Bid Estimate Template

Are you in the process of bidding on a new job or project? Free bid estimate templates from Billed help you create and customize professional-looking bids quickly so that you can get back to work.

Get Your Free Bid Estimate Template

Small businesses can not afford to spend a considerable amount of money on tasks like creating estimates, with free bid estimate templates from Billed; you can easily create and issue detailed and accurate estimates in just a few seconds. Download our free estimate template and start exchanging complete and accurate estimates with your customers immediately and ideally.
Our beautiful and editable bid estimates templates are available in Google Docs, Google Sheets, XLs, Word, and PDF, edit them, and email them to your customers.

 

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Free Bid Estimate Template

Do you want an estimate template with which you can quickly create and send complete and accurate estimates? Download this free bid estimate template and make your first estimates with just a few clicks.

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Contractor Bid Estimate Template

Do you want to issue an estimate that contains all mandatory information and makes a professional impression on your customers? Then this contractor bid estimate template is a complete package. 

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Invoice With Billed

Print, download or send your estimate for free with Billed.

Invoice With Billed

Download the free professionally designed, fully customizable estimate template from Billed.

Handyman Bid Estimate Template

Do you want to calculate the amount of your estimates automatically? Then you should try this elegant and editable handyman bid estimate template. Its advanced features help you create and send estimates quickly and accurately.

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Printable Bid Estimate Template

This printable bid estimate template is the easiest and most efficient to create and send detailed estimates to your customers. Its multiple functionality and several options ensure the accuracy of the estimate.

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Invoice With Billed

 Create a unique estimate in seconds with Billed and stand out from your competitors.

Job Bid Estimate Template

If your estimates templates are more complicated, you should try this easy-to-use job bid estimate template. It will allow you to create and send high-quality estimates to your customers in a professional manner.

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Emergency Services Bid Estimate Template

Download a free emergency services bid template to personalize with your information. You can easily edit this professional-looking estimate template with the necessary information and send it to your customers.

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What is a Bid Estimate?

A bid estimate evaluates or calculates the anticipated costs associated with a construction project or service. It is a crucial component of the bidding process, where contractors or service providers present their estimated prices to potential clients or project owners.
The bid estimate considers various factors such as labor, materials, equipment, overhead expenses, subcontractor costs, and any other relevant expenses specific to the project. Contractors analyze project plans, specifications, and other relevant documents to determine the scope and requirements. Based on this information, they estimate the costs involved in completing the project.
The bid estimate serves as a basis for the contractor’s proposal to the client, demonstrating the project’s anticipated cost. It allows the client to assess the project’s feasibility, compare different bids, and select the most suitable contractor.
A well-prepared bid estimate is essential for contractors to ensure they cover their expenses and make a profit while remaining competitive in the bidding process. It requires careful analysis, accurate calculations, and consideration of market conditions to provide a realistic estimate that aligns with the client’s expectations.

Difference between estimate, invoice, and delivery note

Estimates, invoices, and delivery notes have different characteristics in commercial transactions.

The estimate is prepared before the contract transaction. It is not a document that must be prepared under the Civil Code, the Companies Act, and the Tax Law but is created and issued based on business customs.

The invoice is created after the contract transaction and is mainly used for payment collection. Whether the invoice itself is legally valid depends on the circumstances, but tax law requires that it be retained for a certain period. Depending on the level of the company or business, there is a storage obligation of up to 9 years.

The delivery note is a document that accompanies the contract transaction and is the legal basis for the delivery date. The obligation to pay the ordering party’s price will occur after the delivery date, and the order receiving party will have the right to receive the payment after the delivery date.

Write an estimate that your customer will accept.

Every client and project has different requirements and budget-levels. To meet all the levels of budgets and requirements, you need to create a quote that fits all your and your client’s needs.

That’s why you need to use accounting software that fulfills all your business needs. Luckily, Billed is a powerful tool that can centrally manage and streamline the business, and SMEs, like sales management, payment management, grasping sales forecasts, cash flow forecasts, as well as creating quotations and invoices. 

  • Create quotes in bulk
  • Automatic calculation
  • Alert function to prevent billing omission
  • Reduce the psychological stress of paperwork

How do you calculate bid estimates?

Calculating a bid estimate requires careful consideration of the total construction cost and the markup price. The construction project’s total cost includes direct and indirect expenses related to the construction works. To simplify the process, follow these steps:

Assess the project: Understand the scope of the construction project by reviewing the plans, specifications, and any other relevant documents. Identify the materials, labor, equipment, and subcontractors required.

