NORAMARK Forums

This is a question I ask people and the amount of different answers is great. It just goes to show you the art and science of determine your shop rate.

One metric I use to get my Shop rate is the full loaded cost of an employee. Taking into account what you pay an employee per hour is just a part of the equation. Factoring in benefits and vacation divided is important as well.

I think it would surprise people what the true cost of your employees really is. Once you do you can then start determining the profit you want to make based on a ton of other factors in the marketplace.

George Bain here. I live in northeast Ohio with my wife and son. My Shop is on the eastside of Cleveland. I come from a family of manufacturing business owners stretching back 70+ years. I really like making cool stuff. We pride ourselves on being a thinking person's shop. We are all about partnerships. If I'm part of an RFQ with 5 other Shops then I'm probably not the company to help. I'm 41 and willing to take on the mantle for the next generation of manufacturing owners. I'm old enough to remember MySpace and being a first user on Facebook, but young enough to adopt the newest tech that makes life easier.

@MTK_ @Robert_Beecher There is quite a bit of opportunity to build upon the great foundations that older Shop owner have built. It pains me to see all the hard work and tribal knowledge go away so fast. I am hoping to find some great people who will trust me with continuing their legacy, keeping jobs, and helping their customers.