How Can I Make Money As An Electrician?

[@NBundyElectrical]

if you've enjoyed video and want more like this drop a like

[@kennethausten]

Fantastic. Brings me up to todate with reality as a retired sparks. Age 76. Glad I am out of it now. Had some good times. You Certainly have more overheads now then I had back in 1968. Land line phone was a luxury then. I had it installed just for the business at the time with my late twin brother back in Kent. Was Trained at E Saunders Margate originally. Late father also Ex Saunders and Saunders still in business, good luck with it all and may you progress. I moved to merthyr tydfil Wales some years ago where I feel more relaxed.

[@realbartie]

Really appreciate your honesty with these videos. You’re right of course. People don’t tend to talk about what they charge let alone what they make after all costs and videos like this help people - both in and out of the trade - realise that the price is just an honest days pay for an honest days work. Your prices are very reasonable especially given the quality of your work. Thanks Nick!

[@TheCod3r]

Congrats on 100k Nick, very well deserved! Keep it up buddy

[@TurboTimsWorld]

Nick I am going to put this comment here, I'm a mechanic and MOT tester and I get paid an hourly rate BUT the minimum wage keeps going up and mine does not I used to earn twice the floor sweepers rate now I look at my level of legal skill and go I don't need the hassle I may as well drop a grade and sweep the floors today ! great Vid Thanks !

[@Daniel.Dalziel]

Congrats on hitting the 100K Nick. I think you can double that annual costing tho tbh, definitely from my perspective anyway. Depreciation of assets E.g. van, tools which need to be renewed also being an electrician or similar trade there is always continued training courses whether it be updated with wiring regs, new skills or manufacturer training which costs a number of unpaid work days as well as the costs of the training. I personally look at £80-90 a day to just pay for all that every year but it all depends what you do and where is suppose. Great video, thanks for sharing 👍

[@Gjbsecurityandalarms]

I love how transparent you Are mate. I set up on my own in April and it’s tough as you say it’s not always guaranteed work, it nice to see how you work out your pricing and break it down my works security installations so abit different but I’m guessing the same hassles and rewards at the end of the day.

[@TheSparkysdog]

Thanks for your honesty Nick. As you said you trained and worked hard to get there.

[@neilmick6778]

Like loads of other professions

[@AdamTheAd-vanc3d]

The trouble is . Most Joe Clients don't care they want a good job for a low cost price ( not all , some.) They will never understand/ appreciate how we got where we are .

[@POLEinTheUK]

You share a ton of valuable information on your channel, for free!! I really appreciate it, as I am an aspiring electrician myself, looking to qualify and pass my AM2 next year. Personally, I think your rates are very reasonable, considering your high standard of work. Complete and full honesty and transparency are rare in the trade these days. It's no surprise that you have built a brand many people can trust.

[@sygad1]

Congrats on the 100k btw. Be interesting to see how the profit averages out over the year and it's apreciated showing the transparency, helps people understand what they are paying for.

[@JIBS.]

Absolutely brilliant Nick. Still the best honest electrician on KZbin.

[@g.williamswilliams8442]

Absolutely... More to it than Jo Bloggs realises. Great videos. Thank you

[@kennethausten]

That's very good as a friend was ripped off in Tunbridge Wells Kent. He paid £2000 just for a new consumer unit 20 years ago now. You should be paid well.. Lot of training nowadays and more responsibility. Many trainees have given up within 6 months as they had not realised how much technical knowledge you required. Many did not understand ohms law , the very basic of maths. Kids of ten can do that. It's an everyday calculation to me as i am also into electronics's. Thanks again

[@Ash-gw2bk]

Great breakdown and reality check for customers complaining about prices!

[@Harrycowlton]

Well done! So many people think a working year is 365 days not 260!!!!!

[@rmsalkin]

I have outmost respect to any domestic electrician. Dealing with ify customers, traveling just everything around requires loads of professionalism. Thumbs up for u m8

[@philtebble4390]

Very interesting mate im self employed hard to track what actually ends up in your back pocket .I use simply business for my public liability great price .Worth a look upon renewal 👌

[@HA05GER]

As a little saving if ford service your van you should get ford assist included im not sure if you get it with commercial but its a pretty good cover included.

