A lot of painting contractors get confused when it comes to offering their customers estimation for the job. They can neither afford to lose customers by overcharging them nor are they interested in paying from their own pocket just to bid low. It is more important for residential painters to bid accurately so that the estimate price turns reasonable for the contractor and the customer.
Why should a residential painter provide an estimate?
The chief purpose of providing an estimate is to come up with a price that will allow a painting contractor to win over the contract while ensuring quality is not compromised. Estimation allows a contractor, to come up with a correct price which is inclusive of the variable costs, overhead costs and the targeted profit margin.
A competitive price can not only earn you the job but will ensure that you are able to earn great profits out of pricing. Quoting an extremely low price is sometimes not the solution to get the job. It can ultimately affect your business since you will be forced to compromise on quality in order to ensure the work is delivered around the budget as promised by you.
How to estimate a residential painting job?
The fundamental things to consider before estimating on a residential painting job are as follows:
- Total number of hours needed for the prep work
- Total hours needed for application
- Total cost for painting supplies
Now that you have finally understood the factors related to a residential painting job its vital how you must estimate:
Determine the total labour costs
After you have finally ascertained the total number of hours needed for completion of the work, multiply the number with labour rate and the amount will sum up to the total labour cost you need to bear for the Residential Painting in Perth.
Determine the total material cost
To ascertain the cost, multiply the gallons of paint and supplies with per unit cost. Also add sundries to the price.
Determine the total material and labour cost
Add the total material and labour costs to determine how much the job will cost.
Get a final price
At this step you will need adding up the company mark-up to include overhead costs and the amount of profit you are likely to earn from the Residential Painters job in Perth. This amount will mostly depend on the scale of your business and the goals you have set.
Determining the Prep and Application hours
An accurate estimate will include all the details pertaining to the time dedicated for prep work and the application time.
These are some usual ways how Painters in Perth give an estimate to home owners.
If you are starting up a business in residential painting consider these steps before an estimate.
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