A PLUMBERS GUIDE TO WORKING OUT YOUR PRICE..HOW MUCH DOES A PLUMBER MAKE? ALL IS EXPLAINED!

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How much should a Plumber Cost? How to work out your prices as a Plumber
In This Video, We'll Show You How To Calculate Your Price As A Beginner Plumber
A few weeks ago I done a video whilst I was doing various jobs and revealing how much I charged for each job. Today we will be looking at how I came about what I charge per hour, day and week.
This is just an example and should be taken for guidance only as each business will have different costs and overheads.
We will be looking at what outgoing you need to consider, talking about profit and a burn rate to ensure your business can survive.
Any questions or comments as always let me know and il do my best to answer
If this video helps you out please give us a subscription, share and like it’s much appreciated
Subscription Goal 1350/1500
Thanks as always for your continued support
#plumber #plumbing #business #businesstips #trade

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Опубликовано:

23 июл 2024

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Комментарии : 146

@bluebulldog_uk 10 месяцев назад

Thanks for your support again everyone, don’t forget to subscribe, like and comment 🙌👍

@simonelson7043 7 месяцев назад

Really great run through buddy. Gives a great idea of costs and pricing well done.

@christianstewart09 9 дней назад

Thanks, mate. I'm just going self-employed. So many hidden costed so thankyou

@simonworger 10 месяцев назад

Another great vid. I wish customers realised what it cost to run a small business they seem to think all the money we charge for a job goes straight in our pocket !

@bluebulldog_uk 10 месяцев назад

Thanks mate, would be rich people if it all went in our pockets 😅

@stevenmoody7806 6 месяцев назад

Great video and clear information Very interesting too

@Paul_YHPS_uk 10 месяцев назад

Perfect timing for me this video mate. It’s a lot to consider. I’m lucky I’ve got a book keeper who has been great at showing the way forward. It’s a big big commitment and challenge. I can only wish all those going the same route my best wishes. Great content mate. Keep it up. 👍

@bluebulldog_uk 10 месяцев назад

Good accountant/book keeper pays for themselves 👍 yes it’s a big commitment and scary to be honest when you first start but if I had choice I wouldn’t go back to being employed now…thanks mate appreciated 👍

@onosorotoma2897 10 месяцев назад

Thank you so much for this powerful information. I am really glad that you took the time to share this information with upcoming business

@bluebulldog_uk 10 месяцев назад

Thanks mate 👍

@garywilliams2226 10 месяцев назад

Great vlog mate, enjoyed it very much. Great insight into running your own gas/plumbing business.

@bluebulldog_uk 10 месяцев назад

Thanks Gary 🙌👍

@Micktheadventurer 2 месяца назад

Mate. You're an absolute hero. I'd absolutely love to have worked for someone like you. Thank you for sharing this knowledge.

@bluebulldog_uk 2 месяца назад

Glad to help

@Tyrell-Jemmott 3 месяца назад

Quality video!

@adriandeb2710 8 месяцев назад

Really clear and easy to understand, keep up the good work

@bluebulldog_uk 8 месяцев назад

Thanks mate 👍

@martinwright7093 10 месяцев назад

Excellent advice. To someone starting out I would say keep your costs down, don't buy thousands of pounds worth of the latest top brand power tools, try and buy just what you really need at the best prices, get a decent 2nd hand van or lease at a fixed price. But above all, do a really good standard of work, you won't have to advertise much...

@bluebulldog_uk 10 месяцев назад

Yeah great advice, exactly what we did, 2nd hand van, no press gun as tempting as it might be, made sure we was in time, answered the phone and done a great job and word gets around…thanks for the comment mate 🙌👍

@Adam-tn7yk 9 месяцев назад

I wish I could get a decent second hand van in London. Since the Ulez expansion prices have shot through the roof.