Calculate direct costs: Determine the costs directly associated with the project, such as materials, labor, equipment rental, and any specialized services needed—research prices and quantities to arrive at accurate cost estimates.

Account for indirect costs: Consider the indirect costs or overhead expenses incurred during the project, such as insurance, permits, utilities, taxes, and project management fees. Calculate these costs as a percentage of the direct costs or as a lump sum.

Include markup price: Add a markup percentage or fixed amount to cover your profit margin and account for business expenses. The markup price should reflect the project’s risk, complexity, and competitiveness.

Calculate the bid estimate: Sum up the direct, indirect, and markup costs to arrive at the bid estimate. This final amount represents the price you will present in your bid proposal.

What is the expiration date of the estimate?

There is no fixed one. It depends on the product and service. If the price of the material fluctuates, shorten the expiration date. As much as possible, it is better to add the expiration date.

What are the five 5 main stages of an estimate?

Here are the five main stages involved in creating an estimate:
Project Scope: This stage consists in understanding the scope of the project. It includes reviewing project plans, specifications, and any other relevant documents to determine the specific requirements and objectives of the project.
Quantity Takeoff: In this stage, the materials, labor, and resources needed for the project are determined. It involves analyzing project drawings, specifications and conducting site visits to estimate the quantities required accurately.
Pricing: Once the quantities are determined, the pricing stage begins. It involves obtaining material prices, labor rates, equipment costs, and subcontractor quotes. These prices are then used to calculate the cost of each item or activity in the project.
Overhead and Profit: In this stage, the estimated costs are adjusted to account for overhead expenses and desired profit margin. Overhead costs may include administrative expenses, insurance, permits, and other indirect costs associated with the project.
Finalizing the Estimate: The final stage involves reviewing and refining the estimate. It includes cross-checking the calculations, ensuring accuracy, and making necessary adjustments. The estimate is then presented as a formal document, including a breakdown of costs, terms and conditions, and any other relevant information.

Tips While making an Estimate

Estimates are the last barrier for prospects to trust and turn into customers. Here are some essential points to keep in mind to make an estimate that your prospects can rest assured of.

 Is the estimate easy to understand?

Make sure you can see the essential parts in an instant. The estimated amount will come to your eyes first, but you need to write the details clearly to understand the rationale clearly.

If there is a discrepancy with the items to be confirmed, it may cause trouble later. You can avoid problems by creating an easy-to-understand estimate for each opportunity step.

 Is there a basis for estimating the delivery date and price?

It is a common problem that the delivery date and price stated in the estimate deviate from reality. Sales reps should not overdo it to get an order. The delivery date and price of the estimate will be decided in consultation with the person in charge of development and the person in charge of the entire project.

If you find that the delivery date and price set in the estimate cannot be completed in the middle of the process, we will consult with the customer again at that stage and approve the change in the delivery date and the billing amount.

 Can you provide it as soon as requested?

Depending on the prospective customer, we may have already collected information on the website, etc., and are considering purchasing specifically. Other prospects want to know how much it will cost as the first step in their consideration. Therefore, it’s a good idea for sales reps to be ready to offer when they enter a deal.

How to Make a Bid Estimate?

Creating a bid estimate with Billed estimate templates is easy. You need to follow these simple steps:

  • Download the free bid estimate template from Billed in your preferred file format. Billed offers a variety of templates in different formats, such as Word, Excel, and PDF.
  • Fill in the details, including the project name, description, deadline, and budget. The details section should provide a brief overview of the project, including the scope of work, timeline, and other relevant details.
  • Break down the costs into labor, materials, subcontractors, equipment, and other expenses. It’s essential to provide a detailed breakdown of the costs involved in the project. This helps the client understand how the total cost is calculated and where the expenses come from.
  • Calculate the estimated cost and include payment terms, payment method, payment schedule, deposit, and late payment fees. The payment terms section should outline how and when the client is expected to pay for the services or products provided. The total estimated cost should be the sum of all expenses in the bid estimate.
  • Review the estimate for accuracy and make any necessary changes or adjustments. Once you have created the bid estimate, review it for accuracy to ensure all the details are correct. Make sure that all the costs are accurate and complete. If there are any discrepancies, adjust them before submitting the bid estimate to the client.
  • Send the estimate to the client for approval. Once you are satisfied with the bid estimate, send it to the client by email or Billed. It’s important to include a cover letter explaining the project details, the estimated costs, and payment terms.

Download The Bid Estimate Template For Free

Creating bid estimates has become much easier with the help of bid estimate templates from Billed. These customizable estimate templates are designed for businesses that often need to provide estimates for their services or products. You can download the templates for free and use them to create professional-looking estimates quickly.

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