Free Estimate Templates | Smartsheet (2022)

Smartsheet Contributor Andy Marker

May 14, 2018

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A job estimate, also called a work estimate, provides customers or stakeholders with a detailed look at the costs associated with a proposed job or project. In addition to estimated costs, it may also include a project timeline, terms and conditions, or a payment plan, and can be used to evaluate whether to move forward with a project.

Many service industries utilize work estimates, from construction and engineering to software development and other IT jobs. Templates offer an easy solution for creating professional estimates while saving time and money. Below, you’ll find everything you need to get started — a series of free work estimate templates for Microsoft Excel and Word as well as PDF.

Generic Job Estimate Templates

Job Estimate Template

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This Excel estimate template includes itemized sections for listing materials, labor, and other charges. Enter rates and quantities for each item, and the template will automatically calculate total costs, including tax. The template also includes a tracking number, space for describing the project or work to be performed, and signature lines.

Hourly Work Estimate

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‌ ‌Download Hourly Work Estimate - Excel

(Video) FREE Stellar Consulting Construction Estimate Template

This simple estimate sheet is designed for services that are billed hourly, which could include consulting, freelance work, skilled trades, delivery services, or other jobs. Include a project description and list the number of hours estimated for a task or project phase, along with hourly rates. Customers can see a breakdown of estimated costs, and you can customize the template to include terms or other information.

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Construction Estimate Templates

Simple Construction Estimate Template

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Use this basic, blank estimate template to provide customers with an appraisal of costs for a given project. List labor, materials, permits, subcontractor fees, and other items, along with the total project cost. The simple format makes the information easily accessible to customers, and the template can be modified to suit your needs.

Contractor Estimate Template

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(Video) How to Estimate Construction Projects Using The *FREE Google Sheet Template* From BuildBook

‌ Download Contractor Estimate Template - Excel

Contractors can use this detailed estimate spreadsheet to plan project estimates and track actual expenses, including payments to vendors. This is a useful planning tool to help ensure that estimates are as accurate as possible, especially for complex construction projects that involve multiple types of work performed by various subcontractors. Edit the template to include all of the tasks and fees relevant to a specific job.

Bid Tabulation Template

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A detailed bid tabulation can help ensure that a final bid for a project is accurate and competitive. List bids from multiple contractors to either compare bids or compile vendor proposals for a more accurate estimation of the total costs of a project. The template calculates subtotals and final costs based on the unit amounts that you enter.

Remodeling Estimate Template

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Download Remodeling Estimate Template

Excel | Word | PDF

Geared toward remodel projects, this estimate form breaks down expenses by room, type of work, appliances, materials, and other costs. Edit the template to include all of the elements involved in a specific remodel project. Add costs for each line item, and enter details about the job location, tracking number, and other information at the top of the form. Homeowners could also use this form to help develop an initial budget for a remodel.

Work Estimates by Job Type

Auto Repair Estimate Template

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Download Auto Repair Estimate Template

Excel | Word | PDF

Create an estimate for automotive repairs that includes vehicle information, a list of repairs, parts, and labor costs. Customize the template by adding a company logo and business info, including payment terms or other conditions that customers need to be aware of. Include subtotals for labor and materials so that customers can see a breakdown of expenses.

Painting Estimate Template

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Download Painting Estimate Template

Excel | Word | PDF

This template allows you to list projected costs for both interior and exterior painting jobs. Columns are included for listing specific tasks, materials to be used, labor, and total costs. You can also add a billing address, a job location, a work deadline, and other relevant details. Create a comprehensive painting estimate for residential or business locations.

Roofing Estimate Template

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(Video) #1 Estimating with Excel for the Small Contractor

Download Roofing Estimate Template

Excel | Word | PDF

Roofing contractors can use this estimate template to list all of the elements required for a roof installation. Identify the type of shingles to be used, other roofing materials, labor costs, and additional charges. Include cost estimates for more than one roofing option if customers want to compare costs for different materials or installation methods.

