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House painting invoice example for Administration

Hey, Jon from PaintScout here. Thanks so much for tuning in today as we talked about how to estimate a bedroom using time-based rates. If you happen to like this video feel free to like and subscribe. We'd love to keep the conversation going. And if you have any questions feel free to leave them below as we'd love to help you out outside of this video as well. Today we're going to be looking  at time-based estimation. This is a method used by painting contractors that do millions of dollars of revenue every year and we've learned from them and what their process looks like in order to make this more efficient. We feel like it's very valuable  information for everybody to know. Alright. Let's take a look at how it works. There are a number of benefits  to time-based estimation. First, it allows you to create  a system around how you estimate therefore, taking away the  guesswork and allowing you to make more money consistently on each job. Second, there's an amount of time they're  going to be able to find your crew to tell them how long things should take therefore, producing the  job on time and on budget. And third, it's going to let you build a team by allowing other people to use this information other people (oftentimes with minimal training) will be able to replicate your estimation process and time-based estimation gives you a platform to do that. Alright. In order to figure out how  long this job is going to take we need to understand the  variables we're working with. The first thing would be what we're going to be painting? Is that the walls? The ceiling? The trim? The baseboards? Or any variety of those things. The second thing is how many coats of paint is going to be? Third, we're going to need to figure out how long the prep work takes what type of driving time where the job is located. Once we have all these elements we can start to figure out how long this job takes and put together a price for our customer. Okay. So for today's project we're going to be applying 2 coats of paint to the ceilings, the walls, and  the baseboards in this bedroom and we're going to show you how  to do that using time-based rates. The first step in order for us  to get this estimate started is to find out how much  surface area, linear footage and how many items we're going to be painting. To do that we're going to have to measure. The easiest way that we've heard  from contractors to do this is to use a laser measure. This is going to let you take the dimensions  quickly, accurately, and efficiently so you don't have to move things  when you're getting the measurements. You can also do this using a tape measure or by walking the room out as well. But the laser measure is going to save you time and we highly recommend that. Alright, now that we've measured this room we've found there's 384 square feet of wall to paint. When you're using a time-based rate system we're going to divide the square footage by the amount of drywall our painters can paint in one hour. A great rate to start if you're new to this would be 100 square feet to apply 2 coats of paint per hour. Once you find out how much  time your team takes to do this you're going to be able to adjust this rate but this is a great starting point. Once we have this we can figure out how long this room takes to paint By dividing the wall square footage of 384sqft by our time that our painters take to paint which is 100sqft/hr we're going to be finding that this  room takes 3.84 hours to paint total. Alright, the next step in the process is to figure out how long the  baseboards are going to take to paint. In order to do this we're going to use the same  method we use for the walls. Our measurements show that we have  48 linear feet of baseboards to paint and we're going to need to divide that by the amount of time that our team can paint 2 coats on baseboards. If you're new to this 30 linear feet is a great number to use in order to get started. So, for this room we have  48 linear feet of baseboards we're going to divide that by 30lnft/hr to give us 1.6 hours in order to paint the  baseboards 2 coats in this room. Alright. The third step of this process is going to be to figure out how  long the ceilings take to paint. We're going to use the same process we used for the walls and  the baseboards to do this. If you are new to this maybe try to rate this between  75–100 square feet per hour and see if that makes sense for your team. Alight. So now that we have  the time for all three surfaces we can now add this up to figure out how long this  project's going to take us. In this particular case the walls,  the baseboard, and the ceiling to apply 2 coats of paint is  going to take a 7.34 hours and this is what we're going to use to apply our hourly rate to get the total cost. Now at this point, you might be asking well, is there a tool out there that can  help me to perform these calculations? Great question! And the answer is PaintScout. PaintScout is our all-in-one platform  built for painting contractors to be able to build quick  estimates on the job site and be able to manage that sale  all the way through till the end. It includes the ability to send quotes to customer receive payments and communicate with  customers directly on the app, too. And the best part is PaintScout will  actually take care of the calculations allowing you to use your time-based rates to produce estimates quickly and accurately. Just head to paintscout.com That link again which is also in the  video description is paintscout.com. So now we've figured out how long  this project's going to take to paint we also need to consider how long it might  take to set up, clean up, and get to. In order to do this, you're  going to want to have rates that take into consideration these types of tasks. So, is there a standard amount of  time it takes to set up or cleanup? Or is this job outside of  your regular service area? These are times we need to add in in order to properly estimate this project and get the price for our customer. The final part of this process is to  figure out the cost for your customer. To apply your hourly rate and your materials to the amount of time this  project is going to take. In order to determine your hourly rate you need to be able to  calculate what the costs are and the profit needs are for your company. In today's example, we're going to use an  hourly rate of $65/hour to do this calculation. So, with 8.34 hours to do the job and an hourly rate of $65/hr you're going to be charging the customer about $542 to this project. We can have materials if needed to that amount in order to get  our total cost for the project. Keep in mind some contractors decide  to include their material cost with their hourly rate and that's going to be up to you. Alright! So, that's how the  time-based estimation system works in order to paint a bedroom. If this process is helpful you can apply this to other areas in the house in order to make sure that your estimates are done easily, quickly, and that they're consistent. If you liked what you saw  today, feel free to subscribe. Also, just give us a like as  it really helps encourage us to do more videos like this. And if you have any questions, leave  them down below in the comment section and we'll do our best to help you out. Thanks so much! We'll catch you again soon.