A PLUMBERS GUIDE TO WORKING OUT YOUR PRICE..HOW MUCH DOES A PLUMBER MAKE? ALL IS EXPLAINED!

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Very informative video. Thank you. A few questions: How much would you offer for a good lead? If the job is too big and you take a fellow sole-trader to for example hang only rads, or to do the boiler?

Question, are you a sol trader ?

I’d like to know what’s the basic price people charge for a basic combi combi swap. I’ve worked for years council contract work. £200 per swap.

You missed a buggy, the purchase of the vehicle and depreciation or if leased the lease cost

Really clear and easy to understand, keep up the good work

6 hours a day, 42 weeks a year?
Who do you think you are? A teacher?!

You're a star for recording this. Probably one of the biggest hurdle going on your own is properly pricing jobs!

I still wouldn’t offer an hourly rate mate,I’ll tell them it’s an unknown quantity,an you’ll get your bill at the end of the job of what I think it was worth.it’s no different if someone asks for a price over the phone they can stick it🤣🤣I stopped doing that yrs ago

Really good video ive work for my self for last 15 year and juat seeing it laid out like that makes u think

Cracking to see a Black Country guy, doing a cracking job. Great advice and good break down of out goings for a small business.
Boston video. From another Black Country tradesman.

Price work every time,I can’t live on an hourly wage,an I’m not working like a slave an breaking my body for a hourly rate it’s not worth it,you might as well do site work.

This is confirmation that I am a busy fool

Van stock , you dont want to be running around all day collecting fittings!

As a customer i am happy to pay for time, expertise, skill, specialist tools, reliability peace of mind and good advice. What i don't want to pay for is time taken to go and get 90 degree elbows or a piece of copper pipe. And i don't want to pay extra to rectify mistakes and poor workmanship. It also helps if the tradesman turns up in a reasonably good mood and preferably when they said they were going to come.

Awesome video, Bulldog! It's evident that there's a prevailing issue with how customers perceive pricing these days. It can be frustrating when you provide a quote for a job, and you're met with silence or open-mouthed surprise at the proposed price. Many people may not fully grasp the operating costs involved in running a business, and they tend to assume that professionals like plumbers are making a fortune. Someone earning £11 per hour at Tesco or £15 per hour as an administrator might not always appreciate the complexities involved and could perceive it as overpriced. Interestingly, burst pipes tend to be a potent motivator for them to understand the value of your service!

Great video

A lot of these costs are very similar to what anyone has to pay to go to work. For example, running a car to get you to work, clothes for work. Also "profit" is meaningless if you are a sole trader. basically you're just factoring in a £50k wage.

So the video is basically saying a plumber should earn £50k and this is what they should charge to do that, whilst having no other associated work costs such as travel and clothing.

Take off the costs that everyone who goes to work spends on travel and clothing, add that on to the 50k and that's what you're earning in this example, compared to the average Joe.

Not a complaint, just an observation.

Very good 👍

Brilliantly explained, I explained to my customers your theory cos they haven't got a clue.i tell the ones who want the job for 1960s prices if you want a cheap loaf of bread you got to buy yesterdays loaf!,, Mr bulldog what determine your wealth is not what you earn its what you spend!!! Remember there are pools of customers who want a rolls royce for the cost of a mini. And the decent customers who want a good honest job . THATS THE POOL YOU NEED TO SWIM IN

£35 pound an hour my firm was charging 10 years ago

12 hours a day 7 days a week and still not rich

Accountant

Outgoings. The van itself, tool insurance, bank fees, accountant fees, greggs👀 the 800 a month is very low but should be divided by 42 weeks you're working. There's 10 weeks at £185 you're missing. You've just chucked 1850 away and that's your holiday funds.
£300-400 a day plus vat.
Also. Never work price out on day rate and how many days you think it will take. The only person you put under preasure is yourself. Price should be a healthy amount more than day rate.

very useful

And also it takes years to build a business to get enough work all year round

Very good information your spot on with your thinking unfortunately most people that start up haven't got a clue .as you said if you do a job quickly why should you charge less

Can’t price in the old razzle dazzle ;)

Really useful info mate, just started my Air Con business in June and appreciate any help and advice and your video was spot on 👍 all the best for the future

Really great breakdown of pricing. This has helped me out especially with the logic behind how many weeks and hours to use

Accountants

Accountant fees, tax, National insurance and pension?

Fantastic analysis. This is really helpful. This is the first gas vlogger I've seen who has demonstrated how to keep the business successful.
I offered a friend to fit a Tado thermostat for £80 and he asked me make it cheaper. It will take me 1/2 an hour to get there. You just can't win with some people. Keep up the good work. I wish you all the best.

Great vlog mate, enjoyed it very much. Great insight into running your own gas/plumbing business.

INFLATION is possibly worth a mention

Very good video

One thing I always stress to suppliers and staff is that its a percentage game too.

Your day rate is £270. one of lads takes it upon themselves to ignore your instruction and deviates from the plan and ends up using 'just an extra length of copper and a few fittings' that cost £27. Its not just £27 its 10% of your profit gone. Customer messes you about and you lose a day. 25% of your earning potential gone. Same with suppliers sulking that im arguing the toss over a 5% price difference. I'm spending about £200k a year with them and that 5% is a huge chunk of change its not just 35p on a bottle of inhibitor its big money and big percentages that can wipe out your good living without you even realising.

Great video mate

Charge what your worth provide a good service ,never aim to be the cheapest ,double your price ,you can then do half the work and relax on the work you are doing , and if i said quadruple your price you all would lose your mind .

Great vid mate, nice one

Cost of purchasing a van

Thank you so much for this powerful information. I am really glad that you took the time to share this information with upcoming business

Top video pal, handy little video for anyone starting out and for people like me that second guesses myself all the time

Public liability

Top content mate,

I can earn £1100 per week plus overtime working on site use the family car for travel to / from work , no gas safe , guaranteed hours etc. working for yourself isn't the be all and end all. If i was newly qualified i would consider going on site for a few years to really get used to the job , i wouldn't go working in private houses whilst still learning. I do commercial instal work and I've been a domestic and commercial engineer for 41 years.

That was brilliant mate, really well explained!

Nice video, your profit will include a margin based the cost of sales, I.e. the % amount you add on all goods which you install, the company I worked for it was 35%, a friend works in a pet shop and their margin is 100%. Just don’t sell things for what you buy them for is the golden rule, loss leading rarely works.

Perfect timing for me this video mate. It’s a lot to consider. I’m lucky I’ve got a book keeper who has been great at showing the way forward. It’s a big big commitment and challenge. I can only wish all those going the same route my best wishes. Great content mate. Keep it up. 👍

Excellent advice. To someone starting out I would say keep your costs down, don't buy thousands of pounds worth of the latest top brand power tools, try and buy just what you really need at the best prices, get a decent 2nd hand van or lease at a fixed price. But above all, do a really good standard of work, you won't have to advertise much...