Landscaping Estimate Template

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Download Landscaping Estimate Template

Excel | Word | PDF

Provide customers with a detailed estimate for landscaping jobs, including a work description, required materials, individual tasks, and unit prices. Be sure to include any equipment, delivery, or waste disposal charges if needed. You can download this estimate template, along with the other templates above listed by job type, as an Excel sheet, Word document, or PDF form.

Project Management Estimate Templates

Project Estimate Template

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‌ Download Project Estimate Template - Excel

This project estimate spreadsheet offers sections for listing project phases and associated costs based on the number of hours needed, personnel costs, and other expenses. You can also include starting and ending dates, names for the project manager, the client, or other stakeholders, and planned deliverables or project outcome(s). Use this template to create an initial cost estimate to help determine the viability of a project and the budget required.

Software Development Estimate Template

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‌ Download Software Development Estimate Template - Excel

Use this software development estimate to evaluate the work effort and financial cost required to complete a project. Include resources required for different phases and activities in the development process. This is a simple Excel sheet template that can easily be edited to estimate costs for a wide range of projects.

Three-Point Cost Estimating Template

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‌ Download Three-Point Cost Estimating Template - Excel

This template utilizes the three-point cost estimating method, with best-case, most likely, and worst-case scenarios included. Enter your data, and the template will automatically calculate weighted averages for each line item. A total amount is listed at the top of the template for a quick overview, and there is also room for additional notes.

Parametric Cost Estimating Template

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(Video) Free Estimate Template For Construction Companies From Fast Easy Accounting

Parametric estimating can be a quick and accurate method for projects that involve uniform, repeatable tasks, as opposed to projects that involve a wide range of variable work. This template includes sections for product and labor expenses, with lists for adding items and tasks, unit costs, and hourly rates. Subtotals — as well as a combined total cost estimate — are provided for each line item.

Why Use a Job Estimate?

While job estimates are not binding contracts, they do provide written documentation of an initial evaluation of costs. This documentation is important for maintaining accurate records, comparing actual expenses to the original estimate, and planning estimates for similar projects in the future. Clear documentation may also help to avoid any misunderstandings with customers and support the creation of a realistic quote or contract. This way, both contractor and customer have some level of financial and legal protection. The process of creating a job estimate also helps to outline the parameters of a project as each step is identified and evaluated for cost.

One of the benefits of using an estimate template is the ability to reuse a standardized form to boost efficiency and provide consistent, professional communications with clients. Rather than creating a new estimate form for each client, you can simply adjust the deadlines, expenses, materials used, and other details based on the scope of a project and customer needs.

Project managers who work on IT development projects have the difficult task of translating the scope of a project into an accurate estimation of costs and scheduling. This can be especially challenging when using Agile development methods, which tend to evolve over time. The goals of cost estimating for IT projects are similar to the goals of cost estimating for other types of projects. These goals include matching resources with a project timeline, creating an accurate budget, helping define the scope of a project, and avoiding cost overruns. For these projects, cost estimating will likely be an ongoing process that requires consistent updates in order to maintain accuracy. As with other work estimates, maintaining detailed records can help inform cost estimations for future projects.

Construction Job Estimates

Depending on the type and scale of construction project, estimating can be a complicated process and involve multiple stages of estimation, including design-phase estimates, competitive bids, and control estimates (which are used for tracking cost performance and making adjustments during a project). Cost estimating for large-scale construction projects must account for contingencies, such as potential schedule adjustments, changes in labor costs over the course of a long project, weather issues, and other factors.

There are a couple of approaches to cost estimating for construction jobs:

  • Stick Method: This method accounts for all materials to be used on a project (including each “stick” of wood), the hourly labor required, subcontractor bids, overhead costs, and any other expenses involved in completing the job. Each item is listed and added up to show the total cost estimate. This method works well for small projects, but would be time consuming and cumbersome for larger jobs.
  • Unit Cost Method: Rather than adding up current prices for each item as in the stick method, this approach applies a unit cost to each aspect of a job. These unit costs are predetermined and can be drawn from an estimating manual. The estimate that a customer receives still includes a list of line items, but it may group them: For example, the unit cost for drywall may include the cost for all materials required to install it, rather than list each one as a separate cost. By grouping project elements, this method saves time. Moreover, the use of past experience helps determine an accurate cost of labor.

