COG, Labor %, instalation charge?

[jmitchell954]

Afternoon everyone,
I have a few questions I would like to ask everyone.
#1. what percent is your average (monthly) cost of goods?
#2. what percent is your average (monthly) labor to sales?
#3. what is your average install rate?

I finally have a years worth of data and I would like to see where my department stands within the industry. I am very goal oriented and would like to set a few goals going into the next fiscal year.

 

[ams]

Those questions cannot be answered as every month is different, plus my accountant handles those figures, I don't get involved.
Also if you are trying to match or complete with us, that is a bad idea. You need to base it on your area alone. New York City and Lizard Lick NC are going to be on the very opposite sides of the world with pricing.

 

[Billct2]

Yea, not exactly up on all that stuff, though I know I should be. And it would vary widely depending on the size pf the shop and location.
Signs Of The Times does an industry wide survey every year that has those kinds of numbers broken down by size of shop.

 

[Gino]

If you only have a year's worth of information, you really have no history, so most of this is for naught.

The size of your shop, number of employees, the kinda work you produce, how much is farmed out vs. how much in-house, overhead, insurances and all this other stuff means as much as supplies, labor and averages.

I do remember, my first year in business, I had about $1,100.00 worth of supplies and my time only which was maybe 1,800 hours and I took in a little over $24,000, plus my day job at a sign shop, which added about another $22,000 for a total of over $46,000. Not bad for 1982. I really started in 1972, but that was working for someone else and a few other shops. Didn't go solo, until 1982.

You want a goal ?? Double everything....better yet, triple it.​

 

[gnemmas]

If you only have a year's worth of information, you really have no history, so most of this is for naught.

The size of your shop, number of employees, the kinda work you produce, how much is farmed out vs. how much in-house, overhead, insurances and all this other stuff means as much as supplies, labor and averages.

I do remember, my first year in business, I had about $1,100.00 worth of supplies and my time only which was maybe 1,800 hours and I took in a little over $24,000, plus my day job at a sign shop, which added about another $22,000 for a total of over $46,000. Not bad for 1982. I really started in 1972, but that was working for someone else and a few other shops. Didn't go solo, until 1982.

You want a goal ?? Double everything....better yet, triple it.​

 

[gnemmas]

Year to date:

COG: 17.97%
Labor: 38.2%
Install: $85/hour

 

[Johnny Best]

Year to date:

COG: 17.97%
Labor: 38.2%
Install: $85/hour

So your goal for next year is to beat those first two numbers by 15% and install to $125/hour.

 

[MikePro]

been in the business for 65years, we're up to $675/hr
tabs need be kept on total sales vs. total costs, and make sure you're setting aside $ for taxes(!!!), and adjust your rates accordingly.