You’d think painting a house would actually be the toughest part of your job. However, figuring out how much you should charge your client is often a much more exhausting task. There is just so much to account for that there is no easy way to do it. Still, we can make the whole thing a bit more comprehensive with our guide on how to estimate a painting job!
Know exactly what you are working on
The first step of your journey to learning how to estimate a painting job is internalizing that you always need to know exactly how much and what kind of surface you will be working on. As you learn more about how to run a painting business, you will be able to easily estimate the surface area of the room you are working on. However, this ability will not come easily or quickly. Until you master it, you are down to good old measuring tape and putting in the necessary work. Do not just pay attention to square footage, either. Obstacles such as painting around window or door frames, the material of the walls, and the previously mentioned fixtures all matter.
Account for the price of materials
Naturally, you will need a lot of materials to successfully pull off a job. Some of the most important are:
- Painter’s tape
- Scrapers and sandpaper
- Paint trays
Some of them can last you a few jobs depending on how much of it you use. And some you will need to tailor to each job, such as paint. This means that if you do not have any in stock or make your owl, you will need to go out of your way to acquire them. This is also one of the most important things to account for when trying to bid on commercial painting jobs.
Estimate your overhead costs
Overhead costs are all the costs associated with actually running your business. This covers any equipment you may be using, such as paint brushes, rollers, and similar. It also includes more permanent aspects of your business such as office space, transportation vehicles, communication devices, etc. It also refers to marketing costs, similar investments, and insurance. Overhead costs can even apply to dealing with moving companies if you require assistance getting all your gear and supplies to the homes you are working on. The moving experts from evolutionmovingdfw.com recommend forming a long-term partnership in cases such as these since it will likely be cheaper. You need to note that, since none of these costs apply to any particular job, you need to spread them out to various jobs you have throughout the year. Which is admittedly tricky.
Figure out your labor costs
When first learning how to estimate a painting job, one of the hardest decisions to settle on is labor costs. The good news is that you will likely not have to start by figuring out how much you should be charging your crew’s wages. What’s tricky about it is that you need to settle on an hourly rate for your team. This depends largely on their experience, the number of jobs you have to do during the period, and the estimated time it will take you to do the job. Note that you should always give yourself some leeway since you may need more time than you’d thought. There should also be a differentiation between painting the inside and the outside of a home since the latter is significantly harder.
Decide on your profit margin
The final step in your journey to estimate a painting job is deciding on your markup. The ‘markup’ is the difference between what it costs you to do a painting job and your profit. In other words, your profit margin! Now, you need to be very careful with your balancing act here. Obviously, everyone loves turning a profit. However, if you overcharge your clients, you will eventually lose competitiveness in the market. On the other hand, if you start out with low prices to grow your business’ popularity quickly, you will suffer a lot of backlash once you decide to up them. An easy way to justify a slightly higher price is by making sure your services are impeccable. This does mean you will need to work on every aspect of your business, including learning how to improve customer service.
A final comment on how to estimate a painting job
With our guide on how to estimate a painting job, you should slowly be able to figure things out. It will take a while, and until you get into the swing of things, each job will be a challenge in many ways. However, we are sure you can find your footing and eventually thrive!