Welcome to I AM Builders!
Construction estimating and bidding on projects are the life of your business. Getting it right can make you or break you.
It’s time-consuming and tedious. Many of our clients are busy supervising jobs and running their companies. And they don’t have time to estimate.
It becomes a “when I have time to do it” type of thing.
Based on an analysis we recently performed, most contractors are giving up 1-2 projects per month because they don’t bid them because of time.
For a General Contractor, that’s easily $500k – $2M in projects per month you can be missing out on!
And for a Subcontractor, that’s easily $100-500k in projects per month….
Could you be missing out on projects? If you’re reading this, there’s a good chance you are. I’ll explain how we came up with these numbers in a bit. But first, let’s review why this is happening. It’s a three-part problem:
Problem #1 – No time
Contractors are the busiest people on the planet. If you’re doing everything yourself, there’s no time to research and find good projects to bid, no time to estimate, and they’re is definitely no time to follow-up with the bids you’ve submitted leading to losing those bids since you couldn’t get to them.
And if you manage to squeeze in some time at night or the weekend, you’re not really going to put together a good estimate because you’re doing it stressed and in a rush. As a matter of fact, you’re probably adding a large cushion in your pricing “just in case” since you’re not fully confident in your number. This causes overbidding… aka, losing bids.
Problem #2 – Losing jobs because of accuracy
Since you’re rushing through the estimate or even getting distracting phone calls from the job site, your estimate won’t be accurate and you might be bidding too high, or worse, too low. Either one of these will cause you to lose the job, or worse, underbid and lose money.
If you’re not a “computer person” or you’re bidding by hand, you’re going to get outbid frequently by other companies that are up to date on software and pricing. Also, your quantities won’t be as accurate as something a digital takeoff software produces so you’ll likely be overbidding most jobs.
Problem #3 – Can’t meet bid dates and deadlines
Lastly, if you’re too busy, you’ll miss deadlines and you might just decide not to bid a project. We’ve done an analysis based on an average industry closing rate of 11% and an average project of $300,000 with a 10% profit margin. If you miss out on just three jobs per month because of time, you’re missing out on over $118,800 per year of profit.
That’s just under $1.2M in contracts per year.
If you’re a GC, and you’re targeting luxury housing, or multi-story projects, this is likely in the multi-millions in losses. And the crazy thing is there’s a simple way to fix this.
How do I fix this?
In the perfect world, you would eventually build your own estimating team. Actually, that should be your long-term goal. But there is this middle-ground where you want to grow your company but you don’t yet have the incoming projects or cash flow to build your team. You’re damned if you do, and you’re damned if you don’t.
Hiring an in-house estimating team can be a bit expensive for most contractors. According to Zip Recruiter, the average construction estimator salary is in the $70k/year range. After including payroll taxes, insurance, etc, that’s about $1,885.61 per week or just over $8,000 per month per estimator.
Most contractors are smaller operations and don’t have enough projects to have a full-time payroll overhead.
The Real Solution
Hire a qualified Construction Management Firm like I AM Builders to help you grow your company.
We can research the projects in your area, contact the clients on your behalf and secure the Invitation to Bid the job. We can also estimate your projects and do all your follow-up and negotiation for you. It’s the equivalent of having an entire sales and estimating team without the high costs.
Because this is our expertise, your estimates will be extremely accurate based on your local market. We even call vendors for you to get pricing for specialty items.
I AM Builders is a Certified General Contractor and we have our own construction division. Our company is made of experienced estimators and project managers so you’re getting estimates from our team that has actually built these projects.
We offer project lead generation and estimating services so we can help you where you need it most.
Our team’s experience includes projects for the University of Miami, Bacardi, Quirch Foods, Cole Haan, Saks Fith Avenue, and more. For some more info on our team’s experience, check out our Project Experience page.
Benefits of working with us
By working with I AM Builders you’re going to get an entire sales and estimating department working on your behalf. It’s like hiring an entire team overnight at half the costs.
By estimating your projects, you’re getting an experienced team to accurately bid your jobs. More estimating means more contracts.
One of the benefits of working with us is we offer extensive lead generating strategies and coach our clients to get more client opportunities.
We’ve developed the Xplode Strategy to help our clients build more leads, estimate projects faster, and build lifetime clients.
The goal is we help you build your organization and allow us to estimate your projects as part of your team.
1,000,000 Accuracy Guarantee
We guarantee our estimates up to $1 Million so you can feel secure that you’re completely covered in the event of an error or omission and you can focus on running projects confidently with the bids we prepare for you. It’s an insurance policy we carry for every client of ours from Lloyds of London insurance company.
900 happy clients and $1 Billion in In Estimates completed
Since 2014, we’ve been helping Contractors and Developers price projects. We currently work directly with 900 clients and have estimated over $1 Billion in projects.
Our experience ranges from residential remodels to large high rises and commercial buildings. Because we’ve completed over 5,000 estimates, we’ve seen every type of project there is. Including our most notable project, the US Embassy in Israel.
Trusted by the US Government
We recently estimated the new US Embassy in Jerusalem, Israel. Our government contractor client, Handymench was awarded the contract. We are grateful to have been part of that team.
Our team will help you secure more work and grow your business.
Testimonials from clients
Here are some testimonials from some of our clients:
Let us be part of your team
Let us help you grow your business and be an asset to your company. We’re committing to growing your leads and building up your pipeline so you can get more projects and make more money.
Our commitment to You
When we perform your estimate, our team is available any time to review and make updates if needed. If a revision is sent, we can usually handle them at no additional cost.
At the end of the day, we want you to be successful. Your success means you’ll keep coming back to us for your estimating. We’re in this for the long haul.
Projects are waiting
There’s no rush. But some projects do have deadlines, so If you are considering sending us over your project for estimating, don’t wait until the last minute. Many clients do and even we can’t turn around a 1 or 2 day project sometimes.
Construction is booming right now so make sure you’re taking advantage of all the opportunities that come your way. Experts are predicting a recession in the next year or two, so it’s important to build up your system now so you don’t get affected. Let us help.
How to get started
If you haven’t done so already, send us your plans to firstname.lastname@example.org.
You can send us the PDF, Dropbox or other link, and Invitation to Bid email.
If you use Procore, The Blue Book, iSqFt or similar, you can even send us your login info so we can download the drawings.
If you have a lot of large files, you can upload them at iambuilders.com/upload. Just make sure to send us an email with a brief description of what trades you need estimated.
If you need any help with this, email us at email@example.com or call us at 1-866-367-4939.
Don’t wait too long
Remember, we’re in a temporary season that construction is booming. Historically, companies that aren’t well established will be heavily affected when the economy hits. We can help you be one of the successful companies that continue to grow.
Our team is ready to help you grow your business by helping you build leads, estimate those projects, and create a follow-up system keeping clients coming back for your projects. Don’t wait and miss out on projects. Remember, missing out on ONE project per month can cost you over $120,000 per year in profit.