Electrical Bid Calculator

This electrical bid calculator allows you to estimate every project accurately.

What is an electrical bid calculator?

An electrical bid calculator helps electricians and contractors estimate the overall cost of each project down to the dollar. The calculator creates a detailed cost estimate by letting users enter a variety of information, including labor rates, projected labor hours, material costs, equipment charges, travel costs, and permission fees. Of course, you could do the math yourself. But using this calculator will decrease the possibility of human error, save time, and improve efficiency.

How do I determine the labor rate for my project?

The labor rate is the hourly wage you pay your electricians, including additional benefits, taxes, and overhead costs. It can also include a profit margin. Research local industry standards to set a competitive rate.

What should I include in the material costs input?

Material costs include all the supplies and components needed for the project. Think wires, outlets, switches, circuit breakers, tools, and other electrical materials. Be sure to include taxes, shipping fees, and any discounts received.

How do I calculate the markup percentage?

The markup percentage is calculated based on your company’s overhead costs and desired profit margin. Overhead may include administrative expenses, insurance, and utilities. A common markup range is 10% to 20%, but this can vary based on your specific business needs.

Can I use the calculator for different types of electrical projects?

Yes, the calculator can be used for various electrical projects, including residential, commercial, and industrial jobs. Simply adjust the input fields to reflect the specific requirements and costs associated with each type of project.

Formulas used to calculate an electrical bid:

Total Labor Cost = Labor Rate per Hour × Estimated Hours
Total Direct Costs = Material Costs + Equipment Costs + Travel Costs + Permit Fees
Indirect Costs = (Total Direct Costs + Total Labor Cost) × (Markup Percentage/100)
Project Cost = Total Direct Costs + Total Indirect Costs + Total Labor Cost

Example:
Labor Rate per Hour = $50
Estimated Hours = 100 hours
Material Costs = $2,000
Equipment Costs = $500
Travel Costs = $200
Permit Fees = $100
Markup Percentage = 15%

Calculator total labor cost:
Total Labor Cost = $50 × 100 = $5,000

Calculate total direct costs:
Total Direct Costs = $2,000 + $500 + $200 + $100 = $2,800

Calculate total indirect costs:
Total Indirect Costs = ($2,800 + $5,000) × (15/100) = $1,170

Calculate total project cost:
Total Project Cost = $2,800 + $1,170 + $5,000 = $8,970

This example demonstrates how the calculator aggregates various costs and applies a markup to provide a comprehensive project bid.