Are you considering becoming an electrician? If so, then you may be wondering how you can make money as an electrician. I will discuss the best ways to make money as an electrician in this article.
For many years, the electrical industry has gotten bad press. So, if you’re an electrician, you may feel like everyone is out to get you. But I’m here to tell you that isn’t true. In fact, what most people probably don’t know is that there are plenty of ways to make money as an electrician
Additionally, most of them revolve around helping your clients and making their lives easier (and more enjoyable). So, if you’re looking for an honest way to make money and still be part of a field that helps millions of people each year, this article is for you.
1. Offer Home Electrical Inspection Services
Home electrical inspections are a service that many real estate agents recommend for home buyers that want to protect themselves from potential wiring issues. If you already have your license, this is a simple way to make money as an electrician.
Besides, every year, thousands of fires are started by improper electrical wiring. If you are qualified, offer to inspect the electrical systems in people’s homes to ensure they are safe and up to code.
As an electrician, you can help find electrical issues in people’s homes before they lead to bigger problems. You’ll need to set up and market your electrical inspection services and gain clients, of course — but that’s one of the best parts. Surprise: It’s not that difficult.
Installing home security systems, repairing electrical problems, and consulting people on how to stay safe from electrical hazards. Whether you’re a residential electrician or a small business offering electrical inspections, your services will always be in demand.
2. Become A Master Electrician/ Continuing Education
By continuing to learn about your trade, you will always be up to date on the latest trends. Being up to date with information will make you a desirable employee for new positions. It might be necessary for you to attend continuing education courses to maintain your electrician’s license.
The licensing requirements differ from state to state, so you should contact your state’s licensing board for more information. In addition to being able to renew your electrical license, continuing education classes have many other advantages.
Becoming a master electrician means you have been certified to design electrical systems from the ground up, from planning out a project to installing the final wiring. On top of this, you will also have acquired a wealth of knowledge that surpasses even the combined knowledge of the rest of your trade.
3. Consider Power Cable Installation
Work is steady for power cable installers. Cable installers, including electricians who specialize in this, install electrical cables and wire for electric light, heat, or power. You would be amazed at how much money is spent installing different types of power cables. New construction and remodels call for a lot of wiring.
If you have a knack for keeping things neat and organized while keeping up with deadlines, this might be a good line of work for you. Familiarize yourself with local building codes and requirements. You may need a special license or certification in your area, so be sure to do your homework before trying to start this type of business.
It may seem that this work is not appealing to you at first, but the installation of power cables is among the most popular jobs among electricians. They usually charge $50 per hour for this job. This is a sure way to make money as an electrician if you know what you are doing.
4. Sell electrical supplies
As an electrician, if you have the right business skills, you will find a profitable niche selling electrical supplies. There are all kinds of supplies available for sale–fuses, breakers, wire types, fittings, and so on.
You can sell these supplies directly to customers or to other electrical contractors who will resell them to their clients. Each type of supply has different profit margins depending on its mark-up from wholesale cost.
If you can handle the workload, you can sell electrical supplies to make extra money as an electrician. Sales are always good for electricians because everyone needs electrical supplies. You can even hire someone to help you out or sell on eBay if you want more free time to do some electrician jobs.
SEE: How to sell online
5. Offer Your Services To Local Business Owners
You could offer your services to businesses in your area, possibly making extra money as an electrician. Call up local business owners and offer your services to them. For instance, you could install energy-efficient lighting in their parking lot or help them update the electricity outlet sockets near their cash register.
You could also offer to do simple wiring jobs like installing light switches and replacing old ones with new ones. Other services you can render may include:
- Install motion sensor lights
- Diagnose defective wiring
- Fix electrical outlets/switches
- Fix faulty lights
- Design lighting for your home
- Inspect fire alarms
- Diagnose faulty electrical connections
- Install surge protectors/fuses
Not only would you be able to make money as an electrician but you will also help out your clients.
6. Offer Wiring and Rewiring Services To Homes and Offices
We all have to use electricity. If you know how to change a light switch or wire a plug, you could be the only electrician someone knows. And that’s worth a lot. You can make a lot of money as a licensed electrician by offering wiring and rewiring services to homes and offices.
Wiring and rewiring are some of the most common services electricians offer, and it ranks with electrical repairs as a major source of business. One of the most expensive items in any home is wiring. Rewire jobs can run from about $3,000 for a small shop to thousands of dollars for a house.