@julianpounsett4247 9 месяцев назад

Really useful info mate, just started my Air Con business in June and appreciate any help and advice and your video was spot on 👍 all the best for the future

@bluebulldog_uk 9 месяцев назад

Thanks mate appreciated 👍

@adriandarke5393 2 месяца назад

Hi mate, great vid..part of the out goings is phone and broadband, vital!. I keep some stock aswell.. doing oil boilers is extra cost, just like gas, but its the stock of parts thats needed with oil boilers too. All adds up!.

@bluebulldog_uk 2 месяца назад

Thanks for feedback mate 🙌👍

@tomaszr6990 2 месяца назад

So much value in this video 👍

@bluebulldog_uk 2 месяца назад

Thanks mate 👍

@johnward5006 10 месяцев назад

1st. Class advice! All those watching, take it all on board!

@bluebulldog_uk 10 месяцев назад

Thanks John 👊👍

@philipcollier420 9 месяцев назад

Really great breakdown of pricing. This has helped me out especially with the logic behind how many weeks and hours to use

@bluebulldog_uk 9 месяцев назад

Glad it’s helped out mate 👍

@d.costacostagliola7298 10 месяцев назад

That was brilliant mate, really well explained!

@bluebulldog_uk 10 месяцев назад

Cheers mate 🙌

@MagicDoughnut 9 месяцев назад

You're a star for recording this. Probably one of the biggest hurdle going on your own is properly pricing jobs!

@bluebulldog_uk 8 месяцев назад

Thanks mate 👍

@DM-nq7us 6 месяцев назад

Thanks for that really helpful.

@bluebulldog_uk 6 месяцев назад

No problem 👍

@SmartPipePlumbing 10 месяцев назад

Top video pal, handy little video for anyone starting out and for people like me that second guesses myself all the time

@bluebulldog_uk 10 месяцев назад

Thanks Mac 🙌👊

@Adam-tn7yk 9 месяцев назад

Fantastic analysis. This is really helpful. This is the first gas vlogger I've seen who has demonstrated how to keep the business successful. I offered a friend to fit a Tado thermostat for £80 and he asked me make it cheaper. It will take me 1/2 an hour to get there. You just can't win with some people. Keep up the good work. I wish you all the best.

@bluebulldog_uk 9 месяцев назад

Thanks mate really appreciated 👍

@accesszero4803 9 месяцев назад

Really good video ive work for my self for last 15 year and juat seeing it laid out like that makes u think

@bluebulldog_uk 9 месяцев назад

Thanks mate glad it’s helped

@leewade1043 10 месяцев назад

Superb mate totally true what your saying here

@bluebulldog_uk 10 месяцев назад

Thanks Lee 🙌👍

@richardlewis5316 4 месяца назад

I am most impressed with your financial assessment of how much it takes to run a business. Before I retired and became a plumber I ran a computer company and although the business employed over 100 people with a T/O over £1m the basic calculations for profit were how you stated them. Spot on. These days I try to price a job on a 'per job ' basis which sometimes gets people annoyed because the job only took an hour.

@Heatking 10 месяцев назад

Enjoyed that mate ❤

@bluebulldog_uk 10 месяцев назад

Cheers mate 🙌

@silverpuma7386 2 месяца назад

Really enjoyed your video and very helpful advice for new guys starting out on their new business. I'm just retired now but had my own modestly sized Plumbing and Heating company for decades. How I wish I had you tube videos all those years ago for advice like yours at the beginning. Your experience will help others a lot. One cost you may have missed was the weekly cost of your Van to either buy, so paying a monthly loan or lease payments or even if you buy with cash a older van you still need to set aside a monthly £300 plus to replace it in a few years. Anyhow keep up the good work and I wish you well for your future.....

@bluebulldog_uk 2 месяца назад

Thanks for the feedback mate much appreciated 👍

@jaffplumbs26 10 месяцев назад

Great vid mate, nice one

@bluebulldog_uk 10 месяцев назад

No problem mate 🙌

@stevesoapy7411 9 месяцев назад

Cracking to see a Black Country guy, doing a cracking job. Great advice and good break down of out goings for a small business. Boston video. From another Black Country tradesman.

