Originally Posted by supersmurf666
Hello guys.Im just starting a little hotrod garage and need to no how much to charge an hour.Its just me with very little overhead.Any advice would be great.Thanks
I opened a shop with the knowledge you have, ZERO, it didn't go too well.
Listen, you REALLY need to get some business education. Because you can do the work out in the garage only means you are a guy who can do some work out in the garage, it doesn't make you a BUSINESSMAN which is what you need to be!
Forget what you THINK you know about business, you know NOTHING. Get some knowledge, take a course or two in your local community college. Read some books, do something! But don't think because you can work on cars you can run a successful business.
I struggled for 13 years before I went out of business. I have since gotten a lot of info thru following jobs (working for the man
) and think how valuable this knowledge would have been about twenty years ago when I had my shop!
You are going to be running a "time factory". You need to sell time for more than you paid for it, that is the basic of a service business. You then have to cover overhead and the like. Now, if it is just you and very little overhead just set you hourly labor rate at a dollar an hour, right? NO, but that is what you are asking.
You need to be paid for what you are worth, you need to know what similar shops in the area charge. You need not to sell yourself short. If there is one thing about a service business there is ALWAYS work. If you are doing restorations, you can have a friggin shop FULL of restorations, it isn't hard to find work! So don't give away the farm! Charge what the going rate is, I don't give a crap if you are making 500% GP that is what you SHOULD be doing, getting as much as you can.
Believe me, if you give away the farm, the "image" of your farm will be small.