How to Do an Estimate for Painting
Every company has a different process for estimating their paint jobs. The more accurate and detailed your process, the more profitable your jobs become.
Step 1: Measure surface area
Measure the perimeter of each room and multiply by the room's height. If you’re painting the ceiling, measure that, too. Account for large windows or doors so you don’t overestimate paint for the room.
Step 2: Calculate paint quantities
Divide the total square footage by the paint’s coverage rate. Consider surface material, number of coats and whether this is new construction or repaint. Materials like concrete and new construction will require more paint.
Step 3: Calculate your direct costs
You need to consider all the costs that will directly relate to this job. This includes materials like brushes, drop clothes and tape and labor, such as hourly pay, taxes, insurance and any travel.
Step 4: Calculate your indirect costs
Overhead application is crucial to your business’ long-term success. Rent, utilities, marketing, vehicles and back-office staff are all costs you incur whether a job is running or not.
Step 5: Apply your markup
Once all costs are accounted for, apply your profit margin. This varies by company, but is typically around 1.4-2.4 times the total cost of the project.
Step 6: Analysis after completion
Compare your actual costs to your estimate once the job is complete. Was your estimate correct? What needs to be improved for next time?
Painting estimating software can simplify your estimating process. Estimating Edge handles coverage, labor and material calculations automatically, so you spend less time on calculations and more time on accurate, consistent bids.