I've dealt with this scenario in a few of the businesses in which I've engaged in my life. When I was a lot younger, I used to charge about what I thought I would be willing to pay. I discovered that this only worked if everything went perfectly and I kicked my @--. When normal life happened, I frequently made less than minimum wage, after expenses.
A lot of people don't really know what their costs are, and also undervalue their time. Hopefully they stick around long enough to learn what it really takes to make a profit. I don't mind the competition because their customers usually are the ones who are looking for lowest price.Folks who are looking for absolutely the lowest price are usually no fun to work for.
That being said, I like to get at least $50 per hour on any work involving machinery. Overhead is just too steep to go with less.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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