[@traineespark]

my biggest fear of going self employed is been busy then having nothing for 3 days... would scare me.... appreciate the honesty (Irish Spark)

[@NigelTatton]

Have never broke everything down like that before - like it 👍

[@AndyK.1]

9:00 nice iPhone stand and induction charger. 😊

[@kerbsidemotors9249]

Sharpen your pencil, also Napit and costs nowhere near that. Phone £38 month All vehicles fully comp 1470 protected no claims Internet similar running zen and static ip. Domain £12 as own server Accounts £300 Bought van outright at 18,000 miles. Minimum £60 an hour or don't move van. Stay under vat unless lots of commercial. Call outs are £120/h commercial minimum

[@gregm2557]

Congrats on 100k! I hate when customers used to say “how much! You have only been here 30 minutes” I always said, It’s taken me 20 years to know how to do that job in 30 minutes. You owe me for the years not the minutes!

[@ChrisLee-yr7tz]

Get real. There's nothing a sparky does that takes 20 years to learn.

[@callumsimpson7483]

He said to do it in 30 mins. You clearly are one of them twat customer 😂😂😂

[@gregm2557]

@@ChrisLee-yr7tzI’m not a sparky 😂

[@stuartridgley515]

Hi Nick many thanks for sharing this video. I feel you could have added to these figures as what you have given is a little distorted. The days in the year are not 260 here is what 365 - 104 weekends is 261 days -bank holidays 8 days leaves 253 then minus 20 days holiday is 233 days. If you were employed you would need to add a cost of 28 days as an overhead to workings out. Furthermore there is the time spent in the office where you also loose 50% of your time quoting as you don’t get every quote you get. I still feel it is a great help to get people to understand.

[@LuxeGate]

Hi nick, could you do a run down of how much take home after a full house require please

[@rouman7]

As I use to work in London , ( central) west end , Camden all nw. And suburbs .. your prices are fair .. but we charge more in London ..what you have gone thru with costs are spot on , most people do not understand that … glad I have retired now. No more chasing money … or jobs .. but I enjoyed it

[@billyboysadventure1689]

enjoying the videos from the states! GA! my nightly wind down routine

[@davidclarke2513]

Having listened to your rundown of all the things you have to sort out and pay for I'm bloody glad that I was an Industrial JIB GOLD CARD APPROVED sparks for 50 years were I just worked on some of the biggest contracts in England where I was just a number who turned up carried out my work left alone to ply my trade,yes I did run jobs with many sparks under my control which gave me a buss but I couldn't but up with all the bullshit you have to put up with fair play to you mate I wish you well make a profit that's what you graft for you seem to be a very competent sparks I worked in the industry in the best times the 70s and 80s and early 90s,the only course I took after leaving college was the 15th edition yet because I was a competent person I was able to run jobs without taking that crazy foreman course,I did testing for major electrical companies without paying thousands for a testing course and exam so I feel I was lucky

[@richardredman3947]

Nick you forgot the cost of your unit pcm. The cost of replacing a van over years. Treat it like a van on a monthly payment. 25-30k van will need replacing maybe every 10 years?

[@richardredman3947]

Not to mention the cost of your communal waste bin 👀 not to mention

[@intelectnw]

Brilliant video Nick! Cracking job considering the tiny area you had to work with. It’s made me realise that we’re not charging anywhere near enough. 😮

[@TedBrotheridge]

True dat

[@TedBrotheridge]

But tbh the space is massive

[@TedBrotheridge]

But the charging comment is true amd lets have it right except for the cap Nik is a belter

[@Bubatronic303]

Thanks for doing this one Nick, definitely a bit of an eye-opener in terms of how to think about potential earnings

[@CharlesBradley-z1v]

Minus your wage, holiday, sick and pension contributions leaves the profit for the business. I think youve been very generous with how much youve taken home as "profit".

[@peakingmantis5331]

I've got a question man. My job is to service and install emergency light fittings. The company I work for asks me to replace the whole light fitting if there is a fault with the light (instead of just replacing the lamp or battery if the light isn't working). I had a job the other day where there was a fault with the light and when I tried to change the fitting I saw that it had 3 solid metal pipes running through it. I made a report stating that I wasn't able to change the light due to the solid metal pipes that were going through the fitting but my boss still seemed to be upset by the fact that I didn't change the fitting... How the heck am I supposed to change a light fitting that has solid pipes with fire rated cables going through it??

[@TBO2488]

I’m about to start a career change at the age of 37. I’m generally really excited at the prospect of potentially becoming an electrician. I’m giving myself a 4-5yr window, will still be in my current job while I’m learning and training. I know full full well it’s going to be difficult, stressful, tiring, but eventually I will get there with persistence. I will get there.

[@MikeSmith-qs2nr]

Donyou mind if i ask why did the ccu need to go in the meter box. Only as as i am a meter monkey id like to be like yourself oneday. Biggest issues we are finding is space for metering equipment in meter boxes. Thats 3 phase stuff to single rate. But sparks has filled it with his equipment. Solar or car charging stuff. Only as as curious. Maybe cost ..

