Getting your estimates right can win bids and protect your profit margins. Here’s a step-by-step approach: start with a detailed scope of work, breaking down every element—excavation, concrete, framing, finishes—into line-item tasks. We provide a downloadable Excel template (or Google Sheets) that automatically calculates materials, labor hours, and equipment rates.
Next, learn to factor in indirect costs: site overhead, permits, insurance, and project management fees. We’ll show you how to apply markup percentages strategically and build a contingency line (typically 5–10%) to cover unforeseen issues.
We also cover historical data analysis: how to mine your own completed projects for actual vs. estimated cost variances, then adjust your unit rates accordingly. Finally, tips for presenting your bid: clear, professional formatting; narrative summaries; and highlighting value-added services that set your proposal apart.