One of the main concerns in choosing a painting contractor is the rate and quotation that they can provide. Professional contractors and bigger companies normally cost more than the amateur ones or the self-employed contractors. It doesn’t take an accountant to assess quotations and comparing rates.
There are various kinds of factors to be considered when a contractor gives you his/her estimation of expenses. Such may be based on size of the surface, profit, fees and taxes, materials, hourly rate or time and rate.
One of the most common bases of a contractor’s quotation is the size of the surface to be painted on. They measure and identify the square footage and give you the rate based on the measurements.
Another common one is the profit that they can obtain from the painting job. They need to get a percentage from the whole rate given to keep their business going. Of course bigger companies will need to give you a higher rate as they will have more factors to consider. They will provide you with a bigger size of workers, which means a faster job. A self-employed contractor may also hire more help which can affect the rate that he/she will give you.
Fees and Taxes
Fees and taxes can also add to the expenses of the contractor. Such could include taxes that the territory will require from the contractor or his/her company, insurance, and license bonds of the company or contractor if he/she is licensed.
Materials to be used can greatly affect the rate that a contractor will provide. This can include pre-painting and painting materials to be used. Pre-painting materials may include materials to be used for cleaning the surface like sanding or water blasting, materials for caulking and sealing and things to be used for covering and protecting furniture, floors, and other objects in the house.
Hourly rate technique is usually not chosen by contractors and clients as well as this means that the job may be finished for longer periods of time. However, Time and rate technique is the more common way to go. With this technique, the contractor determines the length of time that they would need to finish the job and the rate that they can give depending on this.
Some things like employees’ salaries (for bigger companies), administrative expenses, transportation expenses (gas, car rental, fare) and marketing expenses should also be considered in a contractor’s quotation.