Both estimating systems would also include a markup of the final price. Submitting a low estimate may help a contractor get a job, but it won’t help them to stay in business. Estimates need to be realistic in order to keep both vendors and customers happy.

Estimate Software: Pros and Cons

Because cost estimating can be highly complex, some businesses may choose to use software to help manage the process. Larger companies dealing with multiple, large-scale jobs may find that using software is more efficient, cost effective, and accurate, due to a reduction in human errors. However, the costs associated with software may outweigh the benefits for smaller businesses or independent contractors. Using software may also involve a learning curve and require frequent updates in order to stay current, especially in industries that are continually evolving. Before investing in estimating software, explore the benefits and drawbacks of different tools, read consumer reviews, and try a free trial if possible before committing to a certain product.

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FAQs

Does Google docs have an estimate template? ›

Google Sheets Contractor Estimate Template

It is a compact estimate template that fits perfectly to fill all your business needs. Its advanced features help you create and issue accurate estimate in seconds.

How do you create an estimate? ›

5-Step Process to Creating Estimates
  1. Evaluate the Job. Take some time to think about the job to be done. ...
  2. Provide a High-Level Overview. ...
  3. Present Alternative Estimates for Different Scenarios. ...
  4. Include Necessary Disclaimers. ...
  5. Convert Your Estimate to an Invoice.
26 Sept 2019

What are the 4 types of estimating? ›

In this article, we'll cover the following types of estimates:
  • Preliminary Estimate.
  • Detailed Estimate.
  • Quantity Estimate.
  • Bid Estimate.
28 Mar 2019

What are the three types of estimating? ›

There are three types of estimates that can be used to communicate costs to clients, including ballpark, budgetary, and definitive.

How do you do an estimate on Google Docs? ›

How To Create Estimate Sheets In Google Docs
  1. Develop A Professional Letterhead. ...
  2. Provide Clear Labels. ...
  3. Itemize Its Details Properly. ...
  4. Include Your Business's Accreditations. ...
  5. Sign & Send The Form.

What is an example of an estimate? ›

Estimation its often done by sampling, which is counting a small number of examples something, and projecting that number onto a larger population. An example of estimation would be determining how many candies of a given size are in a glass jar.

What is an estimate sheet? ›

An estimate is a document that breaks down approximately how much a job or project will cost. In addition to providing the project's total price tag, an estimate usually details the project timeline, the materials that will need to be purchased, the terms and conditions, contact details, and other relevant information.

How detailed should an estimate be? ›

Any professional job estimate or quote should be highly detailed. Details should include labor, materials, and any costs that may be necessary. By giving your customers insight to all of the details, you give them peace of mind. They want to know that you're looking at the project from every angle, just like they are.

What is the quick method of approximate estimate? ›

Approximate estimate is preliminary or rough estimate. It is used to find out an approximate cost in a short time and thus enable the responsible authority concerned to consider the financial aspect of the scheme for sanction to the same.

Which type of estimate is the most accurate? ›

Definitive estimate:

Typically, bottom-up estimates are placed in this category – the most accurate estimate is a definitive estimate, since the way to create one is to estimate the individual costs for the different parts of the project and then put them together into one estimate.

What are the basic types of cost estimating? ›

Below, we explore four of the most common cost estimation techniques that you can leverage.
  • Analogous Estimating. ...
  • Parametric Estimating. ...
  • Bottom-Up Estimating. ...
  • Three-Point Estimating.
11 Nov 2019

What is a Level 1 estimate? ›

Class 1 estimates are prepared in great detail, and thus are usually performed on only the most important or critical areas of the project. All items in the estimate are usually unit cost line items based on actual design quantities.

