$1000 a day x 5 day week x 40 weeks a year ( rest and recreation /sick days) = $200,000/year.There is more to pricing a job then materials and labor.
You have to allow for all the extras with running a business and replacing items along the way,Insurance, licenses, paper work time, training, replacement of tools and cars, work phones, super, income protection, lost time by employees.
The reason why a lot of trades people struggle financially and business go bust is because these things aren't factored into the job.
Electricians and plumbers are licensed, we don't just get our trades after 4 years we have test and competencies to pass. By doing this work yourself its a danger to not just you.
Its the people who have to work after you that are in trouble. its not just joining wires or connecting pipes there is theory behind why you do it and how.
The bare minimum a sparky in Melbourne should be charging is 76ph
You need to make at least $1000 per day. After our work is done it doesn't stop there. We have paper work and quoting and getting materials which take hours and aren't done for free. we might only work 8 hours on the tools but there is another 5 hours after that that we cant charge for.
Dave
I think that is a tad too much but what do those who run a business say, unlike myself.
Cant type any more as my eyes have bulged out of my head