How do I know if I made money on a job?
Take what the client paid you and subtract everything the job cost: materials, the crew and helpers you paid, permits, dumpster, rentals and subs. Then subtract your own hours at what your time is worth. What's left is what the job really made.
Many contractors skip that last step. If you charged $2,100 and spent $1,050, it feels like you made $1,050. But if you worked 24 hours on it, you earned about $44 an hour, before the truck, insurance and phone are paid.
Why your own hours count as a cost
If you paid a helper to do your part, you'd pay them by the hour. Your time is worth at least that. Counting your hours shows whether the job paid you a fair wage and left something for the business, or whether you worked for less than you'd pay someone else.
How much should a contractor keep?
After materials, labor and other job costs, a small contractor usually needs 20–30% of the price just to cover business costs like the truck, fuel, insurance, tools, phone and software. Profit comes on top of that. That's why a job can feel busy and still leave you with nothing.
The check above compares your job with what a typical small contractor needs. To know the right price before you send a quote, try KeptMore free.