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What are some tips for bidding a job as a contractor?

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Quick Answer

Tips for bidding a job as a contractor include considering experience, operational costs, supplies required, tools and transport. Bidding is a competitive process; these tips can help the contractor win the job.

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Full Answer

The contractor should consider his experience. He may have spent many years improving his skills, and the bid should reflect this background. He should base his hourly rate on experience, the time spent on education and his area of specialization. Over the years, the contractor may have spent money on insurance, license and bonds, and the bid should include these operational costs. A small percentage of these costs should also reflect in the hourly rate of every submitted bid.

Every job requires different supplies, and the contractor should know the equipment required for each job before submitting the bid. He should know whether he can get access to the equipment. The tools required to complete different jobs vary, and the contractor should know whether he needs to rent or purchase the tools required to complete the job he is bidding. If he has to rent or purchase tools, he should put those expenses in the final tally. If the contractor wins the bid, he has to pay for operational and vehicle maintenance costs. Therefore, he should include the costs in every submitted bid. Doing this makes the contractor look professional and honest, earning the trust of clients.

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