[@bigwoodrz]

Great to see how organised you are. This then Carrie’s over to you work qualities. The old saying is “you get what you pay for”. Pay cheap than you get cheap. I’m sure we have all regretted a cheap purchase. Well don Nick.

[@mozzatheboz]

How do you do a certificate before doing the job? as you wouldn't know test results, points served etc...

[@rangersfcf1]

Congrats on the 100k! You, however, forgot to add on a few things. Van depreciation, tires etc... and personal pension as one day you will retire and need a pension. You also forgot about banking cost as business banking is not free either, plus the cost of your card reader, cheque deposits etc. Then you forgot about running the ltd, so you have companies house wanting their slice of money, plus HMRC... It's less profit than you have said.

[@GT4ANDY]

There are also a lot of taxes involved the business earns that £460 whatever it is, then their is cooperation tax on any profit after your wages and if you are taking all the money so the company shows no profit your personal tax bill must be astranomical? Or have i missed something?

[@mrp7555]

100k legend mate. You deserve to make a decent living as you say that’s the whole point of studying hard. Don’t see people moaning when supermarkets make 50% profit margins

[@Chris-xh7pp]

I would enjoy seeing the profitability of a 'typical' rewire. I'm about to start my electricians course/quals at the advanced age of 35.

[@thereal1006]

It will all depend on your experience you won't be as neat or good as someone who been doing it 10 years

[@peterwollaston9556]

From what i see on jobs it’s often the old boys that just chuck it in. A lot of the younger lads are significantly neater and more careful.

[@thereal1006]

🤣@@peterwollaston9556

[@Walktheline1991]

@@peterwollaston9556lol. That's extremely subjective.

[@paulwoodfield1651]

Brilliant video mucka, good on ya talking money and earnings. But I think your profit realistically was £350 - £375 taking out tools. calibration. Van loan / replacement ect ect... keep up the good work

[@stuartmckay3303]

Well done on the 100k. How do you cover the unit costs and tool replacement costs ?

[@johankorten2797]

Gratz Nick on reaching 100k! Nice video again.

[@ghspaelectricalservices9296]

Good break down, well said as well we have to put some away for slow times holidays ect

[@Dog-whisperer7494]

Congratulations on on hitting the 100k mark, very well deserved, and yes we spend four years at college training to be sparks the work hard once in the real world so why shouldn’t we earn a good decent salary. Great insight on how you keep yourself organised 👍

[@KevAsh]

Very interesting video. I feel you are potentially missing some additional costs. The van for one - even if its paid off, you still had to save for it etc so amortise the cost over the expected life of the van. A contribution to the tools too - they won't last forever, and Bosch may not always provide them for free or discounted. Then include the unit costs - rent, power, Internet, collecting your neighbours rubbish etc. I know you said previously that it's paid for by KZbin, but its still a cost you are on the hook for. I'd be surprised if you didn't need to earn at least £100 a day to cover your costs before you get out of bed. Great work on the vid though - interesting to see the profits involved. I'm always sceptical of tradies that are really cheap. I fear they are either doing a cheap job, or they are going to stitch me for some "extras" that I have no real way of avoiding.

[@reliabill87]

Brilliant video, you should do a video on yearly amount too, so people know if it is good to do so or not?

[@freelifeproductions]

congratz on the 100K bro.. great job..

[@itsalltheothers]

How come you chose wago's rather than through crimps just out of curiosity more than anything, time? Sorry only just saw this video lol a year old!

[@petertallowin6406]

Admire your honesty dude, always have. Is there a reason why you didn't consider moving the board out of the meter cab? (Not a criticism, genuine curiosity) :) I find that I have lost a couple of jobs lately because of insisting upon doing things 'by the book'. What I mean is, for a board change for example, I ask that the client have an EICR first and get an isolator fitted and because their provider wont get round to suite their deadline, they choose somebody who will just crack on. I'm not crying or starving due to losing those jobs and stand by my decisions, just curious to know how others approach these situations. It's not like I am scared of pulling fuses, just trying to follow guidance.

[@MikaMikaMika89]

Did you mean £1200 a year for van insurance not month? D:

[@supersparks9466]

I’ve said many times before , db changes should start at 1k and go up, just not worth doing at 750 or under

[@paulos9304]

So 500 a day isn't worth it.

[@supersparks9466]

@@paulos9304 Not for db changes , for example I’ve just fitted 6sqm of floor heating for £900 ,took under 4 hours and cost £120 in material. Give me those any day over a db change in an under stair cupboard.