What types of costs should we estimate? ›

5 Types of Cost Estimates
  • Factor estimating. ...
  • Parametric estimating. ...
  • Equipment factored estimating. ...
  • Lang method. ...
  • Hand method. ...
  • Detailed estimating.
22 Jan 2022

How do you make a formula sheet? ›

Google Sheets: Creating Simple Formulas - YouTube

How do you calculate cost per sheet? ›

How to Calculate Sheet Cost by Cwt
  1. Find the total weight of all the sheet-based products you want to buy. ...
  2. Divide the total number of pounds by 100 to find the CWT or "hundredweight" of the sheets you need to buy. ...
  3. Divide the total cost of your sheets by the number of CWT you calculated to find the cost per CWT.

How do I make a calculator in Google Sheets? ›

Using a Google Sheet As a Calculator - YouTube

How do you write out a price quote? ›

How to Create a Quote in 5 Easy Steps
  1. An itemized list of goods and/or services requested by the client or customer.
  2. Prices for each item including labor costs, taxes, and discounts.
  3. Disclaimers on the scope of the product or project.
  4. Company branding in the form of a logo or letterhead.
20 May 2021

How do you write a construction quote? ›

How to Write a Construction Estimate in 8 Steps
  1. Review The Scope of The Project.
  2. Provide a rough timeline.
  3. Determine What Work You Need to Subcontract Out.
  4. Put Together an Estimate of The Cost of Materials.
  5. Check Out The Competition.
  6. Outline Your Terms And Conditions.
  7. Make Your Estimate Professional.
  8. Submit Your Estimate.

How do I change currency in Google Sheets? ›

To apply a custom currency format to your spreadsheet:
  1. On your computer, open a spreadsheet in Google Sheets.
  2. Highlight the data you want to format.
  3. Click Format. Number.
  4. Click Custom currency.
  5. Search in the menu text box to select a format. You can also add your own custom currency format into the text box.
  6. Click Apply.

Where is the estimators workbook in Excel? ›

The estimator workbook contains the data for calculating project estimates. It is an Excel workbook (efforttemplate. xls) and is supplied with the reports templates in the folder tps\config\enterprise\reports.

How do you calculate construction cost per square foot in Excel? ›

Cost of construction = Area of plot x Construction rate per Sq.
...
The average cost of construction is about 1000 to 1500 Rs. Per sq. ft.
  1. For Normal Quality Construction =1000 Rs./Sq. ft.
  2. For Medium Quality Construction = 1200 Rs./Sq. ft.
  3. For High Quality Construction = 1500 Rs./Sq. ft.

What should a contractors estimate include? ›

It includes quotes received from suppliers for raw materials, proposals from subcontractors for their portion of work on the project, and estimates of labor costs, taxes, and other overhead. It also includes a markup of the contractor's profit.

What is the difference between an estimator and an estimate? ›

1 . An estimator is a function of the sample, i.e., it is a rule that tells you how to calculate an estimate of a parameter from a sample. . An estimate is a Рalue of an estimator calculated from a sample.

How do you start an estimate letter? ›

How to write a price estimate letter in 7 steps
  1. Create a header. ...
  2. Share a professional greeting. ...
  3. Write an opening paragraph. ...
  4. List item price details. ...
  5. Add a closing paragraph. ...
  6. Include any enclosure notations. ...
  7. Proofread closely.
2 Sept 2021

How long should an estimate be good for? ›

Most quotes are only good for one month. This can change based on who offered the quote and what that company's policies are. If it has been more than one month since a quote was issued, verify that it is still valid with the company before moving forward. In some cases, it may be honored.

How do you write a cost proposal? ›

  1. Review the Project Scope. Don't start writing your estimate until you understand what your client wants. ...
  2. Estimate a Timeline. An estimate only needs an approximate timeline. ...
  3. Price Out Subcontractors. ...
  4. Estimate Material Costs. ...
  5. Check out the Competition.
28 Mar 2019

Do you put payment terms on a quote? ›

It's also recommended to include your payment terms, including discounts and late fees on your quote. We also recommend clearly stating 'Quote' or 'Quotation' on the document to differentiate it from other sales documents and let the customer know that payment is not required.

