While buying a product the purchaser keeps an estimated amount in mind but this is not applied to a job service where you are asked to estimate the amount you ask for the service. This is a tactful feature because if you demand a high price you might lose your work and contrarily if you go for a very lore estimate then there will be no profit for you in the service.
- Determine and fix the labor cost as this much rate per hour or this much rate per service. Secondly how much material is needed and what will be the estimated cost of each material used in the work.
- Determine the percentage profit you need to take from the cost of labor and material
- Create a document in categories in which you have to enlist all the services material and estimated cost accurately.
- For hand written list choose letterhead with your business title or logo with contacts.
- Fix an expiry date of the estimated cost to let your client know the duration of the contract this is because with time all the related cost will change and labors are not ready to work in low price.
- List the date and take signature from the client also
- Give the copy to the client as a record, keeping another copy with you
This manual document takes a lengthy time to compose, instead, it is better to use free templates from websites with a customizable approach and prepare your work estimate document by just downloading the template and filling –in the specifications.
Work Estimate Template
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