What is an estimating template?
An estimating template, also known as a builders quote template is a form that builders use to lay out projected costs for a construction project and formulate a price. The template helps builders to ensure that they stay consistent in their pricing from one job to the next as well as streamlining the process.
Builders have an awful lot to consider when providing a quote for a project. There are many other trades to consider, the fluctuating cost and availability of materials and the quirks and particular demands of each project. An estimating template serves as a roadmap to help the builder navigate his or her way to the end result – an accurate and competitive quote that is neither over-ambitious or too high. When everything is neatly laid out it is far easier to see the wood for the trees and potentially spot anything that may have been forgotten along the way. Using a template will save time, eradicate errors and allow for more time to be spent on the actual construction work.
Whether the job at hand is a full-blown extension or, as is so commonly the place these days, a loft conversion, the builders quote template will streamline workflow, boost efficiency, encourage clear and transparent communication with the client and create trust moving forward. Not only does the template help organise the details of the job for the builder it is also the blueprint for a healthy trust-based relationship with the client.
In terms of streamlining project costs, the use of a template ensures that the builder has a clear plan from day one and focuses the mind on not only sticking to a projected budget, but on precisely how to do that based on the itemised breakdown in the template. Once the template has been used for several jobs it is amazing how useful it will be to look back on previous projects when it comes to quoting for new jobs.
A loft conversion in a 3-bed semi-detached property can be compared like for like with another and while there will inevitably be some distinctions, the blueprint is there and can be tweaked as necessary.
The time-saving benefits of using an estimating template cannot be overstated. Imagine starting from the beginning every time you want to quote for a job? Filling in the blanks of a template and cross-referencing other completed templates will allow you to quote quicker, thus putting you ahead of the competition. A template also reduces the risk of potentially costly human error. The last thing you want is to under-quote, having forgotten a vital part of the project. This can lead to some very awkward conversations down the line.
Finally, in terms of some tips for the template, keeping it professional, clear and simple is key. Utilising a template in SMM7 format – the RICS published industry standard – will ensure the use of clear, consistent language across all the builder’s jobs past, present and future.