You are right, after I posted it and reread it, I noticed the same. Here is my revised formula.

(((first guess of time X 3) + 15%) x hourly rate) + materials = cost


How to determine the hourly rate in your area ? Ask a plumber, electrician, car mechanic and finish contractor in your
area what theirs are. Throw away the highest and lowest. Average the remaining 2 and use that for your hourly rate.


JAW

conehead wrote:
"JAW" wrote in message
.. .

Here is a formula that I have arrived by using my experience and the

experience of many other people who estimate work.

This formula was not derived for just woodworking, but just in general.

((first guess of time X 3) + 15%) + materials = cost

Or for those who took some sort of engineering use PI (3.14)

Remember use the first estimate of how long you think it wll take. The

multiplier of 3 is how long it will probably take

and then the 15% is for unknowns.

JAW




I think you might be missing two critically important factors. Wouldn't it
be a good idea to have an hourly cost in your formula? And your costs are
no business of your client. Your price is.

Say: ((first guess of time X 3 X $25 [or whatever]) + 15%) + materials =
price [not cost - you're trying to quote a price, not a cost].


--
Conehead