@bluebulldog_uk 9 месяцев назад

Bostin 👊👍 thanks for the support mate much appreciated

@Mantakev 7 месяцев назад

Great example of how to work out a price.

@bluebulldog_uk 7 месяцев назад

Thanks 👍

@gizmotriner 9 месяцев назад

Awesome video, Bulldog! It's evident that there's a prevailing issue with how customers perceive pricing these days. It can be frustrating when you provide a quote for a job, and you're met with silence or open-mouthed surprise at the proposed price. Many people may not fully grasp the operating costs involved in running a business, and they tend to assume that professionals like plumbers are making a fortune. Someone earning £11 per hour at Tesco or £15 per hour as an administrator might not always appreciate the complexities involved and could perceive it as overpriced. Interestingly, burst pipes tend to be a potent motivator for them to understand the value of your service!

@bluebulldog_uk 9 месяцев назад

Thanks mate and thanks for the input as well much appreciated 🙌👍

@millshomemaintenance 7 месяцев назад

Great info mate 👍 think i need to take note! Working 7 day's a week for a wage at best has become depressing! appreciate your video & knowledge

@bluebulldog_uk 7 месяцев назад

Thanks mate hope it helps 👍

@brianjames3849 9 месяцев назад

Brilliantly explained, I explained to my customers your theory cos they haven't got a clue.i tell the ones who want the job for 1960s prices if you want a cheap loaf of bread you got to buy yesterdays loaf!,, Mr bulldog what determine your wealth is not what you earn its what you spend!!! Remember there are pools of customers who want a rolls royce for the cost of a mini. And the decent customers who want a good honest job . THATS THE POOL YOU NEED TO SWIM IN

@bluebulldog_uk 9 месяцев назад

Well said mate, being self employed you will always get people question your price but if you know what your quoting is a fair price for your business then quoting gets much easier, as you said you want the right customers as well 👍

@charliewillis8527 9 месяцев назад

Very good information your spot on with your thinking unfortunately most people that start up haven't got a clue .as you said if you do a job quickly why should you charge less

@bluebulldog_uk 9 месяцев назад

Spot on mate never be punished for being good at your job 👍

@dandan5501 9 месяцев назад

Great video

@bluebulldog_uk 9 месяцев назад

Thanks 👍👍

@TheMaintenancePlumber 10 месяцев назад

Great video mate

@bluebulldog_uk 10 месяцев назад

Thanks mate 👍

@jameswilson2899 10 месяцев назад

Top content mate,

@bluebulldog_uk 10 месяцев назад

Thanks mate 👊

@AllenHart999 10 месяцев назад

Very good video

@bluebulldog_uk 10 месяцев назад

That’s Allen 🙌👍

@robertmailer4978 9 месяцев назад

Very good 👍

@bluebulldog_uk 9 месяцев назад

Thanks mate 👍

@Snaggleplops 27 дней назад

Unless the van is leased you need a little pot of money for repairs too, I put £100 aside a month. Had a £800 bill for injector and fuel line last month, right kick in the bollox when it’s quiet.

@bluebulldog_uk 24 дня назад

Yes mate that’s a great shout…I always keep a little to one side which is good as it’s in garage this week for new sump and drive shaft 🙄😅

@HughTL 9 месяцев назад

very useful

@bluebulldog_uk 9 месяцев назад

Thanks mate 👍

@5084204 8 месяцев назад

Very informative video. Thank you. A few questions: How much would you offer for a good lead? If the job is too big and you take a fellow sole-trader to for example hang only rads, or to do the boiler?

