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Validating Estimates Using Homewyse?

 
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Old 03-29-2016, 08:21 AM   #1
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Validating Estimates Using Homewyse?


Hi, my husband and I started a home improvement company. We're in the process of assessing the prices we've been giving to make sure we are able to earn a decent living. What do you guys think of www.homewyse.com? It seems fair and accurate to us so far. Is it generally recognized as a useful guide? I wonder where the info comes from...
Thanks all.
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Old 03-29-2016, 08:39 AM   #2
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Re: Validating Estimates Using Homewyse?


Those prices seem really low to me. Try this one as a sales tool if needed http://www.remodeling.hw.net/cost-vs-value/2016/

Read this whole site to figure out what to charge to stay in business and or make a profit. http://www.markupandprofit.com/

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Old 03-29-2016, 08:47 AM   #3
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Re: Validating Estimates Using Homewyse?


It is not even close to what we charge.
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Old 03-29-2016, 09:03 AM   #4
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Re: Validating Estimates Using Homewyse?


Thanks so much for that feedback. The site states it does not include overhead, which is something we're struggling to account for and of course is very important. I will read the article carefully.
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Old 03-29-2016, 10:35 AM   #5
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Re: Validating Estimates Using Homewyse?


Those prices are on crack. Maybe start with the high end of the pricing and go from there. Those low end costs won't even get you a decent hack.

Only you know what it will cost you to stay in business and have the lifestyle you want.

Have either of you been in the trades before. If you have, you should know what your basic timelines for the jobs you want to do. You will miss and you will lose money in the beginning, but that is the way you learn.

The problem with those types of sites, is that the customer only sees the low price. They also don't understand the concept of overhead.

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Old 03-29-2016, 10:48 AM   #6
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Re: Validating Estimates Using Homewyse?


Quote:
Originally Posted by Dan_Watson View Post
It is not even close to what we charge.

I dug into that site a little deeper and I wish I could get 681 bucks to install an interior lock set.
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Old 03-29-2016, 11:31 AM   #7
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Re: Validating Estimates Using Homewyse?


Quote:
Originally Posted by WarnerConstInc. View Post
I dug into that site a little deeper and I wish I could get 681 bucks to install an interior lock set.
And the highest price given for a deck is half of what we charge. It's just a bad site all around.
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Old 03-29-2016, 11:35 AM   #8
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Re: Validating Estimates Using Homewyse?


That's like the sites that say it should cost 200 dollars to put a chair together.

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Old 03-29-2016, 11:43 AM   #9
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Re: Validating Estimates Using Homewyse?


Says 8.5 hours to install 150' gutter


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Old 03-29-2016, 03:01 PM   #10
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Re: Validating Estimates Using Homewyse?


Quote:
Originally Posted by VinylHanger View Post
Those prices are on crack. Maybe start with the high end of the pricing and go from there. Those low end costs won't even get you a decent hack.

Only you know what it will cost you to stay in business and have the lifestyle you want.

Have either of you been in the trades before. If you have, you should know what your basic timelines for the jobs you want to do. You will miss and you will lose money in the beginning, but that is the way you learn.

The problem with those types of sites, is that the customer only sees the low price. They also don't understand the concept of overhead.

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That is true!

My husband was working for a company for ten years. We decided to strike out on our own. He has amazing ability to estimate hours of labor and materials costs but has been very bad at incorporating the many unpaid hours of going out to see jobs, needing to add a surcharge on materials to account for wear and tear on tools, etc, not to mention my time doing his books. And we also have the insurance, permits, etc to add. Hopefully we'll do better next year. Thanks for the responses.
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Old 03-29-2016, 07:26 PM   #11
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Re: Validating Estimates Using Homewyse?


Quote:
Originally Posted by wendy198 View Post
not to mention my time doing his books.
Welcome to CT Wendy

He's not paying you? You need to get that fixed right away.

You said he is good at labor and materials. Fact is, many, if not most, of your clients only want to pay you for time and material. Your job is to not let that happen.

Stick around, you'll get lots of good advice: for instance, you've already deleted those pricing sites, right?
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Old 03-30-2016, 03:27 AM   #12
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Re: Validating Estimates Using Homewyse?


Quote:
Originally Posted by Dan_Watson View Post
And the highest price given for a deck is half of what we charge. It's just a bad site all around.
What is the price for that deck that you feel is low?
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Old 03-30-2016, 08:32 AM   #13
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Re: Validating Estimates Using Homewyse?


Quote:
Originally Posted by trussme View Post
What is the price for that deck that you feel is low?
$19k and change, for 710 Sq ft.
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Old 04-03-2016, 03:13 PM   #14
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Re: Validating Estimates Using Homewyse?


We did use them, they have us some leads months old were the jobs were done. Called to complain then they i.e. honewyse got their attorneys to call wanting money on those same leads .I explained to the attorney that not only were the jobs done months ago but the leads were no good and we are paying for bad leads. Their own attorney said ,yes I have ran into this before. Come in selling us a lead on a job that is not only old but done long before I get it is not only a waste of my time but is dishonest. Don't do business with them.
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Old 01-24-2018, 12:57 PM   #15
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Re: Validating Estimates Using Homewyse?


to be adjusted of coarse as needed.

If just starting out, start small and work your way up.

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