Just joined up and I'm kinda disappointed in myself for not finding this site sooner. Anyways my question is about job pricing. See, my main focus has always been cabinetry but I've been approached to do a finishing project. A fairly large one that I couldn't pass up, but my only problem is I don't know how to price it.
I've done finishing in the past by the hour but I'm not a big fan of charging hourly rates. So I'm kind of looking for somebody who can give me a run down on how to price large custom homes. Everything from trim to crown to custom entry ways. I have some ideas of how to price some of it but I would really appreciate a veterans advice.
I have been a contractor for 29 years and here is a few ideas. First price out material, add 10 percent for anything you forget, figure an hourly rate to hire the best help to replace you, ($35 to $40/hr) times this by hours to do job, times by 1.25 for extra, times by overhead(1.1 or 1.2), and times by profit of 1.12. If this number seems reasonable put in quote. Then when you win one of these track numbers exactly. What was material, what was hours?. If you like final number divide by what you did and you have your price per job done. Repeat and check and modify forever.
Hope that helps.
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