@bluebulldog_uk 7 месяцев назад

If the jobs to big for me I have a few lads who I get in to help and they will charge me there day rate, normally thou we will work a day for a day

@Chatterisdotbiz 10 месяцев назад

Nice video, your profit will include a margin based the cost of sales, I.e. the % amount you add on all goods which you install, the company I worked for it was 35%, a friend works in a pet shop and their margin is 100%. Just don’t sell things for what you buy them for is the golden rule, loss leading rarely works.

@bluebulldog_uk 10 месяцев назад

Yes great point we are 20% on materials that again can account for call backs or items that need returning due to damage or fault etc.

@richardredman3947 9 месяцев назад

Outgoings. The van itself, tool insurance, bank fees, accountant fees, greggs👀 the 800 a month is very low but should be divided by 42 weeks you're working. There's 10 weeks at £185 you're missing. You've just chucked 1850 away and that's your holiday funds. £300-400 a day plus vat. Also. Never work price out on day rate and how many days you think it will take. The only person you put under preasure is yourself. Price should be a healthy amount more than day rate.

@jimd7305 8 месяцев назад

You missed a buggy, the purchase of the vehicle and depreciation or if leased the lease cost

@bluebulldog_uk 8 месяцев назад

Yeah if you lease you will need to put that into your monthly, overlooked this as I bought my van outright so classed it as a start up cost 👍

@tirvplumbing 10 месяцев назад

Mobile phone, tool insurance, pension, tool calibrations press gun analyser etc off top of my head. Appreciate the video bud I'm thinking of going it on my own after my level 2 night classes at college so this is great for me. 👍

@bluebulldog_uk 10 месяцев назад

Yeah if you have press gun, analyser calibration costs need to go in, tool insurance I would class as other insurances as I have all mine with one company…thanks for adding them…hope this helps when you go self employed mate 🙌👍

@griffithsheating 10 месяцев назад

One thing I always stress to suppliers and staff is that its a percentage game too. Your day rate is £270. one of lads takes it upon themselves to ignore your instruction and deviates from the plan and ends up using 'just an extra length of copper and a few fittings' that cost £27. Its not just £27 its 10% of your profit gone. Customer messes you about and you lose a day. 25% of your earning potential gone. Same with suppliers sulking that im arguing the toss over a 5% price difference. I'm spending about £200k a year with them and that 5% is a huge chunk of change its not just 35p on a bottle of inhibitor its big money and big percentages that can wipe out your good living without you even realising.

@bluebulldog_uk 10 месяцев назад

That’s very good advice 👍

@ianredfern9168 5 месяцев назад

If your employed you get holiday pay and a pension why aren’t these considerations too plus depreciation of the van

@janoswimmer1042 6 месяцев назад

You didn't mention the van cost itself, how much is a new van ? a second hand? How often does it need to be replaced?

@bluebulldog_uk 6 месяцев назад

Fair points I would put van as start up if you buy outright and add To monthly if you lease it took out a loan

@brethren4life152 6 месяцев назад

most people self employed forget about fuel costs

@peterreid4567 8 месяцев назад

I’d like to know what’s the basic price people charge for a basic combi combi swap. I’ve worked for years council contract work. £200 per swap.

@stepbackandthink 7 месяцев назад

We pay about £600 to £800 in London, plus VAT.

@peterreid4567 7 месяцев назад

@@stepbackandthink hi thanks. I’m in Essex and work around Suffolk as well. The most companies are paying is around £425. But you have to supply tube. All condense fittings even soak away and fit new wireless stats as well all included in price. Oh and lag flow return and hot pipes no matter where boiler is in house. And external condense you have to bring 32 mm into the house and lag external. Included in price

@stepbackandthink 7 месяцев назад

No one round here would work for that.

@chriscrandon9488 6 месяцев назад

Flue analyser calibration every year

@zenastronomy Месяц назад

my local quoted me 120+vat 😢 and no max

@paullbennett2923 10 месяцев назад

I can earn £1100 per week plus overtime working on site use the family car for travel to / from work , no gas safe , guaranteed hours etc. working for yourself isn't the be all and end all. If i was newly qualified i would consider going on site for a few years to really get used to the job , i wouldn't go working in private houses whilst still learning. I do commercial instal work and I've been a domestic and commercial engineer for 41 years.

