Most customers get bids from various companies when they need plastering work, putting you in a competitive position. It may be tempting to give the lowest estimate you can to try and win the job, but this could lose you money; bid too high and you may not win the contract. A disciplined approach to pricing gives you the best chance of winning the bid without going broke.
Determine the start and finish dates and the square footage to be plastered. Estimate how much work must be completed per day to meet deadline; determine how many workers you need to fulfill the job’s work requirements. Calculate labor costs: multiply number of hours by wages per hour for all employees. Include cost and time for supervisory work if you will not be on site.
Determine materials and equipment needed. For example, you may need to apply plaster onto metal lath or blue board. Determine if the job requires use a two-coat system, or only one lime putty plaster coat. Contact supply companies and price needed material amounts. Arrange availability of workers, equipment such as scaffolding that you will rent and equipment you must purchase, such as cage-style mixers and trowels.
Add up all costs. Add a percentage (exact amount varies by market) to cover profit and administrative overhead costs such as insurance and payroll services.
Create a payment schedule proposal. Determine if you need financing or a down payment to cover the initial cost of items such as plaster, scaffolding, covering for floors and salaries.
Prepare your bid sheet and a contract outlining all conditions of the job and the method and timing of payment. Address how change orders, delays and other liability problems will be handled and paid for. Include how you will protect and clean floors, windows, woodwork and other surfaces from splatter damage.
Keep track of wages and materials cost trends in your area to ensure your bid is “in the ballpark.” If you own your own equipment, your overhead figure should include a portion of that expense, since you will use that equipment on many jobs. Spreading out the cost over a specified period of time is called amortization.
Outline your policy regarding future cracking in the contract. Since industry standards vary by location and economic conditions, spell out your liabilities and the length of time for which you offer coverage. Ask the client to approve samples of selected plaster color and texture finish in writing prior to general application.