Does your construction firm have a solid strategy in place for creating good bids and securing the best projects? In a recent article for Construction Business Owner, two construction experts offer advice for developing your bidding strategy.
Nicholas Olson, owner of Anderson & Hammack Construction, and Jordan Burns, president of Lancaster Burns Construction, offer the following tips:
- Bids should not be one-size-fits-all because each project is different
- Gather thorough information about the job from the prospective client and ensure that you’re on the same page
- Be sure to use up-to-date materials and subcontractor pricing
- Give special attention to the labor portion of your bid—this is often the deciding factor
- Base your bids on your goal margins
- Consider a wide variety of factors, including project schedule, geographic location, and more
- Be conservative about your schedule—projects often take longer than projected
- Seek repeat work from clients with whom you work well
For more details, read the article in full at Construction Business Owner.
