So your customer has made a flooring selection. You’ve measured the area of installation, determined any special preparation and repairs to be done and you’ve made a list of all associated trim and labor costs to complete the job. Now what? It’s time to put your quote together!
Do you figure everything at a 20% margin? 30%? 40%? Or do you just add $1.00 per foot to the material and hope to make a profit? No one but you can determine the best method on how to price your work. After all, only you know the profit you need to make. However, it never hurts to take a moment to make sure your method is profitable but also competitive. Below are a couple of factors to consider with each quote you put together.
For the actual selling price and/or quote, a retail salesperson should consider:
- Their reputation and/or experience.
- The value of the home and the immediate area cost of living.
- The market value of professional, quality installation services
- The size of the job Any extras or oddities that will add time and expenses.
- Any competitors that may also be submitting quotes to the customer.
- “How much do I have in supplies?” (i.e. underlayment, fasteners, finish, etc.)