How Electrical Contractors Make Money

Learn how electrical contractors make money through service work and new construction, understanding the importance of efficiency and cost management.

Last updated November 18, 2024
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About the video

This lesson explains how electrical contractors generate revenue, focusing on both service work and new construction. You’ll learn about the significance of time and material in service work, where contractors estimate labor hours and material costs for various tasks. The video details how new construction bids are created by estimating the required materials and labor based on project plans. It emphasizes the importance of efficiency, cost management, and minimizing waste to maximize profits. By understanding these business aspects, apprentices can appreciate their impact on a company’s bottom line and the importance of being diligent and efficient workers. To get started, go to the Lesson Content tab and click on the video.

About the quiz

Each lesson contains a video, and is followed up with a simple quiz. Quizzes review information discussed within the video, with each question providing an answer justification. Helping to reinforce correct answers and helps clarify any mistakes through code citations, excerpts, and explanations, so you can better understand the material.

Charges

Charges are rewards you earn for engaging in our learning system. You receive charges for completing both the video and the quiz in each lesson. The amount of charges available for each lesson is displayed in the “Lesson Features” box on the right. The charges you earn are based on the time it takes you to complete the lesson, which is also indicated in “Lesson Features.”

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