What is the formula to get the hourly rate?

[spinz]

Fellow geeks,

I always heard people talking about "hourly rate" and every detailer should charge for their services based on an hourly rate.

I would like to get the hourly rate of my own too.

But I can't seem to find the formula/method to calculate the hourly rate.

Would you mind to share the formula to get the hourly rate?

Thank you. :)

[rms64]

I'm not sure if this is what you're looking for, but your effective hourly rate is amount paid / hours spent.

If you're trying to determine what your rate should be, that's a whole different story and depends on your competition (to some extent), what you're offering, what customers are willing to pay, and how much you think your services warrant.

Good luck! :xyxthumbs:

[spinz]

I'm not sure if this is what you're looking for, but your effective hourly rate is amount paid / hours spent.

If you're trying to determine what your rate should be, that's a whole different story and depends on your competition (to some extent), what you're offering, what customers are willing to pay, and how much you think your services warrant.

Good luck! :xyxthumbs:

rms64, Yes I'm trying to determine what my hourly rate should be.
Any examples? :)

[Stephan@FamouslyHot]

It's difficult to say, especially since you're in another country?

Do you know of any other detailers in your area? as rms64 stated, try looking on their websites and seeing what they charge for their services, and what quality services they provide.

[dcjredline]

You figure out how much you want to work for per hour, if you are detailing instead of doing something else what could you be making elsewhere... add in the cost of materials, cost of utilities, and rent to it.

I like to make $20 cleaning and $40 doing paint corrections. Materials are negligible for me cause I dont do a ton of cars a year. Same with utilities I do it out of my home garage and havent bothered to quantify the usage.

When I used to work at an install shop on the side I figured it this way, if I worked at my regular job I would be making $27 an hour - taxes and SS etc. So I need to make $15 an hour under the table there to make it worth my time TO ME.

[FUNX650]

Here's one formula to determine an hourly wage:

{How much would you like to gross each year:
$15K; $25K; $40K; $75K; etc.?}

2080 hours/year...(52 weeks/year) X (40 hours/week)
_____________________________________________

Example I.

$40,000/2080 = ~$19.25 per/hour
________________________________________________

Example II.

$60,000/2080 = ~$28.85 per/hour
________________________________________________


Bob

[Stephan@FamouslyHot]

^ great info! Thank you!