How Can I Make Money As An Electrician?
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- เผยแพร่เมื่อ 26 ต.ค. 2023
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Fantastic. Brings me up to todate with reality as a retired sparks. Age 76. Glad I am out of it now. Had some good times. You Certainly have more overheads now then I had back in 1968. Land line phone was a luxury then. I had it installed just for the business at the time with my late twin brother back in Kent. Was Trained at E Saunders Margate originally. Late father also Ex Saunders and Saunders still in business, good luck with it all and may you progress. I moved to merthyr tydfil Wales some years ago where I feel more relaxed.
Really appreciate your honesty with these videos. You’re right of course. People don’t tend to talk about what they charge let alone what they make after all costs and videos like this help people - both in and out of the trade - realise that the price is just an honest days pay for an honest days work. Your prices are very reasonable especially given the quality of your work. Thanks Nick!
You share a ton of valuable information on your channel, for free!! I really appreciate it, as I am an aspiring electrician myself, looking to qualify and pass my AM2 next year. Personally, I think your rates are very reasonable, considering your high standard of work. Complete and full honesty and transparency are rare in the trade these days. It's no surprise that you have built a brand many people can trust.
Absolutely brilliant Nick. Still the best honest electrician on TH-cam.
Congrats on 100k Nick, very well deserved! Keep it up buddy
I love how transparent you
Are mate. I set up on my own in April and it’s tough as you say it’s not always guaranteed work, it nice to see how you work out your pricing and break it down my works security installations so abit different but I’m guessing the same hassles and rewards at the end of the day.
Congrats on hitting the 100K Nick. I think you can double that annual costing tho tbh, definitely from my perspective anyway. Depreciation of assets E.g. van, tools which need to be renewed also being an electrician or similar trade there is always continued training courses whether it be updated with wiring regs, new skills or manufacturer training which costs a number of unpaid work days as well as the costs of the training. I personally look at £80-90 a day to just pay for all that every year but it all depends what you do and where is suppose.
Great video, thanks for sharing 👍
Congrats on the 100k btw. Be interesting to see how the profit averages out over the year and it's apreciated showing the transparency, helps people understand what they are paying for.
Thanks for doing this one Nick, definitely a bit of an eye-opener in terms of how to think about potential earnings
Gratz Nick on reaching 100k! Nice video again.
Thanks for your honesty Nick. As you said you trained and worked hard to get there.
Like loads of other professions
The trouble is . Most Joe Clients don't care they want a good job for a low cost price ( not all , some.)
They will never understand/ appreciate how we got where we are .
Congratulations on on hitting the 100k mark, very well deserved, and yes we spend four years at college training to be sparks the work hard once in the real world so why shouldn’t we earn a good decent salary.
Great insight on how you keep yourself organised 👍
Great breakdown and reality check for customers complaining about prices!
Well done! So many people think a working year is 365 days not 260!!!!!
enjoying the videos from the states! GA! my nightly wind down routine
Great stuff! Keep up the good work!
Epic video buddy smashing out the videos as per usual 👌
Great video mate! I’m in my final year of my apprenticeship now, so it’s good to see videos like these.
On another note, I noticed you used a Verso board on this job.
What’s your opinion on them? Done a couple myself, and I really like them, but I know a lot of people who haven’t even heard of them yet!
congratz on the 100K bro.. great job..
🎉100k that is for being great at your job but also for explaining and showing how it is all done, and and decent cost and a great job well done. 👍👏
Well done Nick! 100k BOY!!!!!!!
Have never broke everything down like that before - like it 👍
great vid, and great stats.... keep it up chap...
Congrats on the 100k bro 🎉
Thank you for the breakdown.
Absolutely...
More to it than Jo Bloggs realises.
Great videos.
Thank you
Nick what a video! not many trades tell off what they earn, i think if you can make a video regarding prices for certain jobs that would help a lot. Thanks
Thanks Nick, really useful vid mate.
