How to Calculate your Hourly Rate

How to calculate your hourly welds rate?! Here's the Formula! How much money should I charge for my welds? Here's your answer. So many people commented in the last video, "How much should I charge for my welds", which was more about why you shouldn't cut corners to charge more. In fact, people started reaching out asking how they should bid their work. It occurred to us that there's really no step-by-step guide on how to figure out how much to charge for your welding services...Until now. One of the people that reached out gave us an example of a real world job he was trying to bid, so we created this step by step guide for him and all of you to use. Whether you want this to be a full time welding and fabrication job, or it's just a side hustle, hopefully this will help.

The goal of this video is to give you a formula for you to use to figure out exactly how much you should charge for your welds in your area. We don't use generic rules like "x amount of dollars per inch of weld" or "charge this much per tack". We want to you be able to run your welding service like a legitimate business and to do that, there's a little more involved. We will help you figure out your business expenses, personal expenses, charge out rate, what your salary should be and how that translates to how much you need to charge.

Please not that the numbers used in this video are samples only and you need to input your actual numbers into your formula to make this work for your situation.

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