Usually, when you become a subcontractor, you have to master some skills in bidding. It is because when you have a low bid, it would typically mean that you have a low profit. When you overbid, it would cost you the project. Some bidding skills would involve jiving your estimated costs through having to deliver an on-the-mark bid and calculating the profit margin including the budget of your client. You might want to consider talking about the bidding process over someone and begin presenting the required skills. When you do it well, it would get you on top and would definitely increase your chances of having the project. When you are in the field of construction, the bidding process is considered to be the main method of contracting various firms. There are contractors that would prefer contracting sites to subcontractors so that the bidding process will become the most important part in the construction project itself.
10+ Subcontractor Bid Samples
1. Subcontractor Construction Request to Bid
2. Subcontractor Proposal Bid Form
3. Subcontractor Bid Evaluation Policy
4. Advertisement Subcontractor Bid
5. Request for Subcontractor Bid
6. Subcontractor Bid Opportunity
7. Subcontractor List Bid
8. Subcontractor Project Bid
9. Construction Request for Subcontractor Bid
10. Subcontractor Project Bid Proposal
11. Subcontractor Disclosure Bid
Steps on Bidding as a Subcontractor
1. You should know your metrics. It is at every stage in a subcontractor bidding process that you would be aware of the metrics. This refers to the following:
- Company’s bid-hit ratio – this type of metrics represents the percentage of a particular application that would lead to any rewarded contracts. It usually depends on the industry you are in and the type of work.
- Project-related qualifications – most of the contractors have required qualifications that subcontractors should be able to meet. Such qualifications would mostly refer to the company’s capacity, size, and a number of some completed projects in the past.
- Workforce-related metrics – this is very useful when it comes to subcontractor bidding process as this will help you with the workforce’s current capacity. You should at least think well before trying to bid on projects. This might create a negative impact to your workforce.
2. You must be able to understand the contract’s needs inside and out. Allow yourself to avoid making a lot of mistakes specifically on jobs that you don’t even understand. Know what your client wants. When you can have the chance to take information from you client’s bid documents, might as well ask for some questions.
3. You should be able to determine an accurate estimation of your expenses. When you are delivering a low quote, it would be possible that you will be losing on the subcontractor bids. Having a good subcontractor estimating software would be essential in this aspect.
4. Bid selectively. Avoid trying to allocate your resources just to bid on contracts they have no intentions of fulfilling. As such, it can help you save money and time.
5. Format your bid submission carefully. If you fail to follow the format, it would likely result to automatic rejection.
6. Tailor the language you will be using in your bid based on the preference of your client.
7. Make sure to include any relevant references. Consider including photographs of the previous projects. Help your clients and make them understand why they should choose your bid by presenting to them your past successes.
8. Deliver your bid as part of the presentation. Allow your clients give feedback and ask some questions.
9. Schedule a follow-up in your bid’s cover letter.
10. Take some notes about what works and what doesn’t.
What is the construction bidding process?
Subcontractors will send the bid invitations to the subcontractors. The subcontractor will receive the bid package, download the bid documents, and submit their bid to the contractor. The contractor, then, will award the bid to the subcontractor with the winning bid.
What are the ways in ensuring the accuracy of the project estimates?
Track your resource usage, enlist an expert’s help, calculate labor costs, be aware of the project scope, and identify the risk factors.
If you want to see more samples and format, check out some subcontractor bid samples and templates provided in the article for your reference.
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