Nick I am going to put this comment here, I'm a mechanic and MOT tester and I get paid an hourly rate BUT the minimum wage keeps going up and mine does not I used to earn twice the floor sweepers rate now I look at my level of legal skill and go I don't need the hassle I may as well drop a grade and sweep the floors today ! great Vid Thanks !
Congratulations Nick 🎉
Well done on the 100k. How do you cover the unit costs and tool replacement costs ?
Congratulations on the 100k subs 🎉
Great Video Nick👍
That is awesome for Break down for profit thanks Nick
Good break down, well said as well we have to put some away for slow times holidays ect
Very interesting mate im self employed hard to track what actually ends up in your back pocket .I use simply business for my public liability great price .Worth a look upon renewal 👌
Having listened to your rundown of all the things you have to sort out and pay for I'm bloody glad that I was an Industrial JIB GOLD CARD APPROVED sparks for 50 years were I just worked on some of the biggest contracts in England where I was just a number who turned up carried out my work left alone to ply my trade,yes I did run jobs with many sparks under my control which gave me a buss but I couldn't but up with all the bullshit you have to put up with fair play to you mate I wish you well make a profit that's what you graft for you seem to be a very competent sparks I worked in the industry in the best times the 70s and 80s and early 90s,the only course I took after leaving college was the 15th edition yet because I was a competent person I was able to run jobs without taking that crazy foreman course,I did testing for major electrical companies without paying thousands for a testing course and exam so I feel I was lucky
Good insight into how a sole trader works it out. Congrats on the 100k as well.
As a little saving if ford service your van you should get ford assist included im not sure if you get it with commercial but its a pretty good cover included.
Congrats fella
100k and still a decent channel to watch
Brilliant video Nick! Cracking job considering the tiny area you had to work with. It’s made me realise that we’re not charging anywhere near enough. 😮
True dat
But tbh the space is massive
But the charging comment is true amd lets have it right except for the cap Nik is a belter
Great video mate - very genuine
Well done on 100k subscribers
🙌🏻 needed!
Love the video appreciation for engineering trades is poor pal so hopefully people will realise how much work goes into it
As I use to work in London , ( central) west end , Camden all nw. And suburbs .. your prices are fair .. but we charge more in London ..what you have gone thru with costs are spot on , most people do not understand that … glad I have retired now. No more chasing money … or jobs .. but I enjoyed it
Well deserved Nick. 👍🏻
Congratulations on the 100k big boy!! 🎉🎉🎉🎉🎉🎉 get that 100K plaque ordered up Son!! 😂👏🏻👏🏻👏🏻👏🏻
Watch you back Jordan! 😂😂😂
You might have missed off all the training you need and qualifications to get you to that level of basic earnings. Great video all together. Clear and to the point. If I could start my career again. Would I be in a trade?
Great content, Nick , Sharing the business aspect of your costs , apprentice Sparky, this will helps to know what’s involved in starting up your own business. ⚡️👊
Hi Nick it's great that you've now reached the 100k subscribers I am just wondering when are you doing the giveaway as I don't want to miss it lol and it is so good about your 100k not only that this time next year you will be celebrating 300k
Thanks for the insight.
Great to see how organised you are. This then Carrie’s over to you work qualities. The old saying is “you get what you pay for”. Pay cheap than you get cheap. I’m sure we have all regretted a cheap purchase. Well don Nick.
Great video, thank you.
Congratulations from Florida
Admire your honesty dude, always have. Is there a reason why you didn't consider moving the board out of the meter cab? (Not a criticism, genuine curiosity) :) I find that I have lost a couple of jobs lately because of insisting upon doing things 'by the book'. What I mean is, for a board change for example, I ask that the client have an EICR first and get an isolator fitted and because their provider wont get round to suite their deadline, they choose somebody who will just crack on. I'm not crying or starving due to losing those jobs and stand by my decisions, just curious to know how others approach these situations. It's not like I am scared of pulling fuses, just trying to follow guidance.
