I see electricians in my area (richer mid West) are charging $250-270/h. I don't see much overhead costs. Is it really that lucrative as I think it is?

Guessing an utilization rate of 75% of a 40 hour week the labor revenue would be $390k. Am I wrong about the amount of work they have or the hidden costs? My guy had a large van full of tools but that's kind of a one time investment of maybe $100-150k.

Thinking about a new career.