@bluebulldog_uk 10 месяцев назад

To be fair I did earn a lot more on the books with the overtime but it wasn’t my own, I like the fact I can do my own thing now, newly qualified I would say go and try a few different jobs first to know what you want to do and enjoy, wasn’t till my 4th job I found breakdowns and that’s what I love doing. Commercial is an area I never tried but would love to have a go, I spent a day helping a commercial lad on a biomass system and it was really interesting. Thanks for the comment mate appreciated 👍

@paullbennett2923 10 месяцев назад

@@bluebulldog_uk Yes i agree you should try some other avenues before you take the plunge. There is a huge demand for plumbers to work on site. Agencies cant get anyone to do it. If you get on the right job you can earn some seriously good money in a short time. Great if you are saving for a mortgage or getting a deposit together for renting.

@bluebulldog_uk 10 месяцев назад

@@paullbennett2923 exactly what I did worked a lot of hours to save up for a mortgage and now I can balance work/life a lot better

@nivenwoodfine1928 9 месяцев назад

I still wouldn’t offer an hourly rate mate,I’ll tell them it’s an unknown quantity,an you’ll get your bill at the end of the job of what I think it was worth.it’s no different if someone asks for a price over the phone they can stick it🤣🤣I stopped doing that yrs ago

@davidrobinson6353 5 месяцев назад

Don’t forget the non payers , then the ones that take for ever to pay up.

@janlesinski4719 9 месяцев назад

Accountant

@Big_Old_Bondy 9 месяцев назад

This is confirmation that I am a busy fool

@thomasj5083 9 месяцев назад

A lot of these costs are very similar to what anyone has to pay to go to work. For example, running a car to get you to work, clothes for work. Also "profit" is meaningless if you are a sole trader. basically you're just factoring in a £50k wage. So the video is basically saying a plumber should earn £50k and this is what they should charge to do that, whilst having no other associated work costs such as travel and clothing. Take off the costs that everyone who goes to work spends on travel and clothing, add that on to the 50k and that's what you're earning in this example, compared to the average Joe. Not a complaint, just an observation.

@bluebulldog_uk 9 месяцев назад

To be honest a lot of what i mentioned Joe Public doesn’t have to worry about or even consider….If you work for someone that requires you to wear a uniform they will provide it, also most people will go to one place of work, drive there, work, drive home…trades are out and about in between jobs some days driving longer distances, I think a lot of the costs other people don’t have like trade insurance, gas safe yearly fee, gas re assessments, advertising, training on new products…there’s quite a few things To Profit is separate to your own wage, profit is within the business, to invest in the business or to pay for items like a new van when you need that, new tools, broken tools etc

@janlesinski4719 9 месяцев назад

£35 pound an hour my firm was charging 10 years ago

@canibrahim7827 9 месяцев назад

Van stock , you dont want to be running around all day collecting fittings!

@bluebulldog_uk 9 месяцев назад

Yes definitely van stock, I added this into my business start up fund and it just gets replenished now but stock always changes on van with new parts so worth keeping on top of 👍

@JimmMacc 9 месяцев назад

Can’t price in the old razzle dazzle ;)

@todtod1812 9 месяцев назад

Accountant fees, tax, National insurance and pension?

@bluebulldog_uk 9 месяцев назад

Tax I do mention in there, NI if your LTD, unless you pay yourself over the threshold you don’t pay NI, sole trader yes you would have to pay NI, pension is another one people should look into or other investments, accounting fees if you want a professional doing your books which I would recommend, great points thanks for the comment

@FlowRight 10 месяцев назад

Charge what your worth provide a good service ,never aim to be the cheapest ,double your price ,you can then do half the work and relax on the work you are doing , and if i said quadruple your price you all would lose your mind .

