This guy's a laugh. Broke less than 6mo ago, not broke now, still doesn't fully understand why, though at no point in this journey has he not seen himself as an authority in business, golly. While the theory has come a long way, he still cannot grasp that a single $200k job costs significantly less to carry out than 100 $2k jobs, as in, construction compared to residential service. Shut the construction side down and run 100% residential service at these rates for a while, if nothing more we won't be getting trash "advice" anymore from somebody who doesn't understand he's subsidising what residential he does do with larger projects.
@@Mr-Yan. why would I want to shut my Construction side down and do 100% residential service? That’s where you guys went wrong. You have no consideration for volume. You have no consideration for sustainability. Let me ask you this? Since you know that what I do is so efficient and easy to earn margins in a way that does not ruffle anyone’s feathers or have people thinking I’m a crook wouldn’t you want to incorporate what I do? I play your game. I do take residential calls. I also do major construction projects and universities and hospitals. I’m currently doing three different projects for city governments. I’m also doing a lab remodel for a major university where we’re doing glass pipe and shit. You see that I’m fucking banking here, right? You see that I don’t have to advertise right? So why is it that I want to not be so ridiculously efficient? What am I missing here dude?
Yooo I haven’t even watched this video yet but I already know this is gonna be some gold! Big love from south Florida you doing gods work out here Thought this was very insightful! Thanks so much brass man
Lmfao!!! Brassman.. u Daman brother.. I'm in the works of getting my own business all figured out... Been plumbing for 14 years.. I love haters too.. I'll work 3 days an be off for 2.. an everyone I know is like...how u do that.. don't get me wrong.. i dont do service.. so I put all the jobs together as the come.. but love your story an love your inspiration man wish I was close to Texas.. I'd so buy u drinks all night and get u a Uber home... com'on.. 2 months stong..mountaineer plumbing In west by God virginia...wv. to all those haters!! dawg let'um hate.. shit yeah!! U my role model.. I'll have me a shop an a bad pack out wall too.. then maybe I'll start my own story👊🏼👍🏻👊🏼
Thanks for the motivation, working on my welding and powder coating business. Iv always had the mentality of being the best at what I do, so now that I’ve built the skills I’m chasing the business side to be the best
Wow look at you! Along way from the scrap piles in the garage! Lol 😅 I agree with you on your margins! People have no clue on overhead and what it really cost to be legit!
Thanks for sharing your knowledge brother. You're right - you need to master your skills first and understand the real cost of things before using this formula!
If quit smoking and start chewing gum instead it will likely save you $$$ in medical bills and also give you more time to earn money as you will be healthier 🙂
Youre such a cool guy that the world needs you around! I know this is sort of shaming, but please stop smoking and go for a walk a couple of times a week and stay around for a long time!
@@bakkskive I did quit smoking actually. It’s been over a week since I had a cigarette. I’m not even exactly fat though so I don’t know if I’m gonna be going for walks lol.
@@henrymahoney7072 no, that would be a 30% mark up. If you do that your profit won’t represent 30% of the sale. You divide the cost by .7 so that way it represents 70% of the final sale price. Let’s say you are selling something that costs you $100. If you do a 30% mark up you don’t get 30% profit. Example, 100 x 1.3 = 130. $30 is not 30% of a $130 sale. that’s not a 30% profit. To get a 30% profit margin on 100 you need to divide by .7 so 100/.7= 142.85. If you do the math and see what 30% of the final sale number of $142.85 by multiplying 142.85 x .3 you will see that it is 42.85. Meaning the cost of the sale was 100 which represents 70% of the final sale price and the gross margin is 42.85 which equals 30% of the final sale price.
Henry you are correct if you want to make 30% of $100 you would sell at $130. What he is talking about though specifically is profit margin of 30%. One is just the % of the sale vs the cost, and the other is the % of the sale profit vs the revenue. 42/142 = 30% profit margin. He is making more than 30% of 100 its not magic, 30 is still 30% of 100 😊 its just accounting terms. The more complex notion in business is gross vs net profit, whereby in isolation a good or service can seem profitable but given the wider context of costs around it mean it may not be, this is gross vs net profit.
