When you’re in the construction industry you need to win bids to earn money and creating bids, or tenders, is often the bane of every small builder. You can’t go too low or you’ll undercut yourself, or you won’t be accepted because they’ll think you’re too cheap. Set your bid too high and they won’t even consider you. So, how do you know what the right amount to tender is? Well, here we will look at what some of the important parts to a bid are and how bidding software for construction can help.
Understanding the project
Well before you submit a bid you must understand what the project involves, any special needs (e.g., sustainability), the start date, expected timeline, and anything else relevant to the project. This is usually found in the bid package. From this information you need to be able to decide whether you can do the job, whether it is feasible or not, and you can also glean a very rough cost estimate. By using bidding software for construction, you can enter the details of the project, upload blueprints, and the software will use your pre-existing information, such as similar jobs you have completed in the past, to determine the projects feasibility. Once you have decided that it is a job you can do and is worthwhile, then you can move on to the estimating side of creating a bid.
Cost estimating
This is often the most dreaded part of the bid for many builders, producing a quantity take-off. It can be time consuming, yet it is a critical step. However, for those that use bidding software for construction, they can produce a quantity take-off 80% quicker than those who don’t use the software. Your estimate will include all costs, including indirect costs, consider price fluctuations future dates, your profit margin, and it will explain who will be liable for other unforeseen costs. Once you have your estimate completed, its time to put together your bid.
Final bid
Amongst the information in the bid package you will usually find a section on how your bid is to be returned and when. It is important that you follow these instructions precisely, as it is their first glimpse into you. Not only do you want them to see your total price, but you want them to see your professionalism, samples of your work, reviews from past customers, your licenses, and why they should choose you. With bidding software for construction, like the Buildxact version, you can personalize your paperwork and produce quality bids quickly, and easily. You can try their 14-day free trial or book a demo to see how Buildxact can give you back your spare time.
When you use bidding software for construction you can produce accurate, professional, and personalized bids that will win more work for you. Get bids made up 80% quicker than by hand and more accurately. Contact Buildxact today and get more work by winning bids with bidding software for construction.