How do you prepare a project estimate? ›

  1. Step 1: Compile a list of tasks and the resources required to complete them. ...
  2. Step 2: Identify and allocate resources to tasks based on your team's capacity. ...
  3. Step 3: Estimate the task length to create a project schedule (with some buffer) ...
  4. Step 4: Calculate the project cost based on a chosen estimation method.
1 Sept 2020

How detailed should an estimate be? ›

Any professional job estimate or quote should be highly detailed. Details should include labor, materials, and any costs that may be necessary. By giving your customers insight to all of the details, you give them peace of mind. They want to know that you're looking at the project from every angle, just like they are.

What should a contractors estimate include? ›

It includes quotes received from suppliers for raw materials, proposals from subcontractors for their portion of work on the project, and estimates of labor costs, taxes, and other overhead. It also includes a markup of the contractor's profit.

What is an estimate in business? ›

An estimate is an educated guess at what a job may cost. It isn't binding. To account for possible unforeseen developments, you should provide several estimates based on various circumstances, including the worst-case scenario. This will prevent your customer from being surprised by the costs.

What is estimation techniques? ›

Estimation techniques are ways to create project estimates. When your client or another project stakeholder asks you to estimate an aspect of the project, these techniques help you come up with a realistic number to give them.

Who prepares the cost of estimation? ›

A cost estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator, or electrical estimator, or chief estimator.

Which is the best approach for estimation? ›

10 best practices for project estimation
  • Be honest and accurate about the figures. This is the first step. ...
  • Clarify assumptions. ...
  • Adapt to the available budget. ...
  • Include risks. ...
  • Check again for overlooked activities. ...
  • Break down your projects into small parts before estimation. ...
  • List and evaluate each task. ...
  • Learn from past projects.

What's the difference between a quote and an estimate? ›

An estimate is a best guess of how much a job might cost. ​ A quote is more exact. Once you've accepted a quote, the contractor has to do the work for that price.

How far off can an estimate be? ›

An estimate is just an estimate, and it can be reasonable for the final cost to be anywhere from 5% to 20% above the estimate. That's why it's always important to stick to your budget and account for a bit of cushion before you begin any project.

What is the legal difference between a quote and an estimate? ›

Estimates are a rough idea of price. They should be used as an initial GUIDE PRICE ONLY. Quotes are legally binding and should ONLY be used when you are certain of the costs involved. NEVER label a written estimate as a 'Quote' – You can be held to the figure provided.

Do contractors give free estimates? ›

Estimates are usually free for small, simple jobs like painting a bathroom. A contractor will charge for an estimate for complicated, big projects that involve detailed designs and multiple plan revisions, such as building an addition to your home.

How do contractors determine cost? ›

When creating a construction cost estimation for a project bid, data from the project's construction documents like the design estimate, subcontractor's quotes, quantity takeoffs – material costs, construction processes, direct and indirect costs and your profit margin are used to make a more detailed cost estimate.

How do I write a contractor estimate? ›

How to Write a Construction Estimate in 8 Steps
  1. Review The Scope of The Project.
  2. Provide a rough timeline.
  3. Determine What Work You Need to Subcontract Out.
  4. Put Together an Estimate of The Cost of Materials.
  5. Check Out The Competition.
  6. Outline Your Terms And Conditions.
  7. Make Your Estimate Professional.
  8. Submit Your Estimate.

How long should an estimate be good for? ›

Most quotes are only good for one month. This can change based on who offered the quote and what that company's policies are. If it has been more than one month since a quote was issued, verify that it is still valid with the company before moving forward. In some cases, it may be honored.

What is a professional estimate? ›

It's an educated guess of the potential costs and timelines, based on your expertise in the field and other similar projects you've completed. Initially, you might not have all the details you need to give a definitive and detailed quote, but you can still give a ballpark estimate. Pro Tip.

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