It is safe to say that the U.S. construction market is booming, and it shows no signs of slowing down. In fact, the industry is expected to exceed a $2.2 trillion valuation by 2027, according to Statista.
As the construction sector continues to grow, accurate takeoffs become a more valuable factor than ever before. Let’s explore takeoff construction for beginners, and the tools that can help even the most seasoned experts thrive.
A construction takeoff is the final product of measuring, calculating, and documenting the expected material, labor, and equipment needed for a construction project. Contractors use takeoffs to estimate the project’s overhead costs before bidding on the project.
While it might sound simple, this process involves detailed consideration (down to every last nail and bolt) and an accurate execution of complex and compounding calculations using the project’s plans or blueprints.
While the takeoff process used to be done manually, digital takeoffs are the current standard across the industry due to the increased efficiency and accuracy they offer. Digital takeoffs involve calculations completed by a construction takeoff software system.
Finding the right software for you is vital in setting you up for ease, accuracy, and success.
Takeoffs are done by processing the detailed construction plans to calculate the estimated measurements and material requirements. These could be architectural, structural, mechanical, electrical, and plumbing plans, all of which provide specific details about the materials needed. Simply upload your documents into Takeoff Monkey’s innovative software system.
Guided by experienced estimators, Takeoff Monkey will process your documents and
To ensure the highest level of care, two experienced Takeoff Monkey estimators will review your project.
Within 48 hours, your takeoff and materials list will be delivered to you.
At best, an inaccurate takeoff can cost you an exciting opportunity. At worst, it can cost your business hundreds of thousands of dollars while creating a headache for your business. Let’s explore why takeoff accuracy is so important.
The construction takeoff process is vital for creating balanced bids — helping you stay competitive in your market while maximizing your return on a project.
For example, if you overestimate the materials needed for a project, chances are you will be overlooked for opportunities in favor of your competitors (while you watch your pipeline run dry).
Conversely, underestimating a project’s materials will have you eating every extra expense that pops up along the way. While you might technically win the bidding war, this won’t feel like a win for your bottom line.
Perhaps most importantly, an accurate takeoff is vital in offsetting the already unpredictable materials market.
Any experienced contractor will tell you that the price of labor and materials can change quickly and drastically. Estimators may submit a bid and find the material costs double by the time they get started on a project. If this isn’t devastating enough, wait until they find the initial material calculations were inaccurate or underestimated…
Finally, an accurate takeoff is necessary for efficient inventory management. Under-ordering supplies can delay projects — wasting time and money while compromising customer satisfaction. Consistent errors and delays may even put your business’s reputation on the line. Conversely, over-ordering supplies can have you paying for unnecessary upfront costs and extra storage space.
Takeoff miscalculations can create a domino effect within your business.
For example, when one project falls behind schedule due to material shortages, it can delay the labor needed for the next project. This is especially true in the construction industry, where many sectors require ideal weather conditions to complete a project.
When the clock is running and your operating window is slim, the last thing you should be worried about is having enough materials to get the job done.
Contact us today to get started, or see if you are eligible for a free Takeoff Monkey trial run.
