The #1 Construction Bidding Mistake Contractors Make
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- Опубліковано 15 кві 2020
- From labor to equipment and fuel, your construction bid includes an accurate estimate of all the related project costs. But, does it account for how you are going to PAY for your employees that are not part of the project labor force, or your other general overhead like rent, office staff, your salary, insurance, debt payments, vehicle payments or other equipment costs?
It better, or the cost of that funding will come straight out of your profit or worse; be more than the profit you estimated to realize in the first place.
In this video, Scott breaks down why using a blanket markup rather than an informed profit margin on your construction bid is the biggest mistake you can make on your next bid.
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100% agree! Reverse engineering is what l do, it starts with what l need as net income and average monthly business expenses. That is the bare minimum of what you need to make, plus income taxes.
Such great insight!! Thanks for teaching this crucial information!
The biggest bidding mistake is bidding in the first place.
Great insight
Thank you for this video
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Great advice, thank you
Thank you so much for your kind words! We're glad we could provide useful advice for you.
I like it. Thank you
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Good afternoon Scott, I'm just finding your channel and it seems really helpful. My questions are: when getting bids on projects, add your monthly overhead (%) to every project? Is this for the developers or contractors to follow? Thank you.
Good stuff
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