Painting Estimating Services demand a lot of effort and more complications to develop accurate Painting Estimates. It generally delivers more sales at a higher price point with better expectations from your customer. It also provides a way better customer experience and spending more money on marketing because it helps you sell more at a higher price point.
Here are the seven essential steps of having accurate Painting Estimating Services.
- Plan review.
- Painting Estimating Checklist
- Estimate the cost of materials.
- Estimate the labor cost
- Estimate the overhead and marketing cost
- Markup determination
- Examine the final painting Estimate
Painting Estimates generally involve custom estimates with different variables developed step by step for every kind of contractor. It also prepares an accurate painting estimate for any job that will save your time, win more bids, and increase the margins.
Step 1: Plan review
Painting Estimate involves a thorough review of the site that helps to save time and money. Its process involves a comprehensive analysis of the structure and surface area to fulfill your job task successfully. Plan review is essential for painting contractors that get applied to new construction or renovation projects. Many contractors are proficient in analyzing plans. Painting Estimating Services is a part of Interior and exterior finishes estimating services that include Flooring Estimating Services and Drywall takeoffs.
Plan Review generally involves few things that are given as below
- Site Plans
- Floor Plans
- Interior Elevations Drawings
- Reflected Ceiling Plans
- Several Schedules that the Architects provide.
After completing a thorough review of Project Plans, it is necessary to complete a Painting Estimating Checklist.
Step 2: Completion of Painting Estimating Checklist
After getting familiarity with the Site plans, below are the few standard variables that you merely want to watch for. Extensive use of these questions is necessary for the essential checklist to complete a painting job.
Few general Questions relevant to Painting Estimating
- Examine the experience of the painting team?
- What is the brand of your useable paint?
- How demanding is your Estimator?
The relevant question about painting?
- Are the surfaces painted or stained?
- Inspect the surfaces being painted in latex, enamel, lacquer, or polyurethane?
- Do all the sides of the surfaces are of the same color? Or will any sides of the surface require more than one color?
- What specific tool will help you to cover the surfaces (brush, roller, or spray)?
- Does the client demand multiple coats?
- How much drying time does it cost between the coats?
- Are you able to make a second or third trip to fulfill the complete job?
This specific time takes completion of a job that varies dramatically and based on experience. It generally highlights the foremost part of painting estimating a custom job. For these specific reasons, you must have to work through the checklist or similar one to customize for a particular job to develop the estimate.
Step 3: Estimate the cost of materials.
After completing the painting checklist, it’s time to estimate the cost of materials that includes paint and supplies.
Cost of Paint
While estimating the cost of materials, paint is the main thing to consider because, without its use, the work will not be done effectively. While pricing a paint per gallon, an extensive range exists that generally depends on the brand and quality. Different paint prices per gallon typically cost an average amount of $15 – $50. To break down the paint cost for an owner versus a contractor for low, medium, and high-quality paint.
Cost of Supplies
After collecting the paint cost, you mainly require the expense of other supplies to apply the paint. A list of standard supplies is given below that mostly need while estimating its cost.
- Masking Plastic: 2 rolls
- Caulking: 6 tubes
- Tarps: 10+
- Masking Paper: 3 rolls
- Brushes, Rollers, etc.
- And Primer: 1 Galloon.
The prices of the above-given things depend on the bran and the geographic location.
Step 4: Estimation of Labor Cost.
It’s time to estimate the labor cost that is simple and easy to estimate for painting due to the extreme quantity of variables. Few necessary general numbers can help you estimate few variably low numbers, and individual variables cost you money. Painting labor involves several workers and a specific period that depends on a particular condition of a job.
Step 5: Estimate the Cost of Overhead and Marketing
It’s quite productive to include a specific cost to run against your business and market to ensure either you’re not losing money on your projects. Not factoring in the few costs relies on how your profit margins begin to slip, and it provides that they don’t try to make sure it costs that is not more than 10% of the job price.
Step 6: Examine your markup
Make sure you have included your markup in the final estimates. Try not to aim for no less than 50% of the profit margin if you’re a relatively small contractor and having 30%, if you’re having a larger company. It not only ensures you a profit margin but also elevates your business that continues to grow. It also helps in accounting for the variables that are relatively hidden and anticipates in the initial start.
Step 7: Examine the final painting Estimate
The final step is to calculate your final Painting Estimate that is relevant to Construction Estimating with the below-given formula:
Material =Labor Costs + Overhead/Marketing Costs + Markup Costs = Total Project Costs.