Fieldwire

MARCH 5, 2024

To say that winning bids is the key to success in construction is a half-truth. Subcontractors getting awarded a contract spells financial disaster if the bid is too high to be competitive or too low to be profitable. Bidding on projects you have yet to gain experience in can broaden your horizons. On average, remodelers net 4.7%

Budgeting 52

Budgeting Budget Estimating Bidding 52

Rory Woolsey

MAY 31, 2012

“ What are the” appropriate” markups for overhead, profit and contingency when budgeting facilities construction projects?” Beyond this, the installing contractor’s overhead(s) and profit will need to be added. Rory Woolseys Construction Estimating Blog. Construction Estimating One Bite at a Time.

Estimating 40

Estimating Overhead Profitability Remodeling 40

Contractor Bookkeeping

AUGUST 16, 2013

Expenses - Overhead required to maintain business operations. Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting. Item List Bid Bond Deposits. Overhead Allocation To Job Costing. Pay Application Invoicing For Remodel.

Work in Progress 70

Work in Progress Accounting Construction Leases 70

Building Information Management

APRIL 23, 2012

Job Order Contracting – JOC (also known as SABER in the Air Force) is an efficient way of getting the numerous, commonly encountered renovation, repair , remodeling and smaller construction projects done faster and collaboratively under a single contract. Low overhead cost of construction procurement and delivery.

Contract 45

Contract Renovating Bidding Contractors 45

Contractor Bookkeeping

SEPTEMBER 20, 2013

Expenses - Overhead required to maintain business operations. Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting. Example #1 - The contractor asks the bookkeeper "How much money did we make on the John and Mary Doe house remodel?"

Contractors 49

Contractors Accounting Profitability Overhead 49

Construction Marketing Ideas

APRIL 21, 2016

Michael Stone , in taking shots at leads services that purport to offer value by charging a 5 per cent commission on successfully executed leads, writes: You should only pay 3% to 5% total for marketing in remodeling, 1% to 2% for new home construction.

Budgeting 48

Budgeting Budget Overhead Remodeling 48

Construction Cost Estimating

FEBRUARY 7, 2011

Construction cost estimating associates evaluating materials, labor, overhead, subcontractors and equipment needed to complete a project. Overhead Overhead costs such as securing permits, deposits for utilities, job site insurance, connecting utilities, and extraneous expenses (security, framing, etc.) adsense analytic.

Estimating 40

Estimating Construction Overhead Materials 40

Contractor Bookkeeping

FEBRUARY 5, 2014

Expenses - Overhead required to maintain business operations. Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting. Example #1 - The contractor asks the bookkeeper "How much money did we make on the John and Mary Doe house remodel?"

Accounting 49

Accounting Construction Profitability Contractors 49

Rory Woolsey

FEBRUARY 16, 2012

Ed Carrigan asked: “Do you believe there is a savings between JOC program and a bidding process (design-bid-build)?” For multi-trade repair and improvement type projects, Job Order Contracting will win out on a savings analysis over design-bid-build. ” Thanks for the question, Ed.

Estimating 40

Estimating Bidding Negotiation Contract 40

Construction Marketing Ideas

OCTOBER 1, 2015

If these points are valid in the publishing business, you would think they would be equally valid in the architectural, engineering and construction industry — but far too many practitioners are wedded to the concept: “Low bid wins the job” and they race to the bottom in an absurd competitive frenzy. ” Why?

Profitability 48

Profitability Negotiation Overhead Remodeling 48

Levelset

JULY 22, 2022

New businesses can leverage technology, automation, and lower overhead costs to compete with existing businesses. What kinds of jobs are they bidding on? From there, you can track your accounts receivable, accounts payable, and overhead expenses to see your current cash flow. Analyze your competition.

Cash Flow 52

Cash Flow Overhead Accounting Profitability 52

Contractor Bookkeeping

SEPTEMBER 27, 2012

Some Construction Company Owners - Decide their time is more valuable spent meeting prospective clients, putting together bids, managing jobsites and a whole lot of things other than construction bookkeeping. New, remodel, service, residential, commercial? It is not rocket science: How many employees do you have?

Contractors 55

Contractors Office Accounting Overhead 55

Levelset

JULY 18, 2022

What kinds of jobs are they bidding on? To avoid getting caught in the “P” trap (without any profitability), you need to think carefully about overhead. Keep reading: Contractor’s guide to profit and overhead. If your goal is to get more commercial or public jobs, you’ll need someone experienced in writing winning bids.

Cash Flow 52

Cash Flow Accounting Profitability Legal 52

Levelset

JULY 19, 2022

What kinds of jobs are they bidding on? When you’re just doing individual jobs, it’s easy to forget about the cost of doing business — but when you’re running a business, you need to remember that every job you take on needs to cover overhead as well. Keep reading: Contractor’s guide to profit and overhead.

Cash Flow 52

Cash Flow Accounting Profitability Residential 52

Levelset

JULY 15, 2022

What kinds of jobs are they bidding on? When you’re just doing individual electrical jobs, it’s easy to forget about the cost of doing business — but when you’re running a business, you need to remember that every job you take on needs to cover overhead as well. Keep reading: Contractor’s guide to profit and overhead.

Electrical 52

Electrical Cash Flow Accounting Profitability 52

Contractor Bookkeeping

AUGUST 27, 2014

Contractors, home builders, residential and commercial remodeling company owners let us take care of QuickBooks setup for your contracting company because owning and operating your construction company means you need clear and concise Financial Reports, Job Costing and Job Profitability Reports to survive and thrive.

Contractors 91

Contractors Accounting Work in Progress Profitability 91

Contractor Bookkeeping

FEBRUARY 14, 2014

If you are a remodel contractor your core competencies revolve around bidding, proposing, closing deals, getting a deposit, scheduling the work, hiring construction workers and qualified sub-contractors, getting the work done and collecting the balance of your money. Residential Remodel Contractors. Spec Home Builders.

FAQ 50

FAQ Contractors Accounting Security 50