Companies that offer electrical work be it maintenance or installation, need to provide accurate quotes to their customers in order to get paid fairly. While that process seems straightforward, it can become complicated and challenging if you don’t have the right tools or steps in place.
10 Tips to Give Accurate Quotes for Electrical Tasks
Creating accurate quotes is one of the hardest parts of running any construction business, but you can make this process much easier. Here are 10 times to give more accurate quotes.
1. Create Professional Estimates Using an App
You can create more accurate electrical estimates and invoices with Joist or other invoicing software, as you’ll be able to store and reuse your most used services inside the app. You’ll also be able to send your documents directly to your customers, meaning they’ll sign them faster.
2. Create a Task Checklist
Start by creating a checklist of all the electrical services that need to be completed for the maintenance job. As a rule, you should already have a bunch of templates you can refer to when you’re called for a job. By doing this, you streamline the quote process and the job itself.
3. Include Specific Materials on Your Checklist
Determine the specific materials and tools needed for each task on your checklist to ensure you have everything required for accurate quotes. It’s always better to overestimate the amount of tools or materials you need than underestimate, as a low estimate will cost you big time.
4. Factor in Any Overhead Costs
Factor in any overhead costs that may come up during the maintenance process, such as travel time, labor costs, and additional supplies. Remember that all of these overheads cost money, and while you should pass all of them to your customers, you’ll still need to charge for some.
5. Offer Realistic Time Estimates
Be realistic about your capabilities and the amount of time it will take you to complete each task to avoid underestimating the quote. Once again, it’s better to overestimate here. 72% of all construction projects end up finishing late, so don’t assume you’ll finish right on time.
6. Understand Current Market Prices
Research current market prices to ensure you remain competitive while still providing quality work at a fair price. While it’s tempting to charge much less than competitors to attract new prospects, going too low can make it impossible for you to pay or staff and stay afloat.
7. Account for Changes in Scope
Don’t forget to account for potential changes or unforeseen complications that may arise during electrical maintenance jobs. While industrial automation in your company can help mitigate any costs of an increased scope, it’s better to keep it under control or charge extra for more work.
8. Apply Add-Ons As They’re Requested
Offer optional upgrade suggestions or add-ons for customers looking to improve their electrical systems, so you can help increase your income per job by adding value through upsells. With that said, make sure you include these great add-ons to the invoice as they ask for them.
9. Openly Communicate With Clients
Stay in constant communication with your customers throughout the maintenance process to address any concerns or issues as they arise promptly. If you wait too long to speak with your clients, you could run into hiccups that are either unfixable or take too much time to solve.
10. Review Quotes Before Submitting
Always review quotes carefully before submitting them, double-checking all numbers and ensuring they are accurate down to every cent. It seriously pays to do this for every invoice, even if you use automation software, as one missed item could severely affect your bottom line.
