?ā* Maintaining your equipment is essential for keeping your business running smoothly. Over the years, Iāve learned that regular maintenance and staying on top of repairs can prevent costly breakdowns and delays. Some of my go-to tips are scheduling monthly check-ups, keeping track of warranties, and having a solid backup plan for when equipment goes down unexpectedly.Do Electrical Contractors Understand Costs ?
Iām not talking about materials and labor. Iām talking about the real costs, not just the bare minimum ... the hidden stuff that slowly eats away at your margin while youāre out chasing the next job. After spending the last few months traveling with contractors across the country, I keep seeing the same problem: Everyone talks about revenue or price like it means anything So here I created another visual... A Blueprint to Understanding Cost ā Because Iām tired of watching good contractors work hard and still stay broke. This is everything that goes into the number before you even think about profit. What do you guys think?I donāt really share this much ā
I just passed the 100 contractors mark that Iāve been able to help through @buildnational. Now, a few of you have seen how I built a $1 million revenue electrical business in my first 4 years. And it had nothing to do with working harder. Itās actually the opposite. It came from securing long-term relationships/contracts, repeat/bulk work with service agreements attached. And the key to it all was understanding MY NUMBERS so I could stay competitive and still close the year at 42% NET profit. Weāve been featured in Forbes and, together, broken down stigmas around construction that keep contractors stuck. All of thisāwhile traveling the U.S. sharing our story. At the end of the day, I just want to make sure you have everything you need to take full advantage of contracting. If you want to have a conversation or just connect, Iām here to serve.HELP Too Many Electricians Google Prices ā Not Enough Understand Margins
The last 6 months in our masterclass, we been talking with contractors throughout the USA- and one thing has shocked me personally about Electrical Contractors... Most electricians arenāt building pricing based on math, theyāre just guessing. This is a shock to me because so many of us worked our A$$ off to apply and take the state exam. Yet, we fall back to asking Facebook or Googling āhow much to charge for [x].ā Another thing I saw was many copying what the other guy charges without knowing if heās even profitable, or the fact their competitors have a different overhead. Am I the only one going crazy here? I built this visual as a blueprint for the trades. If you wire jobs with code compliance, you should price them with the same level of attention. What do you all think?What should a 200 AMP Service Upgrade Cost in 2025?
Good Afternoon, We just posted a short video breaking down how modern electrical contractors are actually pricing a 200 Amp service upgrade in 2025 āwe go into detail about the COST for these services, to us as CONTRACTORS. For example permits, labor, overhead, profit, and final margins. In the comments we see that prices vary all across the USA - so I wanted to ask you all, how do you go about pricing? By the way I'm based out of Connecticut / Massachusetts. Thank you all