@bluebulldog_uk 10 месяцев назад

I would say look at your conversion rate on quotes as well, if your winning all your quotes definitely too cheap

@andys121. 7 месяцев назад

accounts fees maybe

@charliewillis8527 9 месяцев назад

And also it takes years to build a business to get enough work all year round

@bluebulldog_uk 9 месяцев назад

It does mate remember my first year, was touch and go some weeks for work but now I’m doing ok, plenty of calls and opportunities

@stephentaylor8396 8 месяцев назад

Question, are you a sol trader ?

@bluebulldog_uk 8 месяцев назад

Yes mate just me

@neiltitmus9744 9 месяцев назад

Accountants

@bluebulldog_uk 9 месяцев назад

Yep great shout 👍

@timothybloomer4246 9 месяцев назад

As a customer i am happy to pay for time, expertise, skill, specialist tools, reliability peace of mind and good advice. What i don't want to pay for is time taken to go and get 90 degree elbows or a piece of copper pipe. And i don't want to pay extra to rectify mistakes and poor workmanship. It also helps if the tradesman turns up in a reasonably good mood and preferably when they said they were going to come.

@bluebulldog_uk 9 месяцев назад

Plumbers can’t keep everything on a van there will be times when it’s something we just don’t carry like a part for boiler or specific toilet part etc, unless customer supplies it’s the time to arrange to collect/order which unfortunately needs to be accounted for, no one should have to pay extra for poor workmanship or mistakes but there will be times when circumstances are out of your control, like a manufacturer part that’s faulty under warranty under your company’s guarantee period. And 100% good manners, polite and on time should be part of any company’s business model.

@thebear4740 10 месяцев назад

Cost of purchasing a van

@bluebulldog_uk 10 месяцев назад

I would class that as start up cost unless you lease or take a loan out to purchase a van then it would be a monthly

@TW-mp8zx 10 месяцев назад

INFLATION is possibly worth a mention

@bluebulldog_uk 9 месяцев назад

Absolutely got to give yourself a pay rise in line with inflation every year which means your prices will go up

@stepbackandthink 7 месяцев назад

If your prices are reasonable, you don’t need advertising.

@PlumberChic 2 месяца назад

Yes! Never advertise because I'm not price gouging, take pride in my work and I'm honest

@rustybridges4302 2 месяца назад

That is the most backwards business practice I’ve ever heard heard

@stepbackandthink 2 месяца назад

@@rustybridges4302 it’a actually the most logical and the most profitable.

@Oliver-vx9kq 7 дней назад

Untrue

@stepbackandthink 7 дней назад

@@Oliver-vx9kq I’ve never spent a single penny on advertising, so true.

@nivenwoodfine1928 9 месяцев назад

Price work every time,I can’t live on an hourly wage,an I’m not working like a slave an breaking my body for a hourly rate it’s not worth it,you might as well do site work.

@bluebulldog_uk 9 месяцев назад

Hourly I would recommend for unknown like leaks or gas escapes them jobs that are unknown if you know what I mean…very hard to fix price, price is better when your experienced 100%

@24bellers20 7 месяцев назад

You never mentioned what you can claim back for tools, uniform, etc. from our friends at HMRC. Bit one sided. This explains why I do my own plumbing and only get someone in for gas. 😊

@janlesinski4719 9 месяцев назад

12 hours a day 7 days a week and still not rich

@bluebulldog_uk 9 месяцев назад

Sounds about right 😅

@clarkeysam 9 месяцев назад

6 hours a day, 42 weeks a year? Who do you think you are? A teacher?!

@bluebulldog_uk 8 месяцев назад

Think you might have misunderstood, some weeks have been taken into account for unplayable roles you have to fulfill in running a business and you work for 8 hours, but can only charge for 6 hours