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  • How do you mark up premium wrap materials?

     Iain Pearson updated 1 year, 6 months ago 6 Members · 15 Posts
  • Hugh Potter

    Member
    February 5, 2018 at 9:42 pm

    So it would seem that I am on the higher end when it comes to my digital wrap prices (compared to some of you here).

    wWe all know regular polymeric /mono films are marked up very nicely, digi films maybe as much as 500-600%, but wrap fils are different – aren’t they?

    Regular wrap films.. I usually take your average film such as hexis skintac and double it, sometimes a little more making around £50plm. However, I’m now pricing a job using hexis superchrome which is around £66 +vat per linear mtr at 1370. I’ve only added 50% but with the vat included (79.20plm +50%) this comes out at around £118 pm. even if I leave off the vat and only add the amount I paid at the end, then divide by the 20m i need it still comes in around £112 plm. I’m tempted to buy an additional 5m for emergencies / cock-ups too – do you do that with such expensive film?

    Does that seem about right for a premium film? Obviously that’s excluding any installation.

    thanks in advance,
    Hugh

  • Robert Lambie

    Member
    February 6, 2018 at 2:47 am

    Double your media price right off the bat.
    Add more, "always" to compensate for errors.
    Work out your hourly rate for installation and add that to the pot also.

    However, you must be realistic on the installation time you charge for.
    If you are up against time served good wrappers they may do a car in 8 hours, while you may take 12 hours.
    There for even if you are charging your install rate bang on the nose, your going to be much more expensive.

    If you are using a proper chrome cast, you want to charge a premium. it is a slower install process with higher chances of fails.

  • Hugh Potter

    Member
    February 6, 2018 at 10:00 am

    Thanks Rob, I usually double all wrap films (or more) to cover any issues etc. I estimate a time I think it should take but will usually put a day rate for two people on it, that way if it takes longer it’s down to me!

  • Martin Pearson

    Member
    February 6, 2018 at 2:38 pm

    This is interesting 😆 😆
    Probably one of the reasons why I have always been to cheap & never grown into a successful business, lots of other reasons but I have never added extra for potential errors when pricing a job, my way of thinking has always been that the errors were my fault so that was my cost & part of my learning experience 😆 😆
    As for fitting I am lucky enough to know how quickly I could do a job when I was healthy so base my fitting costs on that rather than the time it takes me now 😆 😆

    Sorry Hugh, can’t help with your pricing but then again you probably don’t want my help with it anyway 😆 😆 😆

  • David Hammond

    Member
    February 6, 2018 at 7:16 pm

    I struggle with the same.

    Standard cut vinyl, there’s a healthy margin (unless you charge sq/m not L/m like we did :bangshead: ), but that involves cutting, weeding, taping. We only do little bits of partial wrapping, where it’s usually a bit of wrapcut & vinyl.

    I’m a little geeky and like to work out averages for most things, 4hrs is about average for us to do an average van, including washing it. Some we can knock out in under an hour, others a full day.

    We order a little extra usually. On expensive film you could charge it at cost. That way you’re not loosing out whilst covering yourself, and you can sell it again in the future, or even skip it when it’s been there for 5 years and never been used!

  • Hugh Potter

    Member
    February 7, 2018 at 9:11 am

    I don’t think I’d do vinyls at cost and just charge labour, too risky on such an expensive material, wreck just one mtr and thats 1.5hrs or labour gone!
    We work at £40p/h but when customers bring their own film in (happened on a few occasions for rroof wraps etc. we work at £60p/h and won’t imply any warranty if we’re not certain it’s a genuine 3m, orafol, hexis etc. film.

    I think doubling it is the usual way to go on such expensive films, we have to have a mark-up on all materials anyway, double is usually my minimum unless it’s a big job or a bought in sign where I may just add 40-50-% plus fitting, depending on how competetive the price turns out.

    Too many out there are charging too little in my view, devaluing the market, especially on big signs and wraps. I’d rather do a couple of smaller vans in a day at £400 each than a big wrap, to be regularly winning most wrap quotes I would make less for a whole days work than on smaller work. Just can’t seem to get the customers to spend on them… they all want them but think I can do a high top lwb van for £800, ven when I say it’ll be £1500 upwards for such a large van they still want the quote – waste of time in 99% of enquiries!

    This particular query was relating to a transit connect they want in chrome gold!! I’ve tried to advise against chrome gold, they’re an upmarket brand and I think the satin chrome would look nicer if they’re going to spend that kind of money.. I’m about to phone them now to ask what they’re thinking of doing and if they would like to reign in the idea’s a bit, maybe a satin navy blue with the chrome gold for their logo’s but I’m probably not making good use of my time following it up!

