X2, same goes for fishing wires and knowing how to get it done. Even then you need to figure in what your overhead will be before you start on your own. Expect delays, problems and over expenditures like broken devices, damages boxes or breakers. Always figure in for these little things on every job. I always put in a misc charge for staples, tape, screws, nails, etc. While these little things seem petty the cost adds up quickly. As 480 stated experience is a must here for knowing costs. I worked for my previous boss for 10yrs and did my own side work for at least 6yrs and to be honest i was still uncomfortable with knowing what to charge but you will catch on quick or go under.It's called benchmarking: Keeping track of how long a particular portion of the job takes.
How long does it take to lay out a 2,000 ft² house? How long to box it? How long to drill it out? Install the NM? Stuff n staple? Make-up? Install the service? Install devices? Hang a ceiling fan?
Your past experience should be a good yardstick to go by.
SFO..... brings up a very good point/ and an important "orientation" and probably most/very applicable to the invisible trades (non-finish----electrical /plumbing/HVAC).Get comfortable with the idea that proper pricing will disqualify you from the great majority of jobs - 99 of 100 CraigsList leads, 3 out of 4 personal referrals, most inquiries from general contractors. Most homeowners and most general contractors care only about price, and can find someone who will work for peanuts.
Everything is relative.Not sure about that. $60/hr adds up quick. Making money is relative I suppose..