What projects are your most profitable?Posted by Deleted User on June 5, 2002 at 9:30 pm
Hello there,All I was wondering what projects are your most profitable, I make a pretty good profit off magnetic signs,cost to make is around $8,I sell a pair for $70 and it only takes an hour or so,any other really profitable sign projects?
MemberJune 5, 2002 at 9:42 pm
You mean you make a profit?! 😮
MemberJune 5, 2002 at 11:07 pm
Don’t want to “knit pick”, but you state that it only cost you 8, but then state that it takes you about an hour or so to make. If that’s the case, you either have an incredibly low hourly rate, or you’re not properly covering ALL expenses and therefore fooling yourself about profability. 🙁
One of the best ways for customers to value your time (and there by paying you for it) is by YOU valuing it FIRST. 🙂 Don’t want to appear mean spirited or confrontational about it, just think it may lead to problems down the road if not addressed early on.
If “I” were to adopt those numbers in my situation, it will probably cover expenses and generate a small profit, but nothing great. I realize everybody’s situation is different, but accounting for all expenses may reveal some “truths” that you may not be prepared for.
To answer your question, for me anyway; re-ordered custom multi color short run decals. Very profitable! As much as I like gilded dimensional work, it doesn’t achieve near the profitability as most of the decal work done. Please don’t misunderstand, it creates a heck of an invoice amount, but it is quickly balanced out by material and labour costs and doesn’t reach into what I call the “super margin” category.
MemberJune 5, 2002 at 11:16 pm
Bob would this not depend on your location? Obviously somebody making signs in New York is gonna have to charge more than somebody out in the sticks? I am sure $62 an hour is not bad in many areas. We charge around £50 per hour for software training. Probably not much more than $62. Most people think we are expensive though.
Deleted UserDeleted UserJune 6, 2002 at 3:21 pm
Bob thanks for the input,no offence taken,still learning all the time,but when ya got a ol’lady and kids ya learn even a hotdog on their plates better than nothin,it ain’t steak but it somethin 😆 .Brian ya I make a profit but I re-invest it………………..into Diapers,milk,toys,candy…ect.. 😮
If this investment pay’s off my kid will be airbrushin at 6 and runnin the biz by age 7?………or 8 if he’s a slow learner, 😀 Thanks for the reply Gray,Any advice from a young sign vet like yourself is appreciated. 😉
MemberJune 6, 2002 at 11:17 pm
Bobs 100% right in what he says, your time is so important, does it take the same time to complete each set of magnetics or do some take longer to do tham others? If you spend more time on one set because of editing etc then you should charge more for that job. Do you work from home of a studio because all these things have to be taken into acount when working out what hourly rate to charge.
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