tapit
Well-Known Member
no room garage, full of tape
Materials mark up
- Thread starter megamix
- Start date
megamix
Well-Known Member
I would if I had a garage
lurpak
Artex Boy
You going through each roll one by one with a hole puncher?
lurpak
Artex Boy
Bet there’s some old c**t with an empty garage on your street you can use
megamix
Well-Known Member
I’ve thought about renting a lock up with another plasterer I work with but knowing my luck it will get done over
If you’re self employed then you have to generally remember that you are a business man 1st and a spread 2nd....not the other way round. However you price, you should be looking to cover overheads, wages and profit. I see plenty of people say they are £175 a day....If that’s what they are charging then they aren’t earning £175 a day. When you start looking at overheads it can be surprising how much it adds up. Insurance, van, tools, MOT, tax, fuel, work clothes, printer ink, servicing, advertising, phone etc etc.
You also have to factor in that you don’t get paid holidays or a pension.
Just for an example per annum...insurances £800, van on tick £2400, tools £300, tax and MOT £200, servicing £400, clothes £300, fuel £5000, stationary £120, advertising £1000, phone £350
Total £10870
Then factor in that you only want/can work 46 weeks a year due to public holidays, the odd day off and a holiday a year.
Then factor in you aren’t getting a pension contribution as you are self employed.
You want a wage of £875 a week (£45500 a year)
£10870 a year expenses
Then if you was working in the public sector you would be looking at a minimum of a 5% pension contribution (£2275 a year)
£45500 wages
£10870 expenses
£2275 Towards a pension
Total £58,645
£58,645 / 46 working weeks=£1274 a week or £254.80 a day
If you just have your plastering head on and not your business head and charge £175 a day with the above expenses and the fact your not getting a pension and factoring in holidays etc then your actually earning about £104 a day.....You would be better off working for someone else and not have all the stress/bother of quoting, dealing with customers etc and be earning more money.
So to answer the question...yes you should be adding a mark up as you need to make as much as poss to cover everything including guaranteeing your work and the material you’ve provided. Anything you make on top by providing a markup could be profit for your business.....To not would be bad business sense imo.
You also have to factor in that you don’t get paid holidays or a pension.
Just for an example per annum...insurances £800, van on tick £2400, tools £300, tax and MOT £200, servicing £400, clothes £300, fuel £5000, stationary £120, advertising £1000, phone £350
Total £10870
Then factor in that you only want/can work 46 weeks a year due to public holidays, the odd day off and a holiday a year.
Then factor in you aren’t getting a pension contribution as you are self employed.
You want a wage of £875 a week (£45500 a year)
£10870 a year expenses
Then if you was working in the public sector you would be looking at a minimum of a 5% pension contribution (£2275 a year)
£45500 wages
£10870 expenses
£2275 Towards a pension
Total £58,645
£58,645 / 46 working weeks=£1274 a week or £254.80 a day
If you just have your plastering head on and not your business head and charge £175 a day with the above expenses and the fact your not getting a pension and factoring in holidays etc then your actually earning about £104 a day.....You would be better off working for someone else and not have all the stress/bother of quoting, dealing with customers etc and be earning more money.
So to answer the question...yes you should be adding a mark up as you need to make as much as poss to cover everything including guaranteeing your work and the material you’ve provided. Anything you make on top by providing a markup could be profit for your business.....To not would be bad business sense imo.
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megamix
Well-Known Member
Your bang on . Some weeks I’ve got a wad of cash then some weeks of got sod all after I’ve paid everything out . The amount of folks who who sound surprised when you tell them your day rate but like you say all the hours you don’t get paid for fetching gear and out at night pricing up . Not to mention the expenses and no paid holidays sick pay or pension . I’ve got a mate who’s a cop and he gets bloody rest days wtf are they ?
Rest days.....Makes me sick to think my taxes are spent on the plods rest days lol.
essexandy
The Lake Governor
Absolutely spot on, I've been saying this for years.
Most self-employed folk are delusional about how much they really earn.