Writing a bid in a construction industry is very important so you can get the particular project that you have been eying. A bid is a formal letter containing important things such as price of the particular project if the project is awarded to you and the number of days you think it will take you to finish the project.
Whoever submits the lowest bid or the lowest price to the developer will win and will be the one to make the project. Writing a bid is takes a lot of time to prepare and require thorough mathematical ability and skill so you can come up with a correct and exact bid. If you are just new in the construction industry and you want to join a certain bidding, then the following are what you need to do.
- Know the project that you want to bid on. Before you begin your computation, know the project that you want to bid on. Consider all the specifications such as how big the project is, how many days you can think you need to accomplish the project, how many laborers you will need to achieve the goal, and other things that the developer requires in the bidding requirements. Make sure to read all the important information and follow the instructions so you can have a big chance to win the project.
- Estimate the project cost and requirements. After carefully studying the project and all the aspects involve in developing it, you can now make your budget estimate. Find a hardware shop that can offer you lower price on the materials but still the material is of good quality. Negotiate for a deal and inform the construction store owner that you are bidding for a project. This way you can get the owner to give you good rates for materials. Next, find laborers who are willing to do the project. Explain the project you are bidding and discuss how much you can give and what other things you can offer them. By knowing all of these things you can come up with an exact cost of the project.
- Know how much your profit is. Now that you know how much you will need to finish the project. It is now time to decide how much you will add, or your mark up for the project. The markup will be your profit after completing the project. The mark up depends on the company’s current situation. But you must carefully think how much your final mark up before submitting your bid to the developer. The higher your mark up the greater possibility you will not get the project. So weigh all the pros and cons; and come up with a decision that is both beneficial to your company and to the project that you are bidding.
- Accomplish the bid form. If everything is well calculated and computed you may now fill up the bid form or you can also make your own bid letter with the letterhead of your company. Put how much is your final price bidding as well as the amount of your mark up. Make sure to submit your bidding form on time. Take note of the instruction on how the developer wants to receive your bid form. Follow all the instructions carefully and correctly.
Writing a bid for a construction industry requires thorough analysis and study so you can come up with a correct and exact amount. The amount plays a big part of winning a bid; so make sure to recheck all your computation before submitting it to the developer and make your bidding price as competitive as possible so you can win the project.