This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
The co-founder of ServiceSeeking.com.au has developed a list of five factors to help tradies crack a six-figure income.
“When it comes to making more than $200,000 a year,” says Jeremy Levitt, “the secret is to chase larger jobs with an average size of more than $2000 and charge more than $100 per hour.”
Sound tricky? “Tradies need to work out ways to upsell their customers into larger deals,” he says.
Here are Levitt’s five factors:
- Chase large jobs: 18% of businesses that charge $2000 per job can earn more than $200,000 per year.
- $100/hour: tradies are 72% more likely to earn $200,000 a year if their hourly rate is at least $100.
- Experience counts: you are 11 times more likely to earn $200,000 a year if you have more than 10 years of experience compared to someone just starting out.
- Team up: the highest earning tradies have a business partner, which gives them the support they need to ride through the hard times.
- Positive outlook: businesses who expect ‘massive growth’ in their business are twice as likely to earn more than $200,000 per year.
Levitt’s data surveyed more than 2050 tradies since the beginning of the year
“Builders and plumbers are statistically more likely to earn more than $200,000 a year.”
“Our data shows that everyone is capable of making more than $200,000 a year, but many haven’t learnt the tricks,” he says.
ServiceSeeking.com.au is a jobs listing marketplace which helps tradies find jobs in their areas.
Photo by Melissa Walker Horn on Unsplash