How to Price an Electrical Job
Making a bid for an electrical job involves many details. It's sometimes easy to overlook necessary costs unless you analyze every aspect of the job very closely. It's not just the labor cost anticipated for the basics; any costs for permits, rental equipment or sub-contractors must also be included. Here are some tips to help you efficiently and correctly price electrical jobs.
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Instructions
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Ensure your customers have good credit and a decent history of making payments. You don't want to make a bid for people who will not eventually pay you for your efforts.
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Examine the expectations of the job. If it doesn't appear that it will be profitable for you in the long run, don't price it. There is no sense in pricing a project that won't make you money. Your bottom line is important. Secondly, be sure you can win the bid, if you make one. If you suspect the customer will be having bigger companies with lower costs bid, bow out gracefully.
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Look at the plans for the job. Ask for the wiring diagrams for the home or business. Compare the diagrams with the actual jobsite by taking a walk-through. Measure various locations throughout the site and compare them with the diagrams. Make mental note of any parts of the job that will make your work more difficult than it should be, such as difficult areas to get into or wiring that doesn't match the diagrams.
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Complete a list of materials and supplies needed for the job. Find prices for these items.
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Figure up the expenses associated with the job. You may need to obtain permits, have inspections or hire sub-contractors for trenching or concrete work.
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Check over your entire bid. Go over it closely enough you are confident you haven't left anything out.
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Put it all together in a professional proposal for your customer. This should include all labor, supplies and details about the job. You'll also need to put an expiration on your bid and specify payment options. Be sure to include specifications about what the job includes and what it doesn't. Give the customer information about the increased costs associated with changing the order mid-way through the job, as well.
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Tips & Warnings
Never price your work too low for fear of not winning a bid.
