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What does it cost to provide an hour of labor to your clients?

It’s really important to think about your cost of labor and business overhead costs because they give you a realistic picture of what you’re actually earning, and how much you should be charging. In today’s video, I cover labor costing, and how you can calculate labor cost per hour when you provide services to your clients.

How much are you currently charging for your tradesmen's services, and is that amount a true reflection of what you’re making? The truth is that many of us don’t know the real cost of our services as tradies.

In order to be a truly profitable tradie, you need to consider a number of key principles, and be a master of labor costing.

One of the things to think about is charging for unchargeable expenses. You pay your team for 52 weeks as an employer even though they don’t work for all 52 weeks. There are days that your team doesn’t work, including holiday time, leave, bank holidays, and sick time off.

You need to count what it truly costs and what you’re not charging. The cost per hour of providing services has to be spread out for unchargeable costs, and business overhead.

Stay tuned to learn more about labor costing, and see how you can measure the actual cost of labor, and figure out labor cost per hour, so you can charge better rates to your clients.

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