What’s your labour rate?

[Newbeeneil]

I spent yesterday sorting my 23-24 tax return and thought I would try to work out what my labour rate was based on my income versus expenditure and a guesstimate of the hours I work on my hobby.
Obviously my rate is not strictly based on honey sales as I also manage bees for clients but I was pleasantly surprised to find I could pay myself £12.50/h for my hobby

 

[Garry R]

About minimum wage then.

 

[Penninetrader]

I spent yesterday sorting my 23-24 tax return and thought I would try to work out what my labour rate was based on my income versus expenditure and a guesstimate of the hours I work on my hobby.
Obviously my rate is not strictly based on honey sales as I also manage bees for clients but I was pleasantly surprised to find I could pay myself £12.50/h for my hobby

That is amazing, probably not typical

 

[Newbeeneil]

That is amazing, probably not typical

As I said, I have the advantage of being paid to look after hives for clients. I should think my rate would be close to £3-4 if I just put my honey receipts in

 

[Newbeeneil]

About minimum wage then.

I certainly would work for that but being retired it’s a lovely way to get a bit of pin money

 

[BeeKeyPlayer]

Getting a decent hourly rate is not just about covering your expenses but also being efficient and getting a lot done in an hour. I've kept tabs on income and expenditure and am only now in the black. I haven't kept a note of time spent. Having a lot of colonies forces you to get more out of time put in, but even so, I'm pleased that my retirement activity pays for itself. I doubt it will ever pay for me.