Let's review some of the issues contractors have with raising prices and how you can overcome them.
In a recent article, I explained why you could not make money charging $25 an hour. The response was extremely positive and readers wanted to know what the proper price should be. Not knowing what to charge and the fear that you cannot raise prices is one of the greatest causes of contractor failure. Let's review some of the issues contractors have with raising prices and how you can overcome them.
So the first rule in raising prices is to have a real price you determined with facts, not assumptions, or by the seat of your pants. I can tell you that most contractors need to be charging $35-45 an hour, plus materials, but if your actual cost is $32 or $49, this is just not going to work. You have to know your costs and determine your own prices.<