chameleonhair
Member
Sorry to pester two times in two days, but I've had a search round and not found anything that answers my question.
I'm trying to work out how much to charge for my extensions.
I have set up a spreadsheet with the price of materials worked out to the last penny on it, I have then rounded this up to make a total 'materials cost'.
I've then put £10.00 an hour on for my labour (the same as my current job) then £5.00 an hour for general overheads (cups of teas, travel, possible booth/room rent etc) and worked out a flat rate for my extensions
The point where I'm getting lost is the final price. I'll give an example.
materials cost £90.00,
Overheads x4 £20.00
labourx 4hours= £40.00
Total Flat rate = £150.00 - Profit £40.00
I'm wanting to round this number up. Whilst I'm charging £10.00 an hour for my time, realistically, when I'm doind this a part time job, half of my day will be given up to a client (I'm expecting to have a morning appointment avaialble and an afternoon one). Also, whilst I'm charging for the hour for my time and using that as my 'wage' I'll be needing a little extra each install to save towards more equipment etc. So I want to add more onto this price to make it worth my while.
I don't want to alienate any possible clients by being too expensive, but I don't want to undervalue myself at the start and then alienate my customer by realising I'm not charging enough and then have to hike up my prices!
Any advice? How did you work out your prices?
I'm trying to work out how much to charge for my extensions.
I have set up a spreadsheet with the price of materials worked out to the last penny on it, I have then rounded this up to make a total 'materials cost'.
I've then put £10.00 an hour on for my labour (the same as my current job) then £5.00 an hour for general overheads (cups of teas, travel, possible booth/room rent etc) and worked out a flat rate for my extensions
The point where I'm getting lost is the final price. I'll give an example.
materials cost £90.00,
Overheads x4 £20.00
labourx 4hours= £40.00
Total Flat rate = £150.00 - Profit £40.00
I'm wanting to round this number up. Whilst I'm charging £10.00 an hour for my time, realistically, when I'm doind this a part time job, half of my day will be given up to a client (I'm expecting to have a morning appointment avaialble and an afternoon one). Also, whilst I'm charging for the hour for my time and using that as my 'wage' I'll be needing a little extra each install to save towards more equipment etc. So I want to add more onto this price to make it worth my while.
I don't want to alienate any possible clients by being too expensive, but I don't want to undervalue myself at the start and then alienate my customer by realising I'm not charging enough and then have to hike up my prices!
Any advice? How did you work out your prices?