[@mohamedsiadabdille7631]

That is awesome for Break down for profit thanks Nick

[@tomhuckstepp2322]

What about the costs of your unit mate?

[@AndyK.1]

I think KZbin pays for that.

[@steveday6104]

Good insight into how a sole trader works it out. Congrats on the 100k as well.

[@seanolaoghaire1002]

Well done Nick! 100k BOY!!!!!!!

[@ashleybignell2366]

That £461 has to pay for your out of hours work, your holiday off & sick days. & your future pension when you retire. Suddenly it doesn’t sound as much as it should. Great vid as usual Nick.

[@andyfinch334]

Nick. Are you from Cannock? Is that a map of Cannock chase on your wall ?

[@ianlove3]

Thank you for the breakdown.

[@brianfreeman594]

🎉100k that is for being great at your job but also for explaining and showing how it is all done, and and decent cost and a great job well done. 👍👏

[@liam2161]

I normally do 260 * 0.70 to give me a 30% drop for taking time off else you're assuming you are working every day possible. Bank holidays, Christmas etc.

[@arniewheeler4673]

great vid, and great stats.... keep it up chap...

[@123HardGamers]

Nick what a video! not many trades tell off what they earn, i think if you can make a video regarding prices for certain jobs that would help a lot. Thanks

[@boradley601]

Great content. Plus you have to take into account training days that you can't earn money. Plus you may not always get paid.

[@kalindimov9724]

Great stuff! Keep up the good work!

[@mathewashley3954]

Great video mate! I’m in my final year of my apprenticeship now, so it’s good to see videos like these. On another note, I noticed you used a Verso board on this job. What’s your opinion on them? Done a couple myself, and I really like them, but I know a lot of people who haven’t even heard of them yet!

[@KTWElectrical]

Did you not take into account Adams wage for that day? Also do you pay into a pension?

[@darrenthompson6046]

Hi Nick it's great that you've now reached the 100k subscribers I am just wondering when are you doing the giveaway as I don't want to miss it lol and it is so good about your 100k not only that this time next year you will be celebrating 300k

[@gregcressey1791]

Love the video appreciation for engineering trades is poor pal so hopefully people will realise how much work goes into it

[@dannyboisparky]

100k and still a decent channel to watch

[@brettuk]

Cos you are a LTD company you also need to pay Corporation Tax. I assume your accountant prices include any filing costs with the HMRC. Do you also pay yourself a salary - even basic to ensure you pay national insurance to contribute to your state pension. The salary is subject to PAYE (nics, income tax, and employer contributions+ any allowances e.g. first 12.5k tax free),. Any extra income paid by dividends is subject to dividend tax and you will also need to pay tax on it when you do an annual return. I assume you didn't mention the unit costs so the price is more representative for the general spark.

[@stuartmaguire]

Are you vat registered? Take it you claim vat back on materials, tools and everything else you can claim on? So that's more in your pocket. Great video and very interesting.

[@JacobSmith-fv1cw]

Yes and no, cause when your VAT registered you have to charge VAT. Only way to get money in your pocket from VAT is if you make a loss, you always end up paying the VAT man.

[@st8ofmind887]

Thanks Nick, really useful vid mate.

[@QUIX-KIWI]

Ah, but on top of all the initial night tech and "on the job" trade training you do (in that first four years) - is all the other stuff, such as keeping up with your two yearly CPR & 1st aid training courses that you MUST PASS to keep your practicing licenses up to date, and with frequent wiring rules changes etc., along with other unseen incidentals that "all" eat away at gross profit, leaving less and less, to pay both you, your business accountant AND all of your other govt regulatory fees, and permit application fees etc, plus you may have to also pay subcontractors - who have their own overheads, so "nett profit" remains incredibly tight for most tradespeople. Then there's that speeding fine you got rushing between jobs?

[@BATMAN-fe5nd]

Great video mate - very genuine

[@freeitstafford]

Did you miss out the rent on your unit? Our wardrobe-sized lockup is our biggest expense and even with charity discounts it costs us 2K a year

[@ridwanmohammed1264]

Congratulations Nick 🎉

[@leescott5326]

Interesting video! I assume you're still a sole trader and not a Ltd? Be interesting to hear how often you pull that day rate in, cause at that rate, for only 50% of the year, you'd be paying tax at the higher rate pretty much (assuming sole trader), so your tax bill on anything beyond that would double. Unless you're Ltd of course, in which case company profit and what you take as a wage are different entirely. I'm self-employed and use a Ltd, I find it gives much more control over your tax bill in terms of what you pull out. I can manage on a

[@AndrewLeeming]

I was wondering the same. I'm in another sector and pull in similar but via LTD. He's VAT registered so over the 80 odd thousand mark. At a guess, I'd say he'd be quids up if LTD over sole trader

[@Danny-204]

That’s a very good price, for a DB change,

[@edwardwillshee3377]

🙌🏻 needed!