@@hollow9126 the reason you don’t is that isn’t a good representation of the final sale. I add 50% gross on small stuff, 40% gross on medium stuff, and 30% gross on big stuff. So if 50,000 is what it cost me for a job I want to that 50,000 represent 70% of the final sale. To do that I divide by .7 which will give you a number where 50,000 is 70% of that number and the other 30% is your gross profit.
bro love ur channel but u say you smart, u making all the good decisions in your business but your killing yourself with that smoking , ur gona be rich and then u realize u smoked to much and realize how dumb it was , u smarter than this come on , i know how hard the grind is , to grind for 10 years something, like bro we gota be healthy when we get there if no tthen its all a waste, health is wealth
Glad you been watching Jered Williams pricing podcast 🤣🤣🤣🤣 i started using it when I heard it too
lol I ain’t no weasel
Cant wait to see your video on how to start a subscription based plumbing service 🤣🤣🤣🤣
@@rustybridges4302 it just released today. It’s called the “give Brass your cash program.”
This guy's a laugh.
Broke less than 6mo ago, not broke now, still doesn't fully understand why, though at no point in this journey has he not seen himself as an authority in business, golly.
While the theory has come a long way, he still cannot grasp that a single $200k job costs significantly less to carry out than 100 $2k jobs, as in, construction compared to residential service.
Shut the construction side down and run 100% residential service at these rates for a while, if nothing more we won't be getting trash "advice" anymore from somebody who doesn't understand he's subsidising what residential he does do with larger projects.
@@Mr-Yan. why would I want to shut my Construction side down and do 100% residential service? That’s where you guys went wrong. You have no consideration for volume. You have no consideration for sustainability. Let me ask you this? Since you know that what I do is so efficient and easy to earn margins in a way that does not ruffle anyone’s feathers or have people thinking I’m a crook wouldn’t you want to incorporate what I do? I play your game. I do take residential calls. I also do major construction projects and universities and hospitals. I’m currently doing three different projects for city governments. I’m also doing a lab remodel for a major university where we’re doing glass pipe and shit. You see that I’m fucking banking here, right? You see that I don’t have to advertise right? So why is it that I want to not be so ridiculously efficient? What am I missing here dude?
Channel is a hidden gem
Yooo I haven’t even watched this video yet but I already know this is gonna be some gold! Big love from south Florida you doing gods work out here
Thought this was very insightful! Thanks so much brass man
Lmfao!!! Brassman.. u Daman brother.. I'm in the works of getting my own business all figured out... Been plumbing for 14 years.. I love haters too.. I'll work 3 days an be off for 2.. an everyone I know is like...how u do that.. don't get me wrong.. i dont do service.. so I put all the jobs together as the come.. but love your story an love your inspiration man wish I was close to Texas.. I'd so buy u drinks all night and get u a Uber home... com'on.. 2 months stong..mountaineer plumbing In west by God virginia...wv. to all those haters!! dawg let'um hate.. shit yeah!! U my role model.. I'll have me a shop an a bad pack out wall too.. then maybe I'll start my own story👊🏼👍🏻👊🏼
Hell yeah dude!
This is great it’s easy to understand. just what I was looking for much love from NJ.
I’ve been wanting to hate but you’re just too relatable sometimes so I let it slide
Thought we were cool dude. Better bring some heaters or I’ll think you’re soft.
Better advice then ive got from most I am just figuring this out as I go and stuff like this helps I am a dum dum too.
Everything you said was 100% works for any labor based hustle
Thanks for the motivation, working on my welding and powder coating business. Iv always had the mentality of being the best at what I do, so now that I’ve built the skills I’m chasing the business side to be the best
Wow look at you! Along way from the scrap piles in the garage! Lol 😅 I agree with you on your margins! People have no clue on overhead and what it really cost to be legit!
