Pricing big jobs, new builds and renovations etc

[Plucky]

Just after a bit of advice from others in the know.

Been running my firm for about 3 years now and everything is going great. Lots of work and no problems pricing up boiler swaps and bathrooms etc.

This coming year I have picked up work for two property developers who build and renovate big houses (5/6 beds rooms) the first one I am doing on a day rate but they want me to price the next lot.

I wondered if anyone had any advice for pricing big work with a lot of unknowns. In a big firm it's easier as it doesn't matter as much if open job runs at break even. But for me with just two of us it could be the difference between a mortgage being paid or not.

One idea was to overprice to cover myself but then there is the chance of pricing myself out of the work even though I know they are not looking elsewhere for prices but if they think I am taking the **** they will.

Cheers guys

 

[SimonG]

Well you are half way there with the first one on day rate. Keep track of what you are expending, time and materials and use that as your basis for future larger contracts.

 

[theanalyst]

Always go higher rather than lower is my experience if your unsure what lies ahead. Its never usually straightforward..
I'm sure this analogy has cost me jobs but it's also made me money and then its also saved my bum from losing out ££ on a job.

At the end of the day I do this to make money. If I'm not going to make money I don't want the work!! simples

 

[Barry98]

Get money for you materials before you start