RateMate allows you to select your hourly rate based on knowledge – of your overhead expenses, desired income, tax situation and personal needs. Once you are charging this way, you will have the confidence of knowing that you are charging the proper amount for your services, and that you are making a fair profit every time you set to work on a new project.
I think calculating the proper hourly rate is so important to small business that I hope this app will bring the concept to a wider audience.
Note: This article is written from the sign shop perspective, but is applicably to any small business where time and materials are the bottom line. The wrong hourly rate (or “shop rate”) can be like a hidden cancer for your business. How do I know? Because I almost killed my sign business this way in [...]
When you are inputting the information about the sign that you are estimating, it tells you the maximum number of hours you can spend on that job without dropping below your hourly rate. That has been a big boost for me. When the estimate has been accepted by the client, with one click, I convert the estimate into a job. Once converted, I can printout a job manifest and projected number of hours allotted to do the job. My crew, on their own, now compete to beat the allotted time. It's become sort of a game for them and more profit for the company!
-- Glenn Taylor, Taylor Graphics Inc., Wilson, North CarolinaConnect with us!