- 1). Determine the entire scope of the project at hand. To do this properly, you need to meet with the client. Go over the project specifications at the site with him and then sit down for a talk. Discuss not only the actual project but also discus his future remodeling plans. Does he want the new project to match existing structures? Or is he going for a new look? Discuss methods and materials and alternatives for each. Record all of the client's preferences on paper with the job specifications. Schedule another meeting.
- 2). Make a materials list. Review the meeting notes and job specs and list every item that you will need. Lumber, nails, caulk, joist hangers and rags are just a few of the materials you will need. Do not forget to include a list of equipment required as well as any equipment you will need to rent for the project. Determine what materials you will need along with the amount of each material, including rental equipment.
- 3). Determine material, rental and delivery price. Go online and look up your favorite hardware store. All of the large chains, and many mom-and-pop stores, have a website that lists price and availability. You can also find delivery and rental prices here. Record the price of each item and a total price on your bid sheet with the job specs and material list. Write down each expense. Contact the customer if there is a problem with availability so that the two of you can discuss an alternative.
- 4). Determine labor cost. There is a complicated method of figuring labor cost for a project. Determine the number of workers needed, their jobs, their pay and the number of days they will be on the project. This method depends a lot on guessing how fast each worker will do his job. A good rule of thumb is to multiply the total material cost (including delivery and rentals) by 1 1/2 to get labor cost. This will give you ample money to pay for workers, insurance and licensing while maintaining a profit.
- 5). Submit your bid to the client. Meet with the customer and discuss every aspect of the estimate. Make changes where necessary and allow the client to keep a copy of the completed estimate for comparison and review at his leisure. Now just go home, start on your next project estimate and wait for the call to begin construction on this project.
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