How to Bid Electrical Jobs by Square Foot

If you are going to bid on Electrical Jobs, there are many methods that you can implement. But bidding an electrical job by square foot method is by far the most accurate one. Other methods, such as estimation requirements, can be a comprehensive approach, but it is not as precise as the square foot method.

To bid electrical jobs, most clients prefer the square foot method. As it provides a precise and to-the-point cost to them. This article will help you understand how to estimate an electrical job by using a square foot approach.

Process of Bidding Electrical Jobs by Square Foot Method

In the process of bidding on an electrical job, you have to account for the following points, and you cannot go wrong with the Bidding Estimate. When it comes to bidding on electrical jobs, they are thoroughly organized and ensure positive results on any type of electrical estimate.

1) What is the total area of the project?

First, you have to know the total area of the project. This must be done before you start to bid electrical jobs. This is important because if the total area increases, it will directly impact the square feet of the land. In other words, the more land area there is, the cheaper your bid will be. The most basic formula that you can use to estimate electrical cost per square foot is:

Per square foot cost = (Total Cost - Land Cost) ÷ Area of the Building

This formula will help you understand more clearly. If you are working with a larger area, then the per square foot cost will likely be lower. Conversely, if you are bidding for an electrical job where the land area is small, the cost will be higher.

2) Communicate with the client to know what Electrical Work they want

You have to know what type of Electrical Estimating Services a client wants. This is important for you to create accurate per-square-foot electrical estimates. Here are the most common types of electrical estimates included in a bid:

• Length of Wire Estimates

• Load Estimates

• Equipment Estimates

• Energy Estimates

• Voltage Drop Estimates

• Transformer Size Estimates

• Lighting Estimates

• Cable Size Estimates

• Power Consumption Estimates

Now you know the most common types of estimates done in an electrical bid. You need to know what a client wants, as the per-square-foot price is different for each type. Let's have a look at how the per-square-foot cost is estimated in the load estimation process:

Distribution of load = 210 pound ÷ 20 square foot = 10.5 pounds per square foot

On the other hand, we have to estimate based on the Wire. We have to consider the length of the wire and its cost per square foot. The following formula is for wire estimation:

Wiring per square foot = Total Wire Length ÷ Total Area

From the above discussion, it is clear that each type has its own formula to calculate per square foot to bid on electrical jobs. So each of the types requires different efforts and time as well. Thus, it is important to know beforehand what type of estimation is required.

3) Figure out your operational expenses and profitability

To bid for electrical jobs is all about profit margins. That is why you need to consider all your operational costs that occurred during the process. You have provided your expertise and assured that a client gets what he has asked for. So, make sure that you have accounted for all the costs that you incurred during the bidding process.

You have to consider how much time it will take to complete the project. Also, the complexity level of the project. Lastly, you also have to account for the effort in achieving accurate estimates for the electrical bidding process.

4) Scout the market

If you are wondering why you need to scout the market to bid for electrical jobs. Here's the reason why:

Your bid must be detailed and balanced. Also, you will have a clear understanding of the materials cost for your Construction Takeoff Services. This can only be done by exploring the market. If your bid is too high, a client might reject your proposal. On the contrary, if the bid is priced lower than a client might think that your services might be cheap and not be to the mark. That is why surveying the market will help you find the optimal balance. By doing this, you will have a long understanding of how much a project costs.

5) How much Time is consumed for the Bidding?

The more time you spend on hiding electrical jobs and on estimates, the higher the bid price. This shows that time is directly proportional to the price of a bid. However, this time refers to the actual time as per the square foot. If you are in the estimates of physical work, that will not be added to the bid or estimates.

Closing Remarks 

Wrapping it all up, when you have to bid on electrical jobs, there is a lot to deal with. You have to make sure that you are prepared and organised in terms of handling any size of project. You can manage any scale of project by following this article. It discusses the process of bidding electrical jobs in detail. Thus, covering each aspect and making sure that your bid acceptance chances are increased with maximum profit margins.