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Description: Come up with a service that you can do for profit that involves billing customers for your time and the materials used to repair, upgrade, or create something. It has to involve both your time and materials that you purchase. 1. Determine a labor rate to charge your customers. This rate should include not only the cost of your time working on the repair, but also the cost of your taxes, transportation, benefits, paperwork, etc, and also a profit for your business. The labor rate should be in the form of dollars per hour. Determine a material overhead rate to add to the cost of the parts you will need to use for the repair. For example, if you are going to paint a house, you will have the cost of the paint, but also a rate to add to that cost to cover time spent buying, picking uo, storing, paperwork, etc 2