One lesson every painter needs to learn is that you don't price a job based on someone else's price.
Don't forget this rule: this is a free country - if someone else wants to go bankrupt trying to lowball everyone else - then let them. You don't need to go down with them trying to be like them.
There is no "going rate", there is only the right price for you to do the job based on you costs, overhead and profit.
The "going rate" is an attempt to get you to conform to someone else's price - don't take the bait.
Daily rate: The only "rate" that matters
My preferred method of estimating is to charge by the day. Even if I am doing a job on a time and material basis, I prefer to do it by the day (not by the hour). Rather than price out by piece or square footage, it is simpler to use a day rate.
The day rate calculation is simple:
Desired annual wage + Company annual profit + Costs (all annual expense and overhead costs) =Annual Gross
Annual Gross divided by number of working days = Day Rate
Armed with this knowledge, you will only have to accurately estimate the time that it will take to do a job (in days) and then multiply this number by your day rate.
Paint Estimating - "The Going Rate"
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Painting and Decorating Concourse Home > The Business of Painting > Paint Estimating: The Going Rate
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