I am General Contractor for over 20 years. I found this year very slow. I had to lower my prices twice and still not enough.
Anybody can help?
Recent statistics show that for an average size full bathroom renovation with mid-range finishes and professional labour the cost will be approximately $15,000 to $18,000 plus HST. This has been my experience in preparing quotations and completing bathroom renovations.
First off -The price is not always the most important thing. You need to qualify your potential customers before bidding. Customers who are only looking for the cheapest price are probably not your kind of customer in the first place. You need to qualify them first by asking a few questions like - Do you have a budget for this? We have done several like these and they usually are around - Give them an average price. What is your biggest fear before doing this reno - is it quality or price? You should read this magazine Canadian Contractor, they have alot of good articles on how to grow your business and not spin your wheels all the time.
I recently won a bid on a renovation that sold for 130,000.00 and I was the highest of 3 guys who quoted it. I was 30,000 higher than the lowest quote. And I am not a pushy salesman type. The customer told me 'You are a great guide in the process, you are easy to get along with and a great communicator'.
So Alex learn to be personal and find ways to help your customer, Build TRUST in yourself and your company, INTEREST in the project they are doing, and last give them a MOTIVE to buy. Most of the time if you take care of the first 2 that is enough motive for the right people.
It really depends on the project, as is already mentioned. The size of the room, quality of the fixtures and material, condition of the existing structure,and your estimating for time. I've done smaller jobs for $5000 at a cabin, and estimated projects at $12,000 with a very important attachment that "This is an estimate only" and tyhat prices may vary depending or ... . I also, try to provide a potential over and above cost just to make sure they understand there is a high end to consider. I also try to get a figure from the client and work back from there. If they say $3000 - $5000, you know your limits.
Again, I can only emphasize that you should be fair but also make a living without going "cheap". FYI, I am never the "cheapest" kid on the block. I value my workmanship.
It is a issue in our industry...feast or famine! When times are slow...a typical bath reno is $15-20,000. To be honest they cost me from $7-8,000 to do right with actual tradesmen so I do not even see how you are making any money? Maybe time to sub for someone for awhile until market in your area goes up?
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