Sounds like you should multiply your cost by 1.25-1.5 & you need to multiply your cost by 2 to get a 50% profit margin, what you calculated is a 33.33% profit margin
A better way to calculate your margin is to divide the cost. If you want 50% margin then divide .38 by .5 and you would have a true 50% mark up of .76 per square foot.
I agree. This is a very easy-to-understand presentation. I have painted for a long time but have just now switched from eyeballing to sq. footage. I'm anxious to see how it goes. Thanks!
Thanks David! This is basically for commercial only and I would advise against substrate pricing for residential. I prefer time + material + add profit for residential work. Thanks for watching!
@@TheEasiestBusiness Actually I am bidding a police station with quite a lot of square footage. Is your formula okay for that? Need to turn it in tomorrow. Thanks.
@@davidd.perata2085 dude. UA-cam refuses to send me notifications about replies to my response. It frustrates me. Hope you got it handled. My formula is good for the walls, just make sure to input your costs as they’ll differ from my made up numbers
I tried and tried running numbers and finally had to resort to materials + labor + profit and guessed as best I could with a combination of experience and the numbers as best I could. Turned in the bid but haven't heard. Tree others bidding.
Important, 1 gallon 400 square ft at 3 mil application! Also factor in how much cutting is involved this usually messed up profit gain in a standard of 10 cent per square ft 1 coat ,ALWAYS OVER BID A I DONT WANT TOO DO IT JOB, WORSE CASE SCENARIO THEY AGREE TO AN OUTRAGEOUS QOUTE AND MONEY WILL MOTIVATE you❤
Dana, Thanks for the comment. This formula would work for ceilings as well. If you know “time” it takes to spray your ceilings, and the amount of material you’d need to complete the ceilings, then you can get a price per SF. 1 room = 2 hours of labor @ $25/hr plus 1 gallon at $25 a gallon = $75 total in cost. Your cost price for a 200 SF ceiling would be $0.37 / sf because $75 divided by 200 is .37. If you want to make a 50% margin you need to be charging $0.74 / sf for ceilings. This is just an example you have to figure out the specific numbers for you and your company. Hope this helps!
You could divide insurance by taking the monthly payment and add it equally into every job. If insurance is $500 a month and you average 5 jobs a month add $100 on each. You could add 10% to each job as a tool allowance or whatever. However you want to do it!
Drywall? Hard for me to say without knowing your material costs, labor costs, and how fast you can do it. Lift included? There are too many factors to quote it accurately without knowing all the info.
@@TheEasiestBusiness yes drywall 8ft tall office hallways, building owner is paying for primer and paint and requested 1 coat primer 2 coats of paint. I have a crew of 3 guys available
@@leyvaalonso38what did you charge? I just did fast math to quickly figure this out- take total sqft and divide by single sheet of drywall (12 foot piece is 48 sqft) so you’ll need about 780 sheets of rock multiply that by whatever it costs per sheet in your town and then add another couple grand for mud paper etc then times that final number by two. That second portion is ya labor. Thank me later.
Taylor, This was just an example. You should tailor the numbers to your business specifically. This isn’t necessarily what I would charge. The focus is more on HOW to get there. Thanks for watching!
I own and operate a fairly large painting outfit (7 digits), and I recommend you X 2 those costs as opposed to multiplying by 1.5 if you want to survive long term, or do what you can to get there. A 50% gross profit margin is you spend a dollar but charged $2. You just described a 33% profit margin. Feel free to dm me if you have any basic questions. Wish you luck in your business.
I have three builders all Separate companies that will Be throwing me work so I need a crash course this is mint I will Be checking out your website wish you lived Near Philly I’d throw you work and sub you with me lol
Haha I appreciate the sentiment but I’m not on the tools much anymore. I’m still teaching my blueprint reading course personally at the moment. Once I get to about 50 hours of coaching content I’m going to stop teaching it. I’m at about 25-30 right now.
So you charge people per square feet but a window takes up 50 percent of the wall ,you charge to paint something you dont paint because it takes to much time to measure a window and subtract 😂😂😂😂
This advice is hypocritical, usally the case when quoting and paying lowest labor as possible without doing the job yourself, MATERIAL IS ALWAYS PAID BY THE CUSTOMER WITH A 30 PERCENT MARK UP to cover busy work !
Sounds like you should multiply your cost by 1.25-1.5 & you need to multiply your cost by 2 to get a 50% profit margin, what you calculated is a 33.33% profit margin
yes, i made a mistake in this video. I addressed and did it correctly in the follow up video i posted with a similar title to this one.
wall $1.50 s/f no prim include paint and material
A better way to calculate your margin is to divide the cost. If you want 50% margin then divide .38 by .5 and you would have a true 50% mark up of .76 per square foot.
I agree. This is a very easy-to-understand presentation. I have painted for a long time but have just now switched from eyeballing to sq. footage. I'm anxious to see how it goes. Thanks!
Thanks David! This is basically for commercial only and I would advise against substrate pricing for residential. I prefer time + material + add profit for residential work. Thanks for watching!
