Sounds like you should multiply your cost by 1.25-1.5 & you need to multiply your cost by 2 to get a 50% profit margin, what you calculated is a 33.33% profit margin

@TheEasiestBusiness

2 ай бұрын

yes, i made a mistake in this video. I addressed and did it correctly in the follow up video i posted with a similar title to this one.

A better way to calculate your margin is to divide the cost. If you want 50% margin then divide .38 by .5 and you would have a true 50% mark up of .76 per square foot.

wall $1.50 s/f no prim include paint and material

That was awesome dude I appreciate it

@TheEasiestBusiness

Жыл бұрын

Thank you sir! 🫡

Broooo I neeeed this!!!

Brilliant representation man,I will connect with you,thank you

@TheEasiestBusiness

2 жыл бұрын

Thank you brother. That means a lot!

I agree. This is a very easy-to-understand presentation. I have painted for a long time but have just now switched from eyeballing to sq. footage. I'm anxious to see how it goes. Thanks!

@TheEasiestBusiness

Жыл бұрын

Thanks David! This is basically for commercial only and I would advise against substrate pricing for residential. I prefer time + material + add profit for residential work. Thanks for watching!

@davidd.perata2085

Жыл бұрын

@@TheEasiestBusiness Actually I am bidding a police station with quite a lot of square footage. Is your formula okay for that? Need to turn it in tomorrow. Thanks.

@TheEasiestBusiness

Жыл бұрын

@@davidd.perata2085 dude. KZread refuses to send me notifications about replies to my response. It frustrates me. Hope you got it handled. My formula is good for the walls, just make sure to input your costs as they’ll differ from my made up numbers

Great explanation.

Very nice presentation and you seem EXTREMELY smart and confident keep up the good work if you were my son I would be proud !!

@TheEasiestBusiness

Жыл бұрын

Wow, thank you Dathan!

Important, 1 gallon 400 square ft at 3 mil application! Also factor in how much cutting is involved this usually messed up profit gain in a standard of 10 cent per square ft 1 coat ,ALWAYS OVER BID A I DONT WANT TOO DO IT JOB, WORSE CASE SCENARIO THEY AGREE TO AN OUTRAGEOUS QOUTE AND MONEY WILL MOTIVATE you❤

I tried and tried running numbers and finally had to resort to materials + labor + profit and guessed as best I could with a combination of experience and the numbers as best I could. Turned in the bid but haven't heard. Tree others bidding.

What about ceilings? I looking for what it may cost to spray the interior of the house. Literally Floor up.

@TheEasiestBusiness

2 жыл бұрын

Dana, Thanks for the comment. This formula would work for ceilings as well. If you know “time” it takes to spray your ceilings, and the amount of material you’d need to complete the ceilings, then you can get a price per SF. 1 room = 2 hours of labor @ $25/hr plus 1 gallon at $25 a gallon = $75 total in cost. Your cost price for a 200 SF ceiling would be $0.37 / sf because $75 divided by 200 is .37. If you want to make a 50% margin you need to be charging $0.74 / sf for ceilings. This is just an example you have to figure out the specific numbers for you and your company. Hope this helps!

I feel like those totals are very very low. How do you make money charging that????

@TheEasiestBusiness

2 жыл бұрын

Taylor, This was just an example. You should tailor the numbers to your business specifically. This isn’t necessarily what I would charge. The focus is more on HOW to get there. Thanks for watching!

@krayziefresh

2 жыл бұрын

I own and operate a fairly large painting outfit (7 digits), and I recommend you X 2 those costs as opposed to multiplying by 1.5 if you want to survive long term, or do what you can to get there. A 50% gross profit margin is you spend a dollar but charged $2. You just described a 33% profit margin. Feel free to dm me if you have any basic questions. Wish you luck in your business.

@aldourbina7550

2 жыл бұрын

🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️😂😂😂😂😂

@clickersorising4601

2 жыл бұрын

@@krayziefresh I would like your help please

@krayziefresh

2 жыл бұрын

@@clickersorising4601 I'd say to PM me but I don't know if KZread has that option. What you need help with

What about for fire lane curbs?

@TheEasiestBusiness

Жыл бұрын

I would do them by a unit figure price ($200 each, etc) or have a linear footage price for them!

How do you figure in protection cost and ladders etc

@TheEasiestBusiness

9 ай бұрын

You could divide insurance by taking the monthly payment and add it equally into every job. If insurance is $500 a month and you average 5 jobs a month add $100 on each. You could add 10% to each job as a tool allowance or whatever. However you want to do it!

What would be a rough estimate for a commercial building with a wall sq ft of 38,000 be ?

@TheEasiestBusiness

2 жыл бұрын

Drywall? Hard for me to say without knowing your material costs, labor costs, and how fast you can do it. Lift included? There are too many factors to quote it accurately without knowing all the info.

@leyvaalonso38

2 жыл бұрын

@@TheEasiestBusiness yes drywall 8ft tall office hallways, building owner is paying for primer and paint and requested 1 coat primer 2 coats of paint. I have a crew of 3 guys available

@mjonesftwtx

Ай бұрын

@@leyvaalonso38what did you charge? I just did fast math to quickly figure this out- take total sqft and divide by single sheet of drywall (12 foot piece is 48 sqft) so you’ll need about 780 sheets of rock multiply that by whatever it costs per sheet in your town and then add another couple grand for mud paper etc then times that final number by two. That second portion is ya labor. Thank me later.

Where are you located?

@TheEasiestBusiness

Жыл бұрын

South Alabama!

This is 30% profit...not 50% profit. 50%profit is total cost of the job x2

@TheEasiestBusiness

2 ай бұрын

yes, its 50% mark up 33% margins. i misspoke in the video but changed it in the follow up video with a similar title. thanks for commenting!

So you charge people per square feet but a window takes up 50 percent of the wall ,you charge to paint something you dont paint because it takes to much time to measure a window and subtract 😂😂😂😂

@TheEasiestBusiness

6 ай бұрын

Just telling you how it works in commercial production. Do with that what you will.

I have three builders all Separate companies that will Be throwing me work so I need a crash course this is mint I will Be checking out your website wish you lived Near Philly I’d throw you work and sub you with me lol

@TheEasiestBusiness

Жыл бұрын

Haha I appreciate the sentiment but I’m not on the tools much anymore. I’m still teaching my blueprint reading course personally at the moment. Once I get to about 50 hours of coaching content I’m going to stop teaching it. I’m at about 25-30 right now.

Great day, i am very interested in learning more about bidding on commercial and government property

@TheEasiestBusiness

2 жыл бұрын

I’d be more than happy to help you out in anyway that I can. Just let me know!

Calculator lol im offended

@TheEasiestBusiness

2 жыл бұрын

I’m from Alabama I need it 😂

This advice is hypocritical, usally the case when quoting and paying lowest labor as possible without doing the job yourself, MATERIAL IS ALWAYS PAID BY THE CUSTOMER WITH A 30 PERCENT MARK UP to cover busy work !

@TheEasiestBusiness

7 ай бұрын

Never did I say the contractor should eat the cost of materials. lol