Brilliant video, you should do a video on yearly amount too, so people know if it is good to do so or not?
Can’t wait to see the 100k vid
3:50
That "point" of isolation is ONLY for anything after that mains switch.
What you "should" have done is ask the LINES company - to pull the incoming MAINS FUSES at their street side access point, to ensure the INCOMING MAINS CABLE (that feeds your main switch) is also deadened.
Double & Triple isolating, your work to do, inside that switchboard cabinet.
Next time maybe (if doing another mains related video)
my biggest fear of going self employed is been busy then having nothing for 3 days... would scare me.... appreciate the honesty
(Irish Spark)
Big Mannnnn smashed it 100K let’s go get 500K next 💯
Really needed to add few bit but very interesting 😊
Brilliant video mucka, good on ya talking money and earnings.
But I think your profit realistically was £350 - £375 taking out tools. calibration. Van loan / replacement ect ect... keep up the good work
Hi Nick many thanks for sharing this video. I feel you could have added to these figures as what you have given is a little distorted. The days in the year are not 260 here is what 365 - 104 weekends is 261 days -bank holidays 8 days leaves 253 then minus 20 days holiday is 233 days. If you were employed you would need to add a cost of 28 days as an overhead to workings out. Furthermore there is the time spent in the office where you also loose 50% of your time quoting as you don’t get every quote you get. I still feel it is a great help to get people to understand.
Can’t be anymore transparent than that Nick, I have this battle day in day out, people think you are trying to pull their pants down, I may add a link to this video in future to save me the explanation 😂
very good earnings. well done pal
I’m about to start a career change at the age of 37. I’m generally really excited at the prospect of potentially becoming an electrician. I’m giving myself a 4-5yr window, will still be in my current job while I’m learning and training. I know full full well it’s going to be difficult, stressful, tiring, but eventually I will get there with persistence. I will get there.
9:00 nice iPhone stand and induction charger. 😊
Congrats on the 100k!
You, however, forgot to add on a few things. Van depreciation, tires etc... and personal pension as one day you will retire and need a pension. You also forgot about banking cost as business banking is not free either, plus the cost of your card reader, cheque deposits etc. Then you forgot about running the ltd, so you have companies house wanting their slice of money, plus HMRC... It's less profit than you have said.
Very interesting video. I feel you are potentially missing some additional costs. The van for one - even if its paid off, you still had to save for it etc so amortise the cost over the expected life of the van. A contribution to the tools too - they won't last forever, and Bosch may not always provide them for free or discounted. Then include the unit costs - rent, power, Internet, collecting your neighbours rubbish etc. I know you said previously that it's paid for by TH-cam, but its still a cost you are on the hook for. I'd be surprised if you didn't need to earn at least £100 a day to cover your costs before you get out of bed.
Great work on the vid though - interesting to see the profits involved. I'm always sceptical of tradies that are really cheap. I fear they are either doing a cheap job, or they are going to stitch me for some "extras" that I have no real way of avoiding.
That £461 has to pay for your out of hours work, your holiday off & sick days. & your future pension when you retire. Suddenly it doesn’t sound as much as it should. Great vid as usual Nick.
Congrats on 100k! I hate when customers used to say “how much! You have only been here 30 minutes” I always said, It’s taken me 20 years to know how to do that job in 30 minutes. You owe me for the years not the minutes!
Get real. There's nothing a sparky does that takes 20 years to learn.
He said to do it in 30 mins. You clearly are one of them twat customer 😂😂😂
@@ChrisLee-yr7tzI’m not a sparky 😂
Nick I'd love to see Jordans breakdown
Been self employed for 16 years mate and I just had enough I work for a company now and the stress taken off is crazy I feel much better, I will always miss being self employed though it was great
Great info.
