If you ask five different contractors to quote a painting project, you’ll probably get five quite different answers. Some contractors use a rough base rate of $1.50 or $2.00 per square foot, multiplying 4 to 6 times the paint cost, estimating the time the project will take and adding it to a materials estimate—and some just give the lowest price to outbid the competition. Each of these strategies can be effective at times, but if you want to build a successful business built on offering a reasonably priced, dependable service to clients who provide free word-of-mouth advertising, it pays to be as exact as possible with your paint job estimate up front. Moreover, various of website are available from where you can get the best painters, such as maler holte and maler helsingør.
Although it may take a little longer, accurate estimating will help you be more lucrative, appear more professional to potential clients, and obtain the tasks that are ideal for your company. Because the only thing worse than being outbid on a contract is winning it by being the lowest bidder—and losing money in the process. Prepare yourself expecting a customer’s estimate to be cheaper than yours, and don’t be tempted to drop your charge below what you can afford merely to get the work. Tell them your estimate is a reasonable charge based on your true cost of delivering high-quality work that generates rave reviews from previous clients, and be confident in your worth.
Different sources will offer you a profit margin that spans from the single digits to 50%, but when you look at how those statistics are derived, you’ll notice that they typically include overhead charges, owner salaries, and even labour expenditures. It will be easier to distinguish between company costs and business expansion if you keep your profit estimate only focused on business growth. Your own business goals and the location in which you do business are other important considerations. Profit isn’t just about putting more money in your pocket—in order to expand, you must invest in your firm. The way you compute your paint job estimate means that you’ll have cash flow that isn’t automatically designated for essential costs and may be used to develop your business.
The hourly rate of your painters is the most important factor, however there are additional factors to consider when calculating labour costs for painting:
- Remember to account for new construction when calculating paint quantities—add 30 percent more time for priming and sealing walls.
- Also distinguish between interior and exterior painting—interiors might take 2 to 3 times as long as the same outside square footage due to extra prep, detail, and cleaning work.
- You’re probably paying a range of prices depending on your crew’s expertise. Take the time to figure out what your crew’s best blended rate is—and keep in mind that this amount will likely rise on activities that need specialist talents, such as woodworking.
