Proven Formula for Pricing Mar 10 | EGIA.org
EGIA

The Proven Formula for Properly Pricing Your Service Labor Rate

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Course Objective:

One of the biggest mistakes contractors make is not pricing their service labor rate correctly. If you are not priced correctly, bad things are going to happen. What you might not know is that there is a proven formula for properly setting your service labor rate to ensure profitability and long term sustainability.

The formula involves 5 main components:

  • Base wage of your technicians
  • Efficiency (hours you pay your tech vs how many of those hours are billed to the customer)
  • Benefit costs (Health care, etc.)
  • The Key Performance Indicator for the cost of wage vs. street labor rate (we’ll tell you exactly what this should be)
  • Discounts associated with service agreements

Join us as we walk step-by-step through the entire process for accurately setting your service labor rate, factoring in all of the necessary components so that your company has the best opportunity for long term success and profitability.

Questions? Contact David Delgado

(619)203-5692 | ddelgado@egia.org

March 10th

1:00PM – 2:15PM Eastern

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Presenter

Gary Elekes

Contractor University Faculty Member and CEO of iMarket Solutions

Gary Elekes is a serial entrepreneur with a passion for helping others become more successful by sharing what he has learned over the past 3 decades working closely with all facets of the contracting industry. During his career, Gary has held senior management positions at Lennox and Service Experts. In 2000, Gary moved into entrepreneurship and started his training and consulting business EPC. Today, EPC continues to support growth oriented businesses aspiring to reach 20% EBIT. He also designed the very first web based learning platform for the residential contracting industry, which acts as a support system for training and learning in HVAC and plumbing trades, and has over 5,000 subscribers.

In 2003, Gary began acquiring contracting firms with a focus on developing turn-around opportunities. He also opened and operated several start-up businesses. In 2010, he added web design/SEO and online marketing to his company portfolio starting iMarket Solutions as a co-founder. Gary graduated from Ohio State University with a BSBA and also holds a Master’s Degree in Business and Finance.