@@TheEasiestBusiness Actually I am bidding a police station with quite a lot of square footage. Is your formula okay for that? Need to turn it in tomorrow. Thanks.
@@davidd.perata2085 dude. UA-cam refuses to send me notifications about replies to my response. It frustrates me. Hope you got it handled. My formula is good for the walls, just make sure to input your costs as they’ll differ from my made up numbers
Great explanation.
Broooo I neeeed this!!!
That was awesome dude I appreciate it
Thank you sir! 🫡
Brilliant representation man,I will connect with you,thank you
Thank you brother. That means a lot!
Very nice presentation and you seem EXTREMELY smart and confident keep up the good work if you were my son I would be proud !!
Wow, thank you Dathan!
I tried and tried running numbers and finally had to resort to materials + labor + profit and guessed as best I could with a combination of experience and the numbers as best I could. Turned in the bid but haven't heard. Tree others bidding.
Important, 1 gallon 400 square ft at 3 mil application! Also factor in how much cutting is involved this usually messed up profit gain in a standard of 10 cent per square ft 1 coat ,ALWAYS OVER BID A I DONT WANT TOO DO IT JOB, WORSE CASE SCENARIO THEY AGREE TO AN OUTRAGEOUS QOUTE AND MONEY WILL MOTIVATE you❤
What about for fire lane curbs?
I would do them by a unit figure price ($200 each, etc) or have a linear footage price for them!
What about ceilings? I looking for what it may cost to spray the interior of the house. Literally Floor up.
Dana,
Thanks for the comment. This formula would work for ceilings as well. If you know “time” it takes to spray your ceilings, and the amount of material you’d need to complete the ceilings, then you can get a price per SF. 1 room = 2 hours of labor @ $25/hr plus 1 gallon at $25 a gallon = $75 total in cost. Your cost price for a 200 SF ceiling would be $0.37 / sf because $75 divided by 200 is .37. If you want to make a 50% margin you need to be charging $0.74 / sf for ceilings. This is just an example you have to figure out the specific numbers for you and your company. Hope this helps!
How do you figure in protection cost and ladders etc
You could divide insurance by taking the monthly payment and add it equally into every job. If insurance is $500 a month and you average 5 jobs a month add $100 on each. You could add 10% to each job as a tool allowance or whatever. However you want to do it!
What would be a rough estimate for a commercial building with a wall sq ft of 38,000 be ?
Drywall?
Hard for me to say without knowing your material costs, labor costs, and how fast you can do it. Lift included? There are too many factors to quote it accurately without knowing all the info.
@@TheEasiestBusiness yes drywall 8ft tall office hallways, building owner is paying for primer and paint and requested 1 coat primer 2 coats of paint. I have a crew of 3 guys available
@@leyvaalonso38what did you charge? I just did fast math to quickly figure this out- take total sqft and divide by single sheet of drywall (12 foot piece is 48 sqft) so you’ll need about 780 sheets of rock multiply that by whatever it costs per sheet in your town and then add another couple grand for mud paper etc then times that final number by two. That second portion is ya labor. Thank me later.
Where are you located?
South Alabama!
Great day, i am very interested in learning more about bidding on commercial and government property
I’d be more than happy to help you out in anyway that I can. Just let me know!
I feel like those totals are very very low. How do you make money charging that????
Taylor,
This was just an example. You should tailor the numbers to your business specifically. This isn’t necessarily what I would charge. The focus is more on HOW to get there. Thanks for watching!
I own and operate a fairly large painting outfit (7 digits), and I recommend you X 2 those costs as opposed to multiplying by 1.5 if you want to survive long term, or do what you can to get there. A 50% gross profit margin is you spend a dollar but charged $2. You just described a 33% profit margin. Feel free to dm me if you have any basic questions. Wish you luck in your business.
🤦♂️🤦♂️🤦♂️🤦♂️😂😂😂😂😂
@@krayziefresh I would like your help please
@@clickersorising4601 I'd say to PM me but I don't know if UA-cam has that option. What you need help with
I have three builders all
Separate companies that will
Be throwing me work so I need a crash course this is mint I will
Be checking out your website wish you lived
Near Philly I’d throw you work and sub you with me lol
Haha I appreciate the sentiment but I’m not on the tools much anymore. I’m still teaching my blueprint reading course personally at the moment. Once I get to about 50 hours of coaching content I’m going to stop teaching it. I’m at about 25-30 right now.
This is 30% profit...not 50% profit. 50%profit is total cost of the job x2
yes, its 50% mark up 33% margins. i misspoke in the video but changed it in the follow up video with a similar title. thanks for commenting!
Calculator lol im offended
I’m from Alabama I need it 😂
So you charge people per square feet but a window takes up 50 percent of the wall ,you charge to paint something you dont paint because it takes to much time to measure a window and subtract 😂😂😂😂
Just telling you how it works in commercial production. Do with that what you will.
This advice is hypocritical, usally the case when quoting and paying lowest labor as possible without doing the job yourself, MATERIAL IS ALWAYS PAID BY THE CUSTOMER WITH A 30 PERCENT MARK UP to cover busy work !
Never did I say the contractor should eat the cost of materials. lol