Costing jobs?

[Sharpend]

Does anyone use a SPONS electrical pricing guide book for costing the larger jobs? Or any alternative guide book for that matter?
I have recently been offered some larger contracts which will involve a team of labour as opposed to just myself, so was looking for some quicker pricing methods. I have made a basic Excel spreadsheet for costing labour but it’s a little laborious for materials, was hoping for a guide book that offers realistic pricing methods.

 

[binky]

Last time I looked at anything like that it wasn't very clever. Do factor in payment times, I usually work out a price and add 30% because large jobs seldom pay promptly. Also get staged payments that cover hired labour and materials, and work on the basis the 'staff' work at about 60% of what you can achieve in a day.

 

[Murdoch]

What payment terms are being offered? 30 days? End of month plus 30 days? 60 days?

cash flow, or lack of it could drive you out of business

 

[Sharpend]

From invoice 7days! And it’s working well so far.

 

[Sharpend]

@binky do you find the 30% workable in it doesn’t overprice you?

 

[Murdoch]

From invoice 7days! And it’s working well so far.

That’s a good sign

 

[binky]

@binky do you find the 30% workable in it doesn’t overprice you?

If they are paying in 7days, then that is probably unnecessary, but I've never found I've lost work because of doing that. Do think about what happens if the last invoice doesn't get paid, how much are you likely to be left out of pocket, and try to make sure that you can build up enough funds to cover that scenario long before the contracts are likely to end, coz that's when your customer is most likely to run out of money.