Do you know what to do when estimating a roofing job? It may not be easy to balance offering competitive prices and not undervaluing your services.
Like any other business endeavor, you want to provide the best service possible while earning good pay. When it comes to the cost of roofing work, you want to offer them an accurate estimate, be open about pricing and labor costs, and keep them updated on any changes in material prices throughout the roofing process.
If you want to enhance your profit margins and avoid underbidding yourself of roofing jobs, continue reading to understand the things you need to consider in estimating a roofing job properly.
6 Things To Consider In Estimating A Roofing Job
1. The Scope Of Work
A quote is required before submitting a roofing job.
First, evaluate the work scope. To do so, you must follow a few rules when estimating roofing works. Ascertain the client's requirements. Is it a few shingles or anything bigger?
Then go to the site location and see for yourself.
Specify what has to be done. After evaluating the client's needs, survey and measure the roof to prevent utilizing prohibited materials.
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2. The Measurements
Note the roof's measurements and the required shingle square size while measuring. Find the roof pitch and any sloping edges. It should include both flat and sloping roofs when bidding.
Inflatable roofs are measured from the ground. The amount of 100 square foot sections to cover is determined by the home's size. One square has three shingle bundles.
The pitch of a roof determines its slope. A 90-degree angle roof inspection is required. So, a 5:12 pitch to slope ratio is a 12:5 rise. A flat roof needs 25% more tiles.
Round up the number of shingle bundles to stay within budget and not spend more than you make.
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3. The Cost of Materials
Prices for materials are likely the most difficult to analyze. Optional materials include stone-coated steel, rubber, and even shingles with plants.
Before giving a client an estimate, ask about their preferred material (or style). This is necessary to guarantee the supplier has enough material for the job and to receive the best pricing estimate.
Tools, nails, screws, underlayment, flashing, and vents are all included in material prices.
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4. The Cost of Labor
Now that you know your material prices, you need to know your labor expenses. This is simple to perform, and the price procedure is uncomplicated. To estimate labor hours, first, estimate how long the project will take and multiply it by the number of workers.
You'll need to include your hourly cost in your pay, probable worker's compensation, and taxes. Multiplying these two values yields your labor estimate. Remember that hourly salaries vary by state, so keep your prices competitive if your firm crosses state boundaries.
5. The Overhead Costs
Overhead expenditures include office rent, clothing, insurance, roofing tools, and accountancy. To earn a profit on roofing work, you must account for these (and other) overheads.
Calculate your weekly overhead costs and weekly labor hours. Split the hours by overhead expenditures to obtain an hourly figure, and multiply that by the number of work hours.
6. The Profit Goal
To put it simply, desired profits refer to how much you hope to earn from your profession. Markup is the percentage added to your estimate to guarantee a profit. The formula is Profit/Cost*100, with an average industry markup of 6%.