Estimating
cost for a paint job can be a tricky task. Neither do you want to pitch so high
that you stand way ahead of the market, nor do you wish to pitch so low that
you become a low quality service provider and lose the contract. When it comes
to estimating a paint job, you have to be just about right and the only way of
doing it is by careful analysis of what your customer requires and how
effectively you can deliver. Here are 6 steps which I believe are essential to
perform if you want to properly estimate costing.
Perform a Site Visit
Start
by visiting the place to get the idea of what the site looks like. When it
comes to paint job cost estimation, there are many factors that one should pay
attention to. Some of them may involve poor wall conditions, darker walls,
multiple accents, different colors, etc. measure how much paint will be
required and ask the client if they just want the walls painted or they want
more like door paints, furniture paints, etc. Also it is better to ask them
beforehand if they will supply you with the paint or you will have to arrange
it on your own. Whether they would like to get a specific brand or you can
choose the one for them. These things will help you estimate the cost more
accurately.
Estimate the Cost of Paint
If
you are living in the U.S. then paints can cost you somewhere in between $15 to
$80 based on the brand and quality which you want to use. On an average, $45 is
a good cost estimate per paint gallon. Now estimate the amount of paint you
will require for the job and talk to the contractor about discounts. If you
have a good relationship with the contractor and you buy a lot of paint from
him every month, it will be easier for you to get a sizable discount on your
overall paint costs.
Estimate the Cost of Material
If
you’re performing an exterior paint job, there will be other material that you
will require apart from just the paint. These materials include Primer,
Caulking, Tape, Masking Paper, Masking Plastic, etc. The amount of materials
that you will be using depends on the amount of paint that will be required.
Estimating cost beforehand for the materials will help you devise a better
paint job quote.
Therefore,
perform a thorough cost estimation and select the best materials for the job.
Same as the paint, you can also ask the contractors for a discount on materials
and save up some profit.
Estimate Labor Cost
Another
area that you should focus upon is labor costing. This can get a bit tricky
because on average, a labor may cost you around $20/hour. But to hire a person
on the per hour basis can give the labor a leverage to extend the time of
performing a paint job as per their own likings. The greater the number of
hours, the more you will have to pay to the professional. The best way to avoid
this hassle is to discuss everything with the labor beforehand. How much time
will they require to perform the paint job and what will be the overall cost
per day. Based on the costing, you can then pitch the client accordingly.
Also,
it will be wise to keep an extra day for other tasks such as tree removal, wall
fixing, or difficult jobs.
Estimate your Markup
Are
you new to the painting business or are you an old chip in the block? It will
define what markup you should be setting up for yourself. To begin with, you
can start with a 30% markup if you’re new to the business. And just in case, if
you are a seasoned vancouver painter, then you can begin at a 50% markup as you will be working as a more
experienced individual within the respective field. There’s a strong chance
that you as a more experienced firm may have a staff, an office, accounting
fees or higher sales & marketing costs.
So
before you set your markup, make sure to analyze all the overheads and costs
involved.
There
are several other costs that will be incurred which includes warranty fund,
clothing, vehicle and gas. Round up and estimate a desired markup and then make
the decision what markup will work best for you.
Lastly, Perform Detailed Calculation
Now
you’re finally going to pitch your client so before you do it, make a final
calculation.
Assemble
every desired cost in one place and sum all the overheads. These may include
Paint Cost + Material Cost + Markup + Additional Expenses. Round up the total
sum to a close figure and then it’s up to you to choose whether you wish to
offer them a discount or make some additional profit. Create a formal document
for price estimation and dispatch it to the client representing as a vancouver painting company.