A few Basic Steps to Take In Order To Bid More And Win
More!
- Number one, Know your overhead Overhead is the total of all the
other expenses that are not directly billed during a project. It
can include your insurance, the mortgage and utilities for your
office or shop, labor for a bookkeeper or administrative assistant,
taxes and many other expenses that must be paid to keep your
business operating smoothly. Failing to include overhead in your
estimate can make a profitable job nothing but a money pit.
- Is a good fit for your business. Does your crew have experience
in this type of work? How many jobs of this type have you completed
in the past? Are there new technologies or fixtures in the specs
that you haven’t worked with before? Is it in an unusual
location that will require a range of specialty fixtures, supplies
and techniques? Make sure your crew can comfortably complete the
job without damage to the equipment or themselves.
- Study the specs, noting any issues. This can’t be said
enough. If the specs have anything in them that is not standard or
if you notice any problems, this is the time to deal with them, not
once the job has been completed and something is not right.
- Review whether the plans are complete for your purposes. Are
there smoke detectors or HVAC mechanicals that don’t appear
in your set of the plans because the plans are sectioned? If so,
you may want to look at the master plans to determine whether any
areas have been overlooked that would be expected in the final
proposal.
- Complete your takeoff counts, making notes as you go when
possible. Make sure you are meticulous in listing these and are
using the right type of format for the job you’re
undertaking. Whatever methodology you use while completing quotes,
make sure you go back over them to ensure they are accurate.
- Research specialty fixtures. Do the plans require dimmers,
timers, photovoltaic panels or similar technology with which you
may not be familiar? Are the specs calling for aluminum wire
instead of copper, requiring upgrades to wire and conduit size? If
so, make sure you can readily order the items needed and that you
have the knowledge needed to both price and install the
technology.
- Calculate your labor costs. How much work will it take to
complete installation of the electrical system? Is your shop union
or non-union? Have you included the labor escalation rate that
raises the cost of installation by 1-2% for every floor above the
fourth in taller buildings? You’ll still need to pay your
laborers for their time spent going up to the job site.
- Double-check your figures and remember to include your
supplier’s quotes. Have you heard back from all your
suppliers? Are your takeoffs accurate? What about your labor
estimate? Mentally walk your way through the project to check
whether you’ve forgotten any tasks or missed any material
that will be needed to get the job done right. Some estimating
software compares your total to industry averages.
- Look at the financials. Are you carrying money for the project
manager? Have you included the cost of carrying the foreman or
foremen for the project? What about the labor superintendent or
steward if the project is union? Don’t forget to add in some
measure of profit, because you’re in business to make money,
not just scrape by.
- Prepare your estimate paperwork. The proposal or scope letter
should include a list of everything that is included in the job. If
there are tasks that are often included but that you’re
separating out, it’s vital to list them properly so the
client can’t say that it was assumed that they were included
as well due to local custom. Take the time to check it for proper
spelling grammar, as it represents your company to the client.
- Submit and follow up on your estimate. Once you’ve
finished your paperwork, it’s just time to turn it in. You
can often attend public bidding sessions, which allow you to
directly address any concerns that are being brought up while the
session is ongoing. Doing so also presents you in a favorable
light, because the client then trusts that you’ll be
available when there’s a problem on the job site.
- Charter Estimating is here to make
sure you address these tasks. We do more than just estimate we help
you Win..call or email us today with your plans, get a free quote
and let us help you navigate through the competitive