You will be logged off in  seconds due to inactivity and risk losing your quote. Click here to continue using this web page.

How Much to Charge If You’re an Electrician?

Rhino Trade Insurance 09 August 2021

One of the most challenging things about being a self-employed tradesman is working out how to charge your customers. Not only do you have to quote sufficiently to cover your time, transport, and any necessary equipment to carry out the work, but you also have to cover the costs of running your business. In addition, you have to pay for things like your tools, electrician's insurance, website and marketing, vehicle, and various other expenses; all of these must be factored into your quotes. So, how do you know what to charge as an electrician? We've put together some information so you can ensure you're paid fairly for your expertise.

 

How do electricians charge for their time?

According to a UK Trade's Salary Review, electricians consistently earn the most money out of all the trades active in the UK. These rates are perhaps due to the technical difficulty of their work and the fact that they require certifications and accreditations to carry out their business. Most electricians quote for jobs in one of three ways: 

  1. Per hour: This tends to be how electricians quote for domestic work. 
  2. Per day: For ongoing work, a day rate is easier to calculate and is often slightly reduced when compared to the hourly rate. 
  3. Fixed fee: Sometimes, when negotiating at the start of a contract, an electrician might decide to quote a fixed price for their services. 

How you quote is totally up to you, but you need to make sure you're getting paid fairly for your time and services.

 

How much should an electrician charge? 

According to Check-a-Trade, the average cost of an electrician is £45 per hour and £225 per day. You can quickly calculate this equates to an excellent salary, and the earning potential of skilled and highly sought-after electricians is extremely high. But remember, self-employed electricians have a number of costs to cover, which are factored into their quotations. 

 

What costs does an electrician have to cover? 

An electrician's take-home pay isn't likely to be the hourly or daily rate that they quote to their clients. In reality, self-employed electricians have a number of essential and operational costs to cover, which include: 

  • Electricians insurance – public and employer's liability, buildings and content insurance, motor insurance, etc. 
  • Rent and rates on office space or storage lockup where you'll keep your equipment.
  • Licenses, qualifications, and training. 
  • Equipment, vehicle insurance and tax, etc., and travel expenses. 
  • Website and marketing.

When quoting for your work, you must factor in a certain percentage of your fee that contributes to covering the various costs associated with running your self-employed business. If you don't, you will quickly eat away at any profits and struggle to make a living. 

 

The verdict. 

Although quotations can be difficult to get right, you need to make sure you don't undersell yourself. Start at the UK average of £45 per hour/£225 per day and go from there. To know what you're up against, you may want to look at competitors in your local area too. Once you gain further experience and build relationships with clients, you can always amend your prices as needed.

One other area we can help with is making sure your insurance costs are as low as possible. We are a specialist tradesman insurer and have the cheapest premiums we've found on the market. Speak to our team to find out more.

A Guide to Joiner Insurance
A Guide to Joiner Insurance

Rhino Trade Insurance 12 September 2022

For those who spend their days repairing wooden structures, erecting staircases, shaping timber into floorboards, window frames and fitted furniture, then having the correct Joiner Insurance is imperative! 

Read more

The difference between a carpenter and a joiner?
The difference between a carpenter and a joiner?

Rhino Trade Insurance 05 September 2022

For those who spend their days repairing wooden structures, erecting staircases, shaping timber into floorboards, window frames and fitted furniture, then having the correct Joiner Insurance is imperative!

Read more

Why Do Builders Need Liability Insurance?
Why Do Builders Need Liability Insurance?

Rhino Trade Insurance 02 September 2022

For any builders who work in the construction industry, on a daily basis, you will find yourself open to risks, hazards and dangers that could result in significant compensation claims. The very nature of the job you do means that you or anyone you come into contact with (be it members of the public or employees of suppliers) could be in danger of injury, damage or even death.

Read more

TALK TO AN EXPERT

Our team of experts are available to talk to Mon-Fri 08.30-17.30 and Sat 10.00-14.00

online chat

Our team are online during office hours. Send a message if you have a query.

call

Call our team of experts during the office hours noted above.

Form

No problem. Fill in our quick form and let us know when’s a good time for you.