Need Some Help With Estimating/Labor Prices

mikewidd

I'm fairly well rounded in the Construction and Remodeling fields. My problem is, I never actually had to give a price quote or Estimate. I've been getting my feet wet with friends and family. But I seem to low balling myself., Coming away with little or nothing to show for it. Is there a standard as to what you charge, ex: per foot/ per hour/ Sq footage. I have an upcoming basement frame out and finish, But don't want to get burned as it is a fairly decent sized job.

Any advice or help would be greatly appreciated...

greg24k

I will help you out because this morning I have a little time on my hands When you estimating a job you don’t have to be a genius. You have to use common sense. Start with understanding your labor and overhead cost. Labor cost is straightforward, make an average labor rate per hour for each labor category that you do. These rates should include not only basic wage, but also benefits, payroll, taxes and insurance rates. Be sure to include break time, travel time and so forth. Next is your overhead cost which many seems to forget. They should include supervision costs if any, office expenses, accounting, tools and equipment, fuel, supplies, etc. Here you need common sense and know how major factors of general overhead is consumed. If you use sub-contractors, each trade can drive the management cost oversight, so you have to add for each sub-contractor's quote.

Now don't forget about the customer who hired you. Being in this business we know some customers are much more difficult to work for then others. Some like to handheld, some are fussy, some slow paying etc. Have to learn about these things at the meetings, learn about theirs personality at the same time they studying you, and try to see if these customer’s fit the customer you like to do the work for. If they don't, you be better off walking away from it, if they do, factor in to your bid the level of customer service required.

Nobody here can help you to come up with the price, only you can figure out what you have to make, what your overhead is and what the going cost is in your area is for a specific trade. Good luck

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English Roofer

I would take in everything that Greg has said because normally the going rate around here is treefiddy!

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TxElectrician

Take this info and run before the regulars get here

strathd

Hey Mike, did you hear that B-52 take off. He He He

SLSTech

Take Greg's advice, then look at the sticky thread in the Buisness section for Pricing & Estimating, you might also pull a search here on the words markup & profit

Good luck

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RizzoMaryland

..target confirmed....

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