78% is not a bad mark up at all. The last electrical service company I worked for had a 110% mark up. Way back in the day when I worked behind the counter selling motorcycle parts the mark up was at least 100%. When I do a side job for friends and family they have the option of buying the material themselves. I'll give them a list of what to get. If I have to get it there will be a mark up. Ask yourself this. Was the service prompt and courteous? Was the repair done in a professional and workman like manner? If the answer is yes you may want to keep his number for when you need him again.
78% is not a bad mark up at all. The last electrical service company I worked for had a 110% mark up. Way back in the day when I worked behind the counter selling motorcycle parts the mark up was at least 100%. When I do a side job for friends and family they have the option of buying the material themselves. I'll give them a list of what to get. If I have to get it there will be a mark up. Ask yourself this. Was the service prompt and courteous? Was the repair done in a professional and workman like manner? If the answer is yes you may want to keep his number for when you need him again.
I'm not going down the road of stamping my feet and not paying. That guy did a service to my family. I just want to be treated fairly and not get gouged. Just because the guy came right away, had the part in-stock and fixed it doesn't make it right to charge anything he wants. What happens if it charged me $750 for the part. Is that too much? The rest still holds true that he get a great job and fixed the part. The question at hand is how much is too much. I guess I'm out of touch how much stuff gets marked up. My industry marks up parts and materials 10-20%. 78% (or more) mark-up made me cynical. Normally I would not of even checked the part price on-line because I do appreciate the service that was performed. I agree they likely marked up the part 100%. Warranty wise I'm guessing the part on-line is covered by the manufactures warranty which is what typically from my experience the repair man passes on to the consumer. The only thing that would not be warrantied is the labor to install. I guess would suspect the labor warranty would be included in the 30% that I would anticipate paying. Like I said, guess I'm out of touch.
I'm not going down the road of stamping my feet and not paying. That guy did a service to my family. I just want to be treated fairly and not get gouged. Just because the guy came right away, had the part in-stock and fixed it doesn't make it right to charge anything he wants. What happens if he charged me $750 for the part? Is that too much? Where is the limit? I don't know I guess, just asking. The rest still holds true that he get a great job and fixed the part. The question at hand is how much is too much. I guess I'm out of touch how much stuff gets marked up. My industry marks up parts and materials 10-20% max. 78% (or more) mark-up made me cynical especially on a part that is that expensive. Normally I would not of even checked the part price on-line because I do appreciate the service that was performed. I agree they likely marked up the part 100%. Warranty wise I'm guessing the part on-line is covered by the manufactures warranty which is what typically from my experience the repair man passes on to the consumer. The only thing that would not be warrantied is the labor to install. I guess would suspect the labor warranty would be included in the 30% that I would anticipate paying. Like I said, guess I'm out of touch.
I'm not going down the road of stamping my feet and not paying. That guy did a service to my family. I just want to be treated fairly and not get gouged. Just because the guy came right away, had the part in-stock and fixed it doesn't make it right to charge anything he wants. What happens if he charged me $750 for the part? Is that too much? Where is the limit? I don't know I guess, just asking. The rest still holds true that he get a great job and fixed the part. The question at hand is how much is too much. I guess I'm out of touch how much stuff gets marked up. My industry marks up parts and materials 10-20% max. 78% (or more) mark-up made me cynical especially on a part that is that expensive. Normally I would not of even checked the part price on-line because I do appreciate the service that was performed. I agree they likely marked up the part 100%. Warranty wise I'm guessing the part on-line is covered by the manufactures warranty which is what typically from my experience the repair man passes on to the consumer. The only thing that would not be warrantied is the labor to install. I guess would suspect the labor warranty would be included in the 30% that I would anticipate paying. Like I said, guess I'm out of touch.
I'm not going down the road of stamping my feet and not paying. That guy did a service to my family. I just want to be treated fairly and not get gouged. Just because the guy came right away, had the part in-stock and fixed it doesn't make it right to charge anything he wants. What happens if he charged me $750 for the part? Is that too much? Where is the limit? I don't know I guess, just asking. The rest still holds true that he get a great job and fixed the part. The question at hand is how much is too much. I guess I'm out of touch how much stuff gets marked up. My industry marks up parts and materials 10-20% max. 78% (or more) mark-up made me cynical especially on a part that is that expensive. Normally I would not of even checked the part price on-line because I do appreciate the service that was performed. I agree they likely marked up the part 100%. Warranty wise I'm guessing the part on-line is covered by the manufactures warranty which is what typically from my experience the repair man passes on to the consumer. The only thing that would not be warrantied is the labor to install. I guess would suspect the labor warranty would be included in the 30% that I would anticipate paying. Like I said, guess I'm out of touch.
Also consider too that they don't walk away with several hundred dollars of your money as profit. They have people to order these parts, pay for shipping, unpack and store them, put them in the service trucks and make sure there is enough of everything on hand so they have the right part when needed. (As seen in your case). Also I bet your bill didn't include a line item of overhead costs for the company, that cost has to be in there somewhere too, whether it's line itemed or not. The markup may be 78% but I'm willing to bet the profit is only 10-20%. Also I know this doesn't answer your question about acceptable markup but I don't think there is any clear answer because there are a lot of factors, each different for every type of business.
People used to remark... you know, you charge more than anyone else in the area. I just told them, "yes i do. I know what it cost me to give you the service you expect". They wanted quality and service they paid me. If they wanted the cheapest price.... they could go where they wanted. LOL I didn't run sales or discounts or anything. I advertised and that's about it.
Instead of searching the internet for the cheapest place you can find, why not call the local supply houses and get THAT price. WITH delivery. I am a service electrician and once in a while I have someone like you that think I'm ripping them off. I usually hear "Why are you charging me 5 dollars for a receptacle? I can get it for 1 dollar at home depot!" I always answer them with.... "Go get it...I'll wait for you...just remember that I'm on the clock..." OR... Pay me my service call fee, and when you get the part in, call me for another service call and I'll come back and install it for you. If you supply the part there is no warranty thru us. The real fun is when they find out my company labor rate is 125/hr. Someone always complains about that and says their Dr. doesn't charge that much. I always tell them next time you bring the problem to our office and we will do it for 25/hr.
I remember seeing a sign in a business years ago that always stuck in my mind, it read.... " Quality, Service, Price....Pick Two"
