People sometimes dread calling contractors to help them with home projects. They are unsure of how much these contractors will charge them and what their total bill will end being once the work is finished. When you want to grow your own contracting business and garner favorable customer reviews, you may be convinced to rethink the way that you price common residential and commercial projects. By using simpler financial resources like a flat rate electrical price book and more transparent charging policies, you can put your customers’ minds at ease and make it more likely that they will hire you for their remodeling or building needs.
One of the advantages that comes with using flat rate pricing methods involves giving the customers a choice about whether or not to hire you. Flat rates essentially put the ball in the customers’ court and let them know that this is the price they will pay. There is no room for haggling or negotiating. The rate stands on its own, regardless of whether the customer believes he or she can haggle it higher or lower.
It also gives you the leeway to serve customers who genuinely want to do business with you. Some contractors who use variable pricing find that they must make concessions to keep customers coming back. They may have to lower prices or even end up doing work free because their variable pricing methods allow customers to take advantage of them. With flat rates, you can stand firm on your pricing and decide whether to help clients who make want to haggle down the price. If you stand by your rates, you can avoid complicated customers who want to take advantage of you and your employees.
When customers know that they will pay a certain price for a service, they get the assurance that the rate will not change unexpectedly. This peace of mind will encourage them to keep calling you for the work they need done rather than your competitors. They can set aside the money and know that you will not charge more for the work you and your employees did on the house or office. Flat rates give customers a sense of control over their contracted projects. These rates also allow you the control you need to make a profit and grow your brand and your electrical company.