[@andyjackson2269]

Great Video Nick👍

[@holmesyful]

Thanks for the insight.

[@scott4shell]

Been self employed for 16 years mate and I just had enough I work for a company now and the stress taken off is crazy I feel much better, I will always miss being self employed though it was great

[@thegingerhustle3173]

Really needed to add few bit but very interesting 😊

[@Chris-xh7pp]

Once you are up and running with NAPIT, how much does it cost to renew? Is it every 12 months?

[@Chris-xh7pp]

I should have watched the rest of the video before typing....

[@Mally..]

Didnt include the time it took you to travel there and quote

[@nsoper19]

very good earnings. well done pal

[@steve11211]

Did I hear £1200 a month for van insurance? @9:47 Thats £14.4k a year, even at £1200 a year thats a lot..

[@AndyK.1]

Yeah. Maybe 1200 year

[@paulos9304]

That a difference in the profit at the end of the day, around £37 to the 500 odd. Think also some of his other costs are a bit ott..Still think It's good money. Period. I do like the lad though.

[@tombruton]

How is your phone watch and iPad 3k a year? Top end contract 70 quid a month 400 on off for the watch 700 one off for an iPad. If you replaced the iPad and watch every year you don’t get to 3k

[@JacobSmith-fv1cw]

You get the iPad with a SIM card on contract that’s another £80 or so, same with his watch I assume on contract with its own SIM card. Thats what most businesses do, with iPad’s

[@gavjlewis]

If you replace it every year there is still plenty of value in the phone,iPad and watch that are business assets that could/should be sold reducing that cost. So really only this one is a bit over the top and the broadband at £744. I have FTTP and it is only £300 a year.

[@JacobSmith-fv1cw]

@@gavjlewis yeah but most people end there contract normal is 24 months and shove the phone or iPad in a cupboard and forget about it? Then just order a new one on contract 🤷‍♂️ I also have FTTP and it’s £720 a year for the full speed one

[@gavjlewis]

@@JacobSmith-fv1cw Does he need to spend £250 a month on contracts, probably not but that's fine. But he chooses to leave thousands of pounds of business assets in a drawer until they are worthless. He could quite easily take them to CEX in Stafford and deposit the money back into his business account to reduce the "needed" £8k a year. If he had a team of 20 sparky's I'm sure he would gather up everybody's old equipment when handing out the new stuff. I'm not sure he would say don't worry just leave it in a kitchen drawer. At the end of the day Nick is having to 2 or 3 days a year more than he needs to to cover these wasted costs. That's 2 or 3 days he could be spending with his kids in the holidays. As for broadband as Nick is a KZbinrs then maybe 900mb dedicated broadband is required but for most sparky's do you need more than 150mb. How fast can you possibly invoice! 😄

[@JacobSmith-fv1cw]

@@gavjlewis I do the same with my business, cause taking the time out my day to go to CEX I can earn what I would get paid for those second hand electronics. Plus they make good backup devices if your new one ever breaks or gets smashed up. I have the 900mbps because I can, cause to my company £20 a month difference on broadband is not a lot. Convenient when I have large files to download.

[@GAZZAMASTA]

Congrats fella

[@keithg1xfl]

I'd be interesting this type of breakdown on a Full Rewire inc Dist Board, socket's, Light Switches etc, I think this was very interesting Video

[@Walktheline1991]

Subjective as some people are much quicker than others with these

[@cuezed]

Congratulations on the 100k subs 🎉

[@1drunkkenmonkey1]

You might have missed off all the training you need and qualifications to get you to that level of basic earnings. Great video all together. Clear and to the point. If I could start my career again. Would I be in a trade?

[@geoffclark437]

Great video, thank you.

[@Riley_Jarvis_the_sparky]

Epic video buddy smashing out the videos as per usual 👌

[@deangrainger1215]

Love the video mate. I’m currently a teacher and wanting to change career. I’m just wondering what your average yearly salary is/has been for the last few years? Totally understand if you’d rather not share though 😊

[@andrewpowellnz]

Nick I'd love to see Jordans breakdown

[@Scotts_Status]

Congratulations from Florida

[@keepsmiling9882]

Fentanyl

[@petermckeown1033]

Holy s**t. My public liability with employers liability is £4.5k per year! £5m coverage

[@kevinhenryviii]

Well deserved Nick. 👍🏻