Free Construction Estimating Spreadsheet Template – Estimation and quotation models. There are two ways for businesses to provide pricing to potential customers : estimates and quotes. These two costing documents then guide the final price included in The Associated Professional estimate. Many companies, especially those in the construction sector, provide detailed estimates based on the specific needs of the customer rather than offering a flat rate that applies to all customers.
According to data from the financial information company Sageworks, construction companies dominate the top 10 fastest growing sectors in the United States. In such a fast-growing sector, it is vital to be in possession of effective means to provide potential customers with the costs of their construction projects. This guide provides useful information on the differences between estimates and estimates, the reasons for their use, the elements to be included, and the advantages and disadvantages of using estimated software. At the end of the guide, we offer free estimation templates to help you get started. These documents can be downloaded, modified to fit your business needs and printed.
What are estimates and estimates ?
It is often wrongly believed that estimates and estimates correspond to the same thing. The terms “estimate” and “estimate” are often used interchangeably but, according to YourTradeBase, a number of elements differentiate them.
Gives an indication of the expected costs based on the limited information available on the project
May also include the project schedule, proposed delivery date, your terms and conditions, and a schedule
Useful if you are not able to guarantee the cost of materials or if the scope of the project is not yet confirmed
Not legally binding
This is an exact cipher for the proposed work, which cannot be modified once accepted by the client. The final invoice and associated costs will match the initial estimate provided to the client
Includes more details related to project terms and conditions
Due to possible fluctuations in material costs, a quotation is only valid for a limited period of time, after which the quotation expires.
Often preferred by customers, who will know what to expect in terms of costs, deadlines and materials
This is a legally binding contract between you and the customer
Free Construction Estimating Spreadsheet Template
Why provide written estimates or estimates ?
You do not necessarily make an error by making a verbal estimate or estimate, and there is no legal requirement to have a written document. However, this has certain advantages. :
Resolve misunderstandings or disputes : in the event of an unfortunate dispute between you and your client, a detailed quote would provide useful evidence for the mediation process. Any verbal agreement is not only difficult to prove but can also be a source of additional anxiety, which would have been avoided through written correspondence.
Show great professionalism: if you want to be taken seriously and put all the chances on your side when you make an offer for a construction project, it is better to make a written estimate. Put yourself in the position of a potential customer. Would you choose a service provider who has only provided an estimate by telephone, or would you choose a company that has provided you with a written professional document ? It’s obvious.
Use a standardized document: with a predetermined estimation model, adjust costs, time and materials according to the specific needs of the customer, and save a lot of Work From A to Z with each new work request. It will save you time, Administration and consistency.
Maintaining accurate records: when activity explodes, losing track of clients and the progress of each project is a risk. Keeping copies of documents may not be the most exciting part of running a business, but it will pay off when you are asked about a particular project that was completed months ago.
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