Free Guide: A Contractor’s Guide to Increasing Construction Profit Margins
If you’re anything like most contractors right now, you’re worried you may not make it to your next project. As we all know, most construction firms never make it to their fifth year and construction profit margins have continued to erode. At last check, they were down to 0.38% in 2019. That’s right–less than a single percent. Construction was difficult enough before COVID-19 hit, but it now feels like it’s almost impossible.
But before you decide it’s just not worth it anymore, we recommend reviewing the benefits of on-demand construction estimating services for contractors. We know what you’re thinking: what does a cost estimating service have to do with getting my business out of the red into the black or from taking my business’s profitability from 5% to 10%? Isn’t outsourcing cost estimating going to cost me more when I could just do it myself? Well, it has everything to do with ensuring your business operates at a profit rather than loss.
Did you know that most contractors lose many more bids than they win and the primary reason they lose those bids is due to inaccurate cost estimates? And when contractors do win a bid, they often lose their profit margins or even complete the project at a loss because of cost overruns from an inaccurate estimate? Why? Because developing an accurate and detailed construction estimate or a quantity takeoff isn’t easy.
However, it used to be expensive to outsource construction estimating. But with new AI-powered cost estimating services, which leverage the combined power of human estimators and AI, contractors can get a high-quality construction estimate or quantity takeoff for a fraction of the price of doing it yourself and in half the time.
This is why we’re excited to announce our new guide written specifically for contractors: A Contractor’s Guide to Increasing Construction Profit Margins: Unlocking the Benefits of Construction Estimating Services. Written by an industry expert, this guide is sure to be a game-changer for contractors who struggle and work hard but are still finding it difficult to be successful in the increasingly competitive construction industry.
In this free guide, you’ll learn:
- Why construction estimating services are replacing traditional cost estimating
- Why you need alternatives to an in-house estimating department
- How to avoid the estimating software trap
Even better, you’ll discover how to unlock the 5 benefits of construction estimating services by:
- Winning more bids with fast accurate estimates
- Eliminating overhead that cuts into profit margins
- Saving money by increasing margins
- Eliminating headaches and wasted time
- Growing your business
This guide also includes a detailed success story of a contractor just like you who opted to forego traditional construction cost estimating for a construction estimating service. By using a construction estimating service, he won a bid valued at 3.7M!
After reading this guide, you’ll not only see the benefits of construction estimating services, but also how you can unlock them so you can win bids and grow your business.