I have been woodworking as a hobby for over 40 years. I have made a lot of different items for my friends. with payment being a tool, etc. I have sense retired and looking at doing partime work but have no idea how to cost and price a job. Can any of you give me some direction?
Tough question to answer with out knowing your needs.
How ever I too am in that position, retired at 40, 10 years ago. I work around two pricing methods. Either I charge approximately $200-$250 per day for my time + materials marked up 140% or if for a friend or relative, $75-$100 per day + the cost of my expenses.
Damn, you're cheap! ;>)
Just starting another house, about six blocks from the last one you saw ... it'll be a few months, but you got time to team up on the kitchen?
Well, one thing you want to do to avoid criticism is acquire and maintain a large distribution infrastructure and inventory for the convenience of your customer, and sell based on acquisition cost. That way you won't be accused of avarice like the oil companies.
Seriously, let them pay for the current cost of materials and pay yourself a wage. Costs say 25 a day to insure, repair and run the machines, 25 an hour for me to be present. My structure.
You remember I am semi-retired and do this for fun, except for when I helped you out in the Spring. LOL.
Right now I am twiddling my thumbs. Gimme a call when/if you need help. I'll be happy to help out any time.
I posted pics on a.b.p.w. of the kitchen job that I did at the end of Spring. I had been waiting for the customer to have the tile back splash installed to take final pictures. But here it is September and still not tile.
It'll be about 45 days before I start the foundation. Once that's underway and the framing starts, I'll start planning the kitchen. Plus is that it's almost 'layout identical' to the last and therefore I've got most of the designing done, but I may want some of those corners you're famous for just to throw in something different.
These kitchens, and the master baths, is what is selling the houses in this area. But the short story is the thought of doing another entire kitchen by myself makes me tired ... the older you get, the quicker you get older.
Unless I suddenly get younger, I'll definitely want to team up on this one, and I know the quality of your work ... I'll give you a call when I'm ready to see if you're still available.
If you are retired and do not need the extra income you could do select projects that have some interest for you and charge the cost of materials, expenses for getting materials and running your tools and a small charge for labor.
If you want to run it as a business then you need to look at product liability insurance and detail all of your costs, then calculate a reasonable wage and profit margin.
That sound great. IIRC you had your raised panel doors done out side for the last house. Those are not too tuff. Did you see my pictures on a.b.p.w.?
Depends ... it's too easy not to use a friend with a door company who will cut the joints and panels for me on his equipment if I furnish the rails, stiles and panels roughed out ... also one of his "experienced" hands for help with assembly and sh*t work is hard to turn down these days
I haven't been subscribed for a few months, I''ll do so and go check 'em out. I far back do I have to go?
He posted some kitchen pitchers today.
There have been books written on this subject and you might want to check that out. "The Woodworker's Guide to Pricing Your Work" is one that springs to mind. If you don't want to buy it you could probably find one at the library or sit in a Barnes & Noble all day and read it there. After all you are retired, you've got the time now right? :)
This is basically the plan that I follow and produces what I consider a fair return. I'm a diy'r woodworker who is retired from unrelated fields and took up woodworking and carving after age 50.
Ahhh. You already have a pretty goo source it apears. I was not sure if you had a good source.
I posted the pics this morning.
Always ... hell, it's the only way to survive with a kid in college and property taxes you need to weigh instead of count.
I got'em ... well done, as usual!
LOL... Yeeeeeah... My son Bryan started college a few weeks ago. Thank goodness his scholarships are covering 75% of all expenses.
Thanks to all. Very good suggestions. What I am trying to do is a self-sustaining hobby.
Oh Brian..... I have more free time when I was working than now. My wife seems to thing that if I relax for a minute I might die so she keeps me busy.
Thanks again for the helpful comments.
Ken
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