100k get in there saaan 👊🏻
OH well done on the 100k subs
That’s a very good price, for a DB change,
Very fair prices ..
I'd be interesting this type of breakdown on a Full Rewire inc Dist Board, socket's, Light Switches etc, I think this was very interesting Video
Subjective as some people are much quicker than others with these
That's very good as a friend was ripped off in Tunbridge Wells Kent. He paid £2000 just for a new consumer unit 20 years ago now. You should be paid well.. Lot of training nowadays and more responsibility. Many trainees have given up within 6 months as they had not realised how much technical knowledge you required. Many did not understand ohms law , the very basic of maths. Kids of ten can do that. It's an everyday calculation to me as i am also into electronics's. Thanks again
Nick. Are you from Cannock?
Is that a map of Cannock chase on your wall ?
I've got a question man. My job is to service and install emergency light fittings. The company I work for asks me to replace the whole light fitting if there is a fault with the light (instead of just replacing the lamp or battery if the light isn't working). I had a job the other day where there was a fault with the light and when I tried to change the fitting I saw that it had 3 solid metal pipes running through it. I made a report stating that I wasn't able to change the light due to the solid metal pipes that were going through the fitting but my boss still seemed to be upset by the fact that I didn't change the fitting... How the heck am I supposed to change a light fitting that has solid pipes with fire rated cables going through it??
Did you not take into account Adams wage for that day? Also do you pay into a pension?
How do you do a certificate before doing the job? as you wouldn't know test results, points served etc...
Good video, well explained.
I'm £70 to £75 per breaker in a board change unless its only a 2 way board 😅.
Did your £750 include an eicr ?
Any developments on the pricing pdf ?
Top man
His £750 is all in for a board including tests. I think hes said that before in a video
100k legend mate. You deserve to make a decent living as you say that’s the whole point of studying hard. Don’t see people moaning when supermarkets make 50% profit margins
2:10 Nick Bungee! 😂
Are you vat registered? Take it you claim vat back on materials, tools and everything else you can claim on? So that's more in your pocket. Great video and very interesting.
Yes and no, cause when your VAT registered you have to charge VAT. Only way to get money in your pocket from VAT is if you make a loss, you always end up paying the VAT man.
Nick you forgot the cost of your unit pcm. The cost of replacing a van over years. Treat it like a van on a monthly payment. 25-30k van will need replacing maybe every 10 years?
Not to mention the cost of your communal waste bin 👀 not to mention
How long did it take you to test after the installation Nick? that's my achillies heel I'm just not that quick at testing 🙄
Do the dead tests whilst you are connecting the cables into the new board . The remaining tests shouldn’t take you an hour once energised .
I would enjoy seeing the profitability of a 'typical' rewire. I'm about to start my electricians course/quals at the advanced age of 35.
It will all depend on your experience you won't be as neat or good as someone who been doing it 10 years
From what i see on jobs it’s often the old boys that just chuck it in. A lot of the younger lads are significantly neater and more careful.
🤣@@peterwollaston9556
@@peterwollaston9556lol. That's extremely subjective.
what camera do you use?
Minus your wage, holiday, sick and pension contributions leaves the profit for the business. I think youve been very generous with how much youve taken home as "profit".
Looks smart AF
Donyou mind if i ask why did the ccu need to go in the meter box. Only as as i am a meter monkey id like to be like yourself oneday. Biggest issues we are finding is space for metering equipment in meter boxes. Thats 3 phase stuff to single rate. But sparks has filled it with his equipment. Solar or car charging stuff. Only as as curious. Maybe cost ..
Once you are up and running with NAPIT, how much does it cost to renew? Is it every 12 months?
I should have watched the rest of the video before typing....
Great content. Plus you have to take into account training days that you can't earn money. Plus you may not always get paid.
Did you miss out the rent on your unit? Our wardrobe-sized lockup is our biggest expense and even with charity discounts it costs us 2K a year