How Many Bids Turn To Jobs

 
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Old 01-21-2018, 08:19 PM   #1
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How Many Bids Turn To Jobs


So the other day I was talking to my buddy. He works for a company as a framing foreman. He was just after looking at a trim job for himself. Was going over some of the numbers with me. Then he started telling me that another contractor he was talking to. Stated tell him that he is bidding to low if he get more than 3 jobs for every 10 bid. So I said no way that guy is bidding to high to cover all the time wasted on lost jobs. How many jobs do you guys get per ten or what percentage.
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Old 01-21-2018, 08:28 PM   #2
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Re: How Many Bids Turn To Jobs


On jobs 20k or less I'm probably 6 out of 10. All referrals. But as the numbers climb 3 out of 10 becomes closer

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Old 01-21-2018, 08:46 PM   #3
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Re: How Many Bids Turn To Jobs


90% closing, not the lowest bidder. Residential isn't always about lowest bid.
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Old 01-21-2018, 08:51 PM   #4
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Re: How Many Bids Turn To Jobs


When I need the work I canít hit 9 out of 10. When we are busy I can get as low as 2 out of 10. My profit moves with the needs of the company. Working for small profit is better than no profit. We make it up once I fill the schedule.

Become obsessed with prequalifing leads to sort out the time wasters and your close % will skyrocket.
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Old 01-21-2018, 08:53 PM   #5
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Re: How Many Bids Turn To Jobs


If I'm only getting 3 out of 10 I would have quit 29 years ago. I get maybe 8 out of 10 the 2 I don't get I really didn't want.
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Old 01-21-2018, 09:19 PM   #6
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Re: How Many Bids Turn To Jobs


4 out of 10 if not a referral.


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Old 01-22-2018, 04:53 AM   #7
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Re: How Many Bids Turn To Jobs


If it's a referral I'm probably 7 or 8 out of 10. If it's some random cold caller it's probably 5. But those numbers are skewed because often I'm not interested in doing the job.

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Old 01-22-2018, 09:34 AM   #8
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Re: How Many Bids Turn To Jobs


Bottom line. Do a lot of estimates. Increase yur chances.

My % numbers vary. And supply/demand play a large role. Right now peope are dying to find a contractor able to do work as many of us are backed up. Therefore,my estimates reflect that. And I get to chery-pick the jobs I want and stay away from the bs jobs and bs HO's.
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Old 01-22-2018, 09:54 AM   #9
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Re: How Many Bids Turn To Jobs


Quote:
Originally Posted by kirkdc View Post
Bottom line. Do a lot of estimates. Increase yur chances.

My % numbers vary. And supply/demand play a large role. Right now peope are dying to find a contractor able to do work as many of us are backed up. Therefore,my estimates reflect that. And I get to chery-pick the jobs I want and stay away from the bs jobs and bs HO's.
Nah, estimates are time consuming, as is the process of next meeting and selling. I don't want to bid it if I don't get it. Qualify your clients.

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Old 01-22-2018, 10:30 AM   #10
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Re: How Many Bids Turn To Jobs


We always average about 30-40% wins on the actual bids we turn in. However, we strongly pre-qualify all prospects before going thru the effort of generating and estimate and proposal.

Spend some time qualifying your prospects first to see if they seem like a good fit and your closing rate will improve dramatically. Do they have the money, the need, the desire? Am I talking to the decision maker? Are they willing to pay more than low bid for someone that works safe, maintains schedule, keeps a neat jobsite, etc.?
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Old 01-22-2018, 10:46 AM   #11
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Re: How Many Bids Turn To Jobs


i don't do mega-big jobs and my estimates dont take long at all.

Bid high, bid often. it works for me. and again my estimate is not detailed down to specifics..it's just an estimate. If they sign on then we sit down and play ball.

In very little time, I can toss homeowners 8-12k at them on an avg. mid grade bath remodel and that often tells me if they pre-qualify or not.

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