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Scrit
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Firstly on bespoke pieces I feel that woodworkers are probably the only people in the world who think it's OK to charge for materials at cost. Why? You have to source the materials, often end up going to get them then you need the tools and equipment to break them down - all of this costs money as well as time - so I'd put a margin on the materials over and above wastage factors, which with walnut is more likely to run at 20 to 30% of the total. after all you are in busimness and without profit there is no business......
Secondly before starting any serious work on this project I'd go through the pencil layout, work out the sizes, etc cycle and then gently enquire about their projected budget. There's no use in working out a fantastic design in solid hardwood when their budget is £250!!! There are ways to keep within budgets and deliver the product, but that can mean utilising materials such as veneered MDF for the carcass and just using solid timber for the doors. Remember that sheet stock not only costs less, but the amount of labour to utilise it in a finished piece can be considerably lower. If you can get through this stage suggest that they make you a payment for the initial design and work the design up to a reasonable point before going into the costings aspects.
Thirdly, you mention walnut and maple. Maple is not an indiginous species and for the most part is imported. That adds significantly to its cost. It's nearest relative, introduced by the Romans, is Sycamore - a timber quite widely available and with many similarities in both it's appearance and working to maple. If cost becomes an issue it is an idea to have that sort of knowledge in the background.
Build a detailed costing spreadsheet - right down to the last 5 minutes of labour and the last packet if screws. First time you dop one of these it will drive you nuts. Persevere! Once you've built one that works it becomes a template for future work. The biggest problem is in trying to come up with an hourly charge rate. Remember that for someone making a living from it that whilst they may realistically want to earn, say £9/hour pre-tax, in reality paying for your equipment (wear and tear, depreciation), rent, rates, insurance, phone, etc - not to mention pension and employers contributions (NI) - will bump that figure up to somewhere between 2 and 3 times the figure you pay yourself. And we don't all work 40 hours a week, 52 weeks a year - so holidays have to go into the equation as well times when there is no work around - your landlotd won't stop collecting the rent just because you're not earning. Why do you think that even small garages charge £30+/hour these days? You also need to work out a profit margin on the whole. If you aren't making a profit from the job over and above your labour costs then where is the money going to come from to buy new tools, equipment, etc.
Lastly, you need to work out a payment schedule and stick to it like the proverbial. I'd suggest 1/3 of the total end price at least before you start - that will cover the materials, the 1/3 on the day you actually start, and then the balance on completion and delivery less say 5% withholding against defects, the final balance to be cleared 30 days after completion. If your raw materials come to more than 1/3 of the total increase the initial deposit, but if that is the case then I'd look seriously at your ciostings because something is probably wrong. I was taught that this "Rule of Thirds" works well for many manual crafts as a costing indicator - 1/3 materials, 1/3 labour and 1/3 profit.
Keep your customer up to date with progress - a digital camera and emails will suffice and it gives them an album of the origins of the piece which they may feel enhances the value of the piece.
As far as I'm concerned there are few friends in business - and a friend who wants me to do a job on the cheap is in reality taking the bread out of my family's mouths - a harsh fact but nontheless a true one
Hope I haven't put you off. Good luck!
Scrit
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