I am a new electrical contractor and after about six months work has been some what slow......I seem to losing more and more jobs and i know it is the direct result of my poor estimating skills. I have read a few estimating books but their methods are complicated. Could use a little help.......
electrical estimating
- Thread starter gabby
- Start date
- Status
- Location
- Bremerton, Washington
- Occupation
- Master Electrician
Re: electrical estimating
Mike Holt has series of books on electrical estimating. I recommend you take a look at them...
Mike Holt has series of books on electrical estimating. I recommend you take a look at them...
bphgravity
Senior Member
- Location
- Florida
Re: electrical estimating
Take your labor rate, multiply it by the amount of hours you expect the work to take. (Give yourself some allowances) Add this number to the cost of labor and whatever markup you deem resonable for the material. (I mark up material from 40% to 60%) Once you receive this total, add whatever profit you expect for the job. (I tend to use 15% to 25% depending on size and level of work)
Keep a log book of every job you do and the total labor and material cost that were assoicated with that job. This will allow you to readily access the information to make future acurate estimates.
Outside of the numbers game, add incentives to your bids to make them more attractive. Things like 1 year guarantees, free return inspection of installed materials and equipment, senior discounts, military discounts, and so on.
The most important aspect of successful bidding is personal involvement. Hand deliver proposals. Explain them out in relative detail. Provide a smile and a handshake. I have won more jobs from simply being courteous and spending a little time going over the plan with the customer than from being the lowest bidder. It almost assures return work for the life the client. Good luck and hang in there. PRACTICE!
Take your labor rate, multiply it by the amount of hours you expect the work to take. (Give yourself some allowances) Add this number to the cost of labor and whatever markup you deem resonable for the material. (I mark up material from 40% to 60%) Once you receive this total, add whatever profit you expect for the job. (I tend to use 15% to 25% depending on size and level of work)
Keep a log book of every job you do and the total labor and material cost that were assoicated with that job. This will allow you to readily access the information to make future acurate estimates.
Outside of the numbers game, add incentives to your bids to make them more attractive. Things like 1 year guarantees, free return inspection of installed materials and equipment, senior discounts, military discounts, and so on.
The most important aspect of successful bidding is personal involvement. Hand deliver proposals. Explain them out in relative detail. Provide a smile and a handshake. I have won more jobs from simply being courteous and spending a little time going over the plan with the customer than from being the lowest bidder. It almost assures return work for the life the client. Good luck and hang in there. PRACTICE!
Re: electrical estimating
Look into craftsman book company, they have several estimating books that also come with a cd-rom, also check i2 Technologies at www.i2-tradesvc.com they have a book called i2 Electrical Price Guide that runs about $40+ it has labor units and material prices that can help you with your estimating. Also your local community college may offer some estimating classes. I hope this info can be of some help.
Look into craftsman book company, they have several estimating books that also come with a cd-rom, also check i2 Technologies at www.i2-tradesvc.com they have a book called i2 Electrical Price Guide that runs about $40+ it has labor units and material prices that can help you with your estimating. Also your local community college may offer some estimating classes. I hope this info can be of some help.
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