How to Estimate Residential Electrical Work
Estimating is not an exact science. The goal is to give your customer a reasonable price and make a profit for the work completed. The price will vary based on the square footage of a home and the number of panels needed to run the electrical devices in the home. Take the time to meet with the customer to discuss in detail everything she plans on putting in the house. Make sure what she wants coincides with the prints. Anything additional should be placed in a change-order and signed off by the customer. Does this Spark an idea?
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Things You'll Need
- Measuring tape
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Instructions
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Meet with the general contractor or owner. Make sure everything the owner requests can be done according to the city code ordinances. Code ordinances are important because the job will need to be inspected. If the job is not completed according to code, the job will fail inspection. Ask for a time line the project needs to be completed in. You will need the time line to calculate your labor costs.
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Price the electrical permits from the county permit office. Prices for permits vary from county to county. The permit is needed for the county inspector to come out to the home and approve the wiring. The house will be wired in stages and approved by the county inspector as the job progresses. Add in your hourly rate for the time you spend going to get the permit.
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Price all the material you are responsible for installing according to the prints. Estimate wire installation based on the square footage of the home. Contact different electrical supply vendors and request prices for materials. Comparing prices will save you money. Vendors' prices vary. By purchasing what you need from different vendors, you can save hundreds of dollars on supplies. Price rental equipment using the same technique.
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Calculate labor for installation. Include labor for extras purchased by the customer. Labor can be calculated by the square foot of the home or by the job. According to David Brown, licensed electrician in the state of Georgia, "When you calculate by the job, you break the job down by adding labor into the material price. The labor is connected to each part you install. When you price labor by the square foot, you give a flat fee times the square footage of the home."
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Add permit fee, material fee and equipment fee. Mark up all three based on your overhead. Overhead is what you need monthly to run your business. An average markup is 7 to 15 percent. Add taxes to the bottom line. Include labor if it is not calculated into your material price. Labor is not to be taxed. Total all the numbers and you have your estimate.
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References
Resources
- Photo Credit measuring tape image by Rich Johnson from Fotolia.com
