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What is a Bid Sheet?
A bid sheet is a document that lists down all the tasks needed to complete a project or job. It is typically used in the construction and other service-related industries like cleaners, contractors, lawn care firms, and gardening service providers. Even third-party IT service teams may use them.
A good bid sheet should be readable and provide accurate information to help a client make a better decision in choosing which contractor or team to work with.
Also, note that bid sheets may also refer to printed forms used for bidding fundraisings, private or silent auctions. In this article, however, we are focusing more on bid forms created and used in the construction industry.
How to Create a Bid Sheet
As of 2018, the United States construction industry is worth $1.32 trillion. And the industry is expecting an 85% growth in the next ten years. As a contractor or business owner, it is in your best interest to hone your bidding skills and get as many clients as you can.
Below, we’ve prepared a short guide on how to further improve any bid form or sheet you are making. Study them and you’ll be churning out bid sheets that you get you more clients in on time.
1. Know the Scope of the Job
To create a winning bid sheet, a thorough understanding of the project is necessary. Most clients will make a Request for Proposal (RFP) first to solicit potential contractors or service providers. Read this request for proposal to know what kind of services or tasks the clients need.
You may then use this knowledge to create corresponding bid estimates and other related bidding data.
2. List Down all Component Tasks
Now that you know what the project is for, begin listing down all the tasks needed to complete a project. Be as thorough with your printable list as possible.
For example, if you are making a landscaping simple sheet, the task list will include lawn mowing, planting, landscape design, installing garden accessories, turf laying, watering, pest control, and other relevant services.
3. Assign Enough Time for Task Completion
Next, determine how much time each task will need. Carve enough time for each task. A good bid sheet should be specific enough to include a project timeline. You may use a Gantt Chart to assist you with your timeline. This way, clients will know what to expect during each day of the job if they hire you.
4. Don’t Skimp on the Budget
A service auction bid sheet also acts as an estimate sheet. The only difference is that the bid price will be the amount that you charge a client. As a rule of thumb, do not skimp on the budget that you assign each task. The bid price should be calculated with your company profits in mind.
Even if the essence of an auction is to hire the lowest bidder, you should not stoop so low that you risk the quality and profit calculations for your services. Talk with your team or talk with the client to determine if you can deliver a more personalized and better level of service without decreasing your bid price.
5. Follow an Organized Document Format
Whether you are openly bidding for a government project or for a private company project, it’s important to present your bid proposals and sample sheets in an organized and easy to understand manner. Most states in the United States requires contractors and service providers to submit their bid solicitations in a formal document in line with their local Competitive Bidding Laws.
