Residential Painting How Much Will It Cost?
This video by Eric focuses on how to estimate residential painting jobs. It demonstrates the best way to achieve a 50% gross profit margin and attract good talent. Eric breaks down the estimating equation into four main components: labor cost, material cost, total cost, and markup.
It sounds complicated, but it’s actually pretty simple once you get the hang of it. Determining the labor cost involves estimating how many hours the job will take and how much the workers get per hour. And prep work, siding, and trim are the three main areas to consider when estimating hours.
Once the labor costs are out of the way, it’s time to move on to material costs. The next steps involve looking at things like paint, brushes, and any other supplies needed for the residential painting job. It’s important to calculate the total cost and markup. That’s where things get a bit tricky, and it’s crucial to get it right. Eric says it’s better to overestimate than to underestimate.
When figuring out how many hours a job will take, there are several things to think about. These factors include prep work, body or siding, and trim work. Prep work is the most difficult to estimate. The reason for this is that it varies by location. But siding and trim work depend on the square and linear footage.