What Is A Repair Estimate?
Repair estimate talks about the costs involved to repair a car body, roof, auto, house, or vehicle. It often varies depending on the different factors affecting it such as labor rates, parts prices of construction materials, and the amount of time needed to fully repair the damages. In some cases, repair estimate report is often needed in order to have a detailed summation of all the costs needed to fully repair the damage. Overall, estimate talks about the statement of the cost of work that needs to be done.
How To Write A Repair Estimate
An effective repair estimate should be able to relay important information's, such as a description of the work that needs to be done, all the costs involved from purchasing parts to the cost of labor, and an agreed statement that the amount proposal should not be changed and exceeded to a higher percentage without any approval. Written repair estimates serves as a contract between you and the repair shop that states what should be done and how much would be its overall cost. We have listed a simple guide step below on how you can start making one.
1. Identify The Materials Needed
Your first step in crafting a simple estimate is to identify all the needed materials. If possible, make a survey about the damages and from there you will be able to determine what needs to be replaced. List down every minor to major damages that needs immediate replacements so that it would be much easier for you to purchase the materials needed.
2. Find Prices For The Materials
After identifying the materials needed, it's now time to price them. The best thing that you should do when it comes to pricing is to research its market values. By doing this, you are sure that you gain the exact amount of net profit equivalent to your services. It's best that you do this step online because it is more convenient and offers you a wide variety of choices.
3. Factor In Man Hours
If there is damage, then of course it needs replacement. And who usually does the replacement? The laborers, that's why for this step you need to focus on factoring the number of hours required to determine how long would it take to complete the repair. If your clients wants an immediate action to this, then you have to make sure that you meet their given deadline, if possible.
4. Add Up Total Cost
After completely accomplishing the steps above, you can now start creating the overall printable estimate. You can achieve this by adding up the overall total cost from the materials and labor cost. Make sure that the calculation of total cost is right and just. The overall range of your total cost should be appropriate to the market price.
5. Research Your Competition
Your number one objective in constructing a sample estimate is to come up with a competitive result, but on the other hand, you also don't want to overcharge it too much that you end up not making any money at all. So the best thing that you should do is to research your competition, make sure that your results are somewhat aligned with them to create a much healthier competition.