Construction bid leads are the proverbial dangling carrot; creating excitement among associates and employees alike. Avoid jumping on construction bid leads too quickly though, before you’ve had time to count the costs.
Determining the costs of materials is crucial in the beginning of construction project bids. All components involved must be considered. Forgetting to figure the cost of hinges and hardware on cabinet jobs, for example, can eat away at your profit after construction bidding. Knowing some basics can help small construction bidding companies.
1. Calculate the cost of labor into construction project bids. Bidding for local construction projects allows you to use sub-contractors with which you’re already familiar. Knowing their rates, reputations and readiness makes bidding for construction projects simpler.
2. Factor in “inflation cost” of materials when bidding a job that won’t be started for 6 months or a year. Remember that material costs continue to rise.
3. Add in the cost of extra liability insurance. Bidding on jobs for large companies or corporations requires more liability insurance than small construction bidding companies do.
Construct a construction bidding imageGetting active in the construction bidding arena and bidding on as many jobs as possible gets you in the public eye and establishes you as professional. Jump on in nationally and attract more clients as you find construction bid leads.
Write a constructive construction bidding cover letterPresent yourself professionally. Putting your best foot forward catches attention.
Indicate your efficiency when bidding for construction projectsBeing a good time manager, planning and tracking all aspects of a construction job from bid to bidding farewell will help you win bids and compete successfully with other construction bidding companies.
- Bidding for construction projects successfully requires time, patience and perseverance to accomplish consistently. Find a mentor in your particular field who has been bidding jobs successfully for years and learn all you can.