Mr Brass man , you are dead on in my book.
I do 38%on most jobs.
40 to 50% when I deal with difficult jobs.✌️
Keyword: "cost of sale" >> cost of materials and services.
Thanks for your videos and insight brassman. You should have a brassman meetup at somepoint.
Hard to loose money in plumbing unless you don’t know what you’re doing.
🔥🤙
Thanks for sharing your knowledge brother. You're right - you need to master your skills first and understand the real cost of things before using this formula!
Great video!
One man company going to start to implement this .6 thank you
Divide by .6 not .06 lol. If you can sell a job with that margin you let me know lol.
Good stuff - thank you !
If quit smoking and start chewing gum instead it will likely save you $$$ in medical bills and also give you more time to earn money as you will be healthier 🙂
Nice break down bro
Youre such a cool guy that the world needs you around! I know this is sort of shaming, but please stop smoking and go for a walk a couple of times a week and stay around for a long time!
@@bakkskive I did quit smoking actually. It’s been over a week since I had a cigarette. I’m not even exactly fat though so I don’t know if I’m gonna be going for walks lol.
This guy is good !
Thanks dude
Based Theory of Value
So, your costs + 40%.
Relovutionary.
I’m a true pioneer in the industry. Glad you were here to see it
💪
Neat!
Watching from orange tx😂 2 years until I get my master license
You’ll be glad you did
Big ups! Cheers
So if you want to make 30% why do you divide by 0.7? Shouldn’t you times by 1.3?
@@henrymahoney7072 no, that would be a 30% mark up. If you do that your profit won’t represent 30% of the sale. You divide the cost by .7 so that way it represents 70% of the final sale price. Let’s say you are selling something that costs you $100. If you do a 30% mark up you don’t get 30% profit. Example, 100 x 1.3 = 130. $30 is not 30% of a $130 sale. that’s not a 30% profit. To get a 30% profit margin on 100 you need to divide by .7 so 100/.7= 142.85. If you do the math and see what 30% of the final sale number of $142.85 by multiplying 142.85 x .3 you will see that it is 42.85. Meaning the cost of the sale was 100 which represents 70% of the final sale price and the gross margin is 42.85 which equals 30% of the final sale price.
Henry you are correct if you want to make 30% of $100 you would sell at $130. What he is talking about though specifically is profit margin of 30%. One is just the % of the sale vs the cost, and the other is the % of the sale profit vs the revenue. 42/142 = 30% profit margin. He is making more than 30% of 100 its not magic, 30 is still 30% of 100 😊 its just accounting terms. The more complex notion in business is gross vs net profit, whereby in isolation a good or service can seem profitable but given the wider context of costs around it mean it may not be, this is gross vs net profit.
Good advise but HR staff can be considered dead-weight and anti-streamline lol
Guillermo is head of HR at my company lol. He don’t give af.
Thanks boss
why not calculate the 50000 + 40%?
or 42 or even 43%
@@hollow9126 the reason you don’t is that isn’t a good representation of the final sale. I add 50% gross on small stuff, 40% gross on medium stuff, and 30% gross on big stuff. So if 50,000 is what it cost me for a job I want to that 50,000 represent 70% of the final sale. To do that I divide by .7 which will give you a number where 50,000 is 70% of that number and the other 30% is your gross profit.
damn the answer was so obvious,I should be more careful with the toxic fumes I've been inhaling from welding. thanks
So of you look at PL and fixed costs are 30%. And you divide by .7 for 30% gross. And fixed costs are 30% congrats you are broke
bro love ur channel but u say you smart, u making all the good decisions in your business but your killing yourself with that smoking , ur gona be rich and then u realize u smoked to much and realize how dumb it was , u smarter than this come on , i know how hard the grind is , to grind for 10 years something, like bro we gota be healthy when we get there if no tthen its all a waste, health is wealth
3:21
Scammer
This is gold… 🫡