How to Price a job

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Also, when/if you sit down and tally all your tools, make sure to take their lifespan into account.

Say for example that you have a wet cutter which cost you £300 to buy. Let's say it can last you 3 years (you don't want to be overly optimistic; stay well within the limits of reasonability). That gives an annual cost of £100. That's a monthly cost of £8.3 if you work 12 months a year, and £9.1 if you work 11 months a year. If you make £2000 a month, the wet saw cost you less than half a percent of your monthly income!

Unless we're talking real pricey deluxe tools, like the Raimondi GS 86 wet cutter, which goes for almost £800, tools are really not that big an expense in the long run, and shouldn't be skimped on for economical reasons. Good tools tend to last longer, make working easier and more satisfying, and lets you do a better job, faster. Crap isn't cheaper, for exactly the opposite reasons.

Addition: In essence:

Though the initial cost of more expensive tools might be higher, the total cost might be about the same, or maybe even lower, than that of cheaper tools, due to longer lifespan and increased efficiency.
 
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