The electrical estimating process begins with knowing what your business costs are. Consider what your strength, size, and experience are and use a formulated cost calculator to know your real business cost to determine your true minimum sell rate.
It is essential that you know all costs including direct and indirect expenses before you offer a quote or tender. The electrical estimating process can be unforgiving due to the high costs of labour and material. When estimating costs, time is usually limited, and accuracy is essential.
Juggling labour rates and materials, especially when working on multiple quotes and tenders can lead to errors and miscalculations. You don’t want this to result in offering too low of a quote or tender and end up risking profits:
6 Easy Steps to Fast, Accurate Estimates, Increased Profits, and More Time to Enjoy Life:
- The first step is to do a tender enquiry appraisal such as using a checklist to analyse tender requests, and decide whether or not a tender opportunity is a good fit for your business.
- The second step is to check for contract terms which are unfair or impossible to comply with if not sure get legal advice.
- The third step in avoiding lost profit begins with accurately calculating your true labour costs and knowing what your true business minimum sell rate is at the time of quotation and tendering, covering all overheads such as staff and operating costs.
- The fourth step is to do your take-offs accurately with the assistance of on-screen take-off software eliminating printing and filing costs or if you wish manual take-offs.
- The fifth step never submit a tender unless you fully understand and accept the terms of the proposed contract.
- And finally, to help make the estimating process a little less daunting, ESTILEC 360 software application can help. This software application helps electrical contractors estimate profitable projects quickly and efficiently so that they choose projects that are worth their while.
What are the benefits of implementing ESTILEC 360 Electrical Estimating Software Application?
It streamlines the process of recording and calculating costs, saving time and money:
- LABOUR COST AND SELL RATES (ESTILEC 360 LINKED) CALCULATOR
- SUMMARY QUOTATION (ESTILEC 360 LINKED) ADJUSTMENT PAGE
- CUSTOM PROJECT BREAK-UP DEPICTING EACH SEGMENT WITH TOTAL MATERIAL COST AND TOTAL LABOUR HOURS FOR THE ESTIMATE SUMMARY PAGE
- EASILY IMPORT TAKEOFFS INTO ESTILEC 360
- POPULATED DATABASES (ESTILEC 360 LINKED) MATERIAL LIBRARIES AND LABOUR UNIT HOURS
- WORD DOCUMENT (ESTILEC 360 LINKED TRANSFERRING DESCRIPTION AND QUANTITIES) SUPPLIER REQUEST FOR QUOTATION TEMPLATES
- WORD DOCUMENT (ESTILEC 360 LINKED TRANSFERRING CUSTOM PROJECT DESCRIPTION WITH PRICE BREAK-UP) CUSTOMER QUOTE/TENDER LETTER TEMPLATE
- AND MORE
ESTILEC 360 Software Application quantifies all your material and labour costs and pushes everything into a summary adjustment page to finalize your mark-ups, labour efficiency rate and estimated gross margin, saving you hours of estimating time.
Three day Online Training (Virtual Classroom) Course CLICK THIS LINK TO REGISTER AND SAVE YOUR SPOT NOW With Electrogroup a Registered Training Organisation RTO who will organise your enrolment and training access
This course provides:
- FREE Access to PDF Screen Take-off Software
- FREE Access to ESTILEC 360 Electrical Estimating Software Application.