Price Work V Rates Per Hour

[Evapman7]

Hi guys

Im looking for any information or peoples opinions on this subject. I have been offered a chance at doing some sub contracting work for another company. We have settled on a rate per hour (thinking its the more safer option), but after speaking to one of the bosses who i trust pretty well.i have been told the more profitable choice could be set price work.

I have no experience at doing price work. How does this work say on big jobs where lasting a couple of months. Do you only get paid once the job has been completed.

Sorry for sounding like a n00b

[eggs]

Hello Evapman.

I'll try to help, even though my knowledge may be out of date.

About 3/4 years ago, for daywork we used to get between £300 and £350 per day for a pair (fitter and mate) labour only. Any materials were charged extra for. The odd window bracket,length of screwed rod or nuts and bolts were forgotten about if you had them in the van.

For price work, including materials, we would get about £900 for cassettes, ducted and under ceiling units for pipe runs upto 20m ish, wallmounts between £450 and £600. All excluding mains electrickery. Add about £15/m above 20m.

When them clever VRF/VRV thingies were being installed, about £600 per indoor unit was the going rate.

I really do not know what going rates are now, but these are what we used to regularly get a few years ago.

Cheers

eggs

edit: payment terms were on a monthly valuation term. ie. at the end of the month you agreed how much of the contract was complete. If it was 60% complete, you invoice 60% of your price (then cross your fingers and hope you get paid)

[R1976]

Why is it half the price if it's a wall mounted system?

I can install a cassette much faster than a wall mount, lots of messing around with trunking and pumps with wall mounts.