The most interesting part is that there is always a need for electricians who specialize in wiring. If you follow the basics of electrical wiring, you can make money by helping friends and family fix problems with their electrical circuits.
7. Offer Electrical Health and Safety Courses To Schools and Colleges
Make money as an electrician by offering courses to schools and colleges. If you have a specialty, such as being an expert at electrical safety courses then you should offer that expertise to your local schools and colleges.
Teaching is a good way to make good money and also give something back. Contact schools and colleges and offer your services as a teacher. You can teach many things like electrical safety, the hazards of electricity to young children, and various other topics relevant to your electrical training.
Furthermore, electrical health and safety courses are an excellent way to make money as an electrician. It is also a great way to attract potential new customers and grow your customer base. You can also teach these courses online via various online course platforms.
8. Service Older, High-End Homes
Without even trying, the electrician will come across many older homes with more delicate features. These homes can potentially become clients because they need someone who knows what they are doing.
The oldest homes can have the most antiquated wiring. It’s always an interesting challenge to upgrade these homes’ wiring systems. Because of the home’s value, you’ll likely be dealing with clients who are well off and able to pay.
Professionals in the electrical field can start this business by carefully considering their location. They should concentrate their efforts on markets that have a large number of old structures. The benefit of choosing an older area is the reduced cost of the service, along with a higher rate for service completion.
9. Offer Electrical Emergency Services
When you’re starting as an electrician, it can be very tricky to know exactly where to start with your business. One of the best things that you’ll be able to do with your business is to offer electrical emergency services.
Emergency services are one of the most sought-after things that anyone can do with any type of service-based business. You can offer emergency services for power outages, electrical fires, and other service calls to help a family, business, or community.
No matter how minor the problem seems to you, you never know if someone is expecting to use an appliance or device that depends on electricity for its operation. You may be able to make money by solving someone else’s problem quickly and with minimal fuss.
Being able to fix any electrical problems that come up at any time of day or night is the kind of benefits customers will happily pay for.
10. Become a Handyman and Offer Other Related Services
An electrician can make money as a handyman by providing other related services to local homeowners and business owners. You can offer other handyman services such as carpentry, flooring, etc. This will allow you to increase your earnings and become a one-stop-shop for many homeowners.
As a handyman, you’ll have the opportunity of being paid for more than just your electrical expertise. Homeowners will pay you to help them clean out gutters, install a fence, hang a door, and much more.
Not only do handymen make a good hourly rate on top of a billable job, but you can work on weekends to make even more money as an electrician.
How Much Money Can You Make as an Electrician?
Based on full-time employment, the average electrician earns about $25 per hour or $52,000 per year. The lowest 10 percent of Electricians earn less than $15 an hour, or $32,000 per year, while the highest 10 percent earn more than $43 an hour, or $90,000.
Are there many opportunities to provide the services of an electrician?
Yes. There are many opportunities to get involved with the profession of an electrician, whether it be in residential, commercial, industrial. The opportunities are endless.
Will the demand for electricians always remain high?
Yes. The demand for electricians is high today, and it will most likely stay that way. Technology gives us more access to electricity whether it be a new kitchen, a washing machine, a television, a computer, or a heater.
All of these things require wiring and installation which electrical contractors are required for. Also, industries tend to grow in years which also leads to consumerism. This leads to more people buying electronics and other products, thus requiring more electrician services.
Can you work as an electrician without finishing school?
Yes, the only requirements to become an electrician in the US are a high school diploma or GED and to be 18 years old. In addition to adhering to safety standards, prospective electricians should also be aware of the risks associated with working with electricity.
Think you can’t make money as an electrician? Don’t let the stereotype of the Ugly Sweater dressed electrician fool you. There are plenty of ways to make extra cash if you’re willing to hustle and just know your way around an electrical box.
It will take you no time to earn money selling electrical supplies if you have a business mindset. Furthermore, if you have a lot of skills or if you are versatile, becoming a handyman is ideal for you.
Consider one or two businesses you can run on the side even while you try to find new ways to make money as an electrician. This will help you to supplement your income on a weekly or monthly basis. Consider exploring the blog if you think this could be beneficial for you.
If your weekends are always free, you can learn top weekend business ideas to make money on weekends. Also, check out the article on best business ideas for men that require low start-up costs.