For a new contractor, creating a painting estimate may seem simple—just calculate how much paint is needed. But it’s more complex than that.
Estimating labor, time, and equipment is harder and has a greater impact on your budget. Every painting job is unique, with factors such as room size, ceilings, and surfaces affecting how long it will take.
Unlike other industries with standard conditions, painting is always custom.
To help, we’ve created a step-by-step guide to assist contractors in developing accurate estimates, saving time, winning more bids, and increasing margins.
Step 1: Review the Plans
Before completing a painting estimate, review the project plans or specifications carefully. This can save time and money, especially for new construction or renovation projects. Many contractors struggle with reading plans, but doing so thoroughly ensures accuracy and helps avoid costly mistakes.
Check for errors and ensure measurements are clear. For interior paint jobs, review:
- Site Plans
- Floor Plans
- Interior Elevations
- Reflected Ceiling Plans
- Architect schedules
Step 2: Complete the Painting Estimate Checklist
After reviewing the site plans, use this checklist to gather key details before estimating any painting job.
General Questions:
- Experience level of the painting team?
- What paint brand will be used (client-supplied or not)?
- How exacting is the customer?
Conditions and Preparation:
- Are surfaces flat or have molding/raised details?
- Do any panels need repair or replacement?
- What materials are the panels (wood, metal, plastic)?
- Are there imperfections (scuff marks, etc.)?
- Does the surface need filler, sanding, or cleaning?
Hardware:
- Can hardware (doorknobs, hinges) be easily removed or need refinishing?
Painting:
- Will surfaces be painted or stained? Which type of paint?
- Will all sides have the same color or multiple?
- What tools will be used (brush, roller, spray)?
- How long is the drying time between coats?
- Will extra trips be needed to complete the job?
Answering these questions will help you understand the variables that affect time and cost, making each estimate custom. Use a similar checklist for each job before creating the estimate.
Step 3: Estimate the Cost of Materials
After your checklist, estimate the cost of materials, including paint and supplies.
Cost of Paint:
Paint costs typically range from $15 to $80 per gallon, with an average price of $15 to $50. Contractors often receive discounts, sometimes paying half the price that homeowners would.
The type of paint (latex or oil-based) and the finish (flat or gloss) also affect the price, which ultimately impacts the overall interior painting costs for the project.
To calculate paint cost:
Total gallons needed x price per gallon = total cost.
Example: 10 gallons at $30 = $300.
Estimating Coverage:
Measure the room and subtract windows/doors. A gallon covers 250–400 sq. ft. For trim, use a 4:1 ratio (e.g., for 20 gallons of wall paint, use 5 for trim).
Supplies:
Factor in masking plastic, tape, caulk, brushes, rollers, and primer. Supplies for a 2,500 sq. ft. project typically cost $120–$150.
Step 4: Estimate Cost of Labor
After calculating material costs, estimate labor. Labor costs can vary based on many factors, but a general rate is about $20/hr per painter. The number of painters and hours needed depends on the job specifics. For example, two painters can typically complete a 2,500 sq. ft. home in 1-2 days, costing around $600–$800 a day.
However, repairs, prep work, non-standard surfaces, or special requests can increase labor costs. To avoid underestimating, use the Painting Estimate Checklist to account for all variables and consult with local painters for more accurate labor estimates based on your region.
Step 5: Estimate Overhead and Marketing Costs
Remember to account for the expenditures of running and marketing your firm. If you charge $5k for a work but spend $2k on advertising, your profit is only $3,000. To preserve strong margins, keep marketing costs to less than 10% of the job price.
Step 6: Determine Your Markup
Add your markup to the final estimate to ensure profit. Small contractors should aim for a 50% profit margin, while larger companies can target around 30%. This markup covers unforeseen costs, mistakes, and ensures your business remains profitable and grows.
Step 7: Determine the Final Estimate
Use the following formula to calculate your final estimate:
Materials + Labor + Overhead/Marketing + Markup = Total Painting Project Costs.
Additionally, it’s important to include a cushion for any errors or unexpected issues that may arise.
This ensures that the average cost of interior painting is properly covered, providing a more accurate and reliable estimate for the project.
Conclusion
Estimating a paint job accurately requires careful planning and attention to detail. By reviewing plans, using checklists, calculating material and labor costs, factoring in overhead, and applying a markup, contractors can create precise estimates that ensure profitability. Always include a cushion for unforeseen issues to safeguard your margins and improve your chances of winning bids. Additionally, understanding when is the best time to paint the interior of your house can help you plan more effectively, ensuring better timing and smoother execution of your painting project.