Ever notice how your clients are killing it? The landscapers, plumbers, tree guys, floor guys and so on? That's because they don't play stupid games like the sign industry does. What's with us? Another perfect illustration of the race to the bottom in this industry.
If you use 480 sq ft of a 600 sq ft wrap kit for a box truck, factor in the full kit. Why do we eat that 120 ft? The builders don't eat half that sheet of plywood!
What about the advertising and revenue generation value of our products?
Don't forget waste. You are paying for 54" of media 600' long. You're not using it all. This adds up.
Don't forget overhead! I bet you cant run a sign shop for less than $250/day. Where does that figure in?
Employer contribution to Payroll taxes?
The value of your time as an owner?
The skills you and your team have that do an 8 hour wrap install job in 5. You bill for 8, not 5. Your install speed skills have VALUE.
With 24 years in this business, I guarantee almost every one of us isn't making nearly enough at this today. Raising volume isn't the answer. That's just working more to make more. We could all do that at a JOB and work OT and accomplish the same.
Understanding costs, having strong margins, and setting price accordingly is the answer.
Stop asking "Need a price" questions. Get out your numbers, your calculator or your spreadsheet. Do the work, add it up, and add a healthy margin that gives you a comfortable but not lavish lifestyle. That's your price. Go out and win the job at your price that works for you, your family, and your company. If not, leave the crumbs for someone else and move on to the next one.
We don't need to collude, but many of us need to be way more realistic. We, as in industry can take steps to improve margins and more importantly work/life balance. It begins with discussions like these.