Find out what you need to bill each week before the business makes a dollar - and what that means for the rate you charge.
Vehicle, tools, insurance, phone, admin - everything you pay whether you're on a job or not.
You must bill $3,216 a week before you make a dollar.
On 30 billable hours that's a floor of $107/hr.
Your breakeven is the minimum you need to invoice each week to cover the cost of running the business and paying yourself - before any profit. If you bill less than that in a given week, the business goes backwards. If you consistently bill above it, the difference is what you actually make.
Dividing that weekly floor by your billable hours gives you the minimum hourly rate you need to charge just to stay even. Anything below that rate and the business is losing money - even if it looks like it's busy.
figrd tracks your running costs and shows you whether each job is contributing above your floor, so you always know where the business stands.