Customers tend to prefer paying a flat rate for their plumbing and home services needs, rather than a varied hourly rate. Plumbers will be able to utilize this calculator to pre-plan service jobs, enabling them to estimate time, rate, and potential profit margins.
The flat rate pricing calculator is ideal for plumbers but can be utilized to fit any home services professionals’ business needs.
Step 1 Figure out cost of job:
(NUMBER OF HOURS FOR JOB) X (HOURLY LABOR RATE) + (ANY DOLLAR COST OF ADDED MATERIALS)
EXAMPLE: Flat Rate Item 1:
3 hour job
$35/hour in labor
$1000 in materials
(3 hours) X ($35/hour) + ($1,000) = $1105
Step 2 figure out price with profit margin:
(TOTAL COST OF PROJECT) / (1 MINUS PROFIT MARGIN)
($1,105) / (1 - 0.4) = $1842
The final price for your flat rate of that specific job will be $1842 and is what the customer will pay.
To the right, STEP 1 will allow you to fill in the corresponding values and provide you with the values from the formulas illustrated above (all example values are populated)
Just fill in for cells F5 (Labor Rate) E6 (number of hours) and F6 (materials) and F10 (desired gross margin) and the values for Standard rate, discounted rate and after hours rate will automatically populate.
From there, you may fill in the corresponding value in the respective field in the "flat rate schedule" sheet
Stay one step ahead when pre-planning jobs, estimating time, rates, and potential profit margins with this plumbing flat rate calculator. Click on the link to get yours today!