  • Hugh Potter

    Member
    February 7, 2018 at 9:45 am
    quote Martin Pearson:

    This is interesting 😆 😆
    Probably one of the reasons why I have always been to cheap & never grown into a successful business, lots of other reasons but I have never added extra for potential errors when pricing a job, my way of thinking has always been that the errors were my fault so that was my cost & part of my learning experience 😆 😆
    As for fitting I am lucky enough to know how quickly I could do a job when I was healthy so base my fitting costs on that rather than the time it takes me now 😆 😆

    Sorry Hugh, can’t help with your pricing but then again you probably don’t want my help with it anyway 😆 😆 😆

    Thanks for the reply Martin,
    on regular vinyls I do mark-up quite healthily but I never charge for more than the job requires, I do however (often) order in an extra few mtrs in case of a cutter error etc.

    with wrap films the mark up is much less at 100%, whether that’s a £20 film or a £66 film! The trouble comes with this high end stuff in that you can usually only buy in 5m increments and you can guarantee you’ll need 16m, 21m, etc, ad have to order additional meterage, at £66+vat p/m this can add a few hundred to the bill and has to be charged for.

    re the fitting time, I know from talking to my peers how long something ‘should’ take, so I base my piving more towards that than what it will probably take. I rarely know how long a job really takes as I’m always having to down tools to answer the phone, deal with walk-ins etc!!

  • David Hammond

    Member
    February 7, 2018 at 9:56 am

    I was referring to to the extra few meters for any unexpected cock ups. I certainly won’t be doing to the job with material at cost and just charging labour.

    We’re about the same on the hourly rate, and find the same as you, we can knock out a van and make more on that than we will wrapping a vehicle.

  • Hugh Potter

    Member
    February 7, 2018 at 10:12 am
    quote David Hammond:

    I was referring to to the extra few meters for any unexpected (oh i swore !) ups. I certainly won’t be doing to the job with material at cost and just charging labour.

    We’re about the same on the hourly rate, and find the same as you, we can knock out a van and make more on that than we will wrapping a vehicle.

    Ah, I see what you mean now, just mark up the cost of the materials they use, and the remainder charge at cost.

  • David Hammond

    Member
    February 7, 2018 at 10:37 am

    Yep.

    It’s what we do. We charge ‘waste’ at cost, but of course resell the off cuts to another customer.

  • David Hammond

    Member
    August 22, 2019 at 5:49 pm

    Had a few of them jobs, and it appears we’re unwittingly undercharging.

    Where we should be charging £300 for a basic 2 colour cut vinyl job, we’re not, and what’s more alarming is we’re not charging much more when it’s more involved and requires wrap films… I know of one job where we charged £420 to wrap the rear doors and across the roof of Ford Ranger, using 1080.

    I’ve sussed out our hourly rates, markup on standard films, but when it comes to wrap films, I struggle with what to charge per meter?

    Double it as a minimum but still doesn’t add up in my mind?

  • Hugh Potter

    Member
    August 22, 2019 at 9:33 pm
    quote David Hammond:

    Had a few of them jobs, and it appears we’re unwittingly undercharging.

    Where we should be charging £300 for a basic 2 colour cut vinyl job, we’re not, and what’s more alarming is we’re not charging much more when it’s more involved and requires wrap films… I know of one job where we charged £420 to wrap the rear doors and across the roof of Ford Ranger, using 1080.

    I’ve sussed out our hourly rates, markup on standard films, but when it comes to wrap films, I struggle with what to charge per meter?

    Double it as a minimum but still doesn’t add up in my mind?

    I decided a while back that we double it and charge our hourly rate, with extra for an additional wrap guy if subbed, plus profit on him!

    Makes us fairly expensive for wrap work but, I’d rather get a fair return for what can often be several days work, than massively underprice and then have to do a series of very late nights to catch up. I simply won’t move on my price, I don’t care if joe bloggs down the road will do it £400 less.. within my price is a verbal guarantee that if anything fails then it gets fixed – subject to my idiot tax, some I win, others cost me a bit in re-doing a panel but, the profits allow a bit of space for that.

  • David Hammond

    Member
    August 23, 2019 at 6:41 am

    Same here, we guarantee all the stuff we fit.

    For wraps, we’re using SLX, 1080, Avery Supreme, or Oracal 970, so not the bargain bucket type.

    I’m hoping the new marketing guy can get us a few more leads in, at times it feels like we loose more than we win, but having looked at our costs again :yikes: , we need to take a hard stance.

  • Phill Fenton

    Member
    August 23, 2019 at 8:21 am

    I think you have to mark up your materials cost by at least 100% (i.e double) because the moment you make a mistake and have to re-do anything you are immediately out of pocket and effectively working a few hours for nothing to pay to correct your mistake. Personally I think 150% is more than reasonable – then add to that your hourly rate.

  • Iain Pearson

    Member
    August 23, 2019 at 9:11 am

    This is a very good thread, and also the exact reason we moved away from vehicle installations completely. Far too many variables that potential cost you money in the long run.
    There will always be “joe bloggs down the road that will do a full wrap for £400 all in” – my answer to that is don’t trap your fingers in the door on your way out.
    There are no set costs for any materials or mark up, hence why competition is fierce, but long ago we took the hardline of producing a pricing guide for vehicles – Customer calls or comes in, asks how much to do yadda yadda yadda, but before we really engage them, we give them a copy of the list and let them make the call.
    Some clients are prepared to pay premium, some not, that’s business, fact is, how much do you value your work ?
    I had a recent conversation with a fellow member about costing etc and I was shocked at what some others charged and bemused at others. Charge what you believe is fair Hugh, don’t cut yourself to the bone, as Phill says, first mistake, then suddenly your in the red. Good luck buddy [emoji106]

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