Running a construction business requires plenty of planning, from marketing, to bidding, and to completing projects within the given time. Construction contractors oftentimes get most of their jobs through bidding. Although builders are often trained for construction, their knowledge in bidding, as well as how to create a bid that will be acceptable to target customers are learned through experience, sometimes the hard way.
What is Construction Bidding?
The term construction bid is used to refer to the process in which a possible customer is provided with a proposal to either build or manage the construction. In the bidding process, you will need to be as accurate as possible with the cost estimate in order to bid the lowest among the contractors who submitted their bids as well. Keep in mind that when bidding in a construction project, the price is always a consideration. Of course, factors like qualifications of the company are looked into as well.
Since construction companies get their customers through bidding, having a bid calendar on hand will keep you and the rest of your team on track with regards to getting potential projects in the near future.
With companies going digital,procuring construction services are happening online as well. Although this style of procurement is relatively new, the same methods are still being used. A good example here is in the case of sealed bidding, where bidders will submit their offers in sealed envelopes. In online bidding, since there are no sealed envelopes, bidders have their own virtual boxes where they can send in their bid in private.
Digital bidding is convenient for both the customer and the contractor since the software and website will handle requests for proposals, quotes, design bids, sending of bid documents,submission of bids, as well as other steps needed in the procurement process. This allows important documents to be disseminated among interested parties quickly and efficiently.
What is a Bid Calendar?
Construction companies need to be on top of all potential projects in and around their location if they want to stay in the business longer. However, if you are simply relying on what you hear from the company grapevine, you’ll be missing out on several possible projects. This is where having a bid calendar is important.
A bid calendar, as the name suggests, is a calendar containing all available leads for construction companies. For a small fee, you will be sent crucial information which you can use to prepare for if you are interested in joining the bidding process. This will include the plans and all the bid documents that need to be completed. Construction companies are seeing the value of having a detailed bid calendar sent to them as it helps them figure out which project they will bid on and which ones they can let go. This will help increase your winning bids too which will be beneficial to your company.
Importance of a Bid Calendar in the Construction Business
If you are worried about the fee that you will have to pay to get your hands on a bid calendar, don’t be. Think of it as a stepping stone in beating your competition.
What benefits can you get when you use a bid calendar?
Regular Email alerts: Information will be sent to you through email alerts which will save you time compared to hunting down leads on your own.
Access to information: A bid calendar will contain all the necessary details regarding the upcoming bidding, from the plan, to the materials needed, as well as the bidding documents that you need to complete. Having your own bid calendar will help you and your team plan ahead so you can present the best bid to a potential client.
Convenience: Another advantage that you can get from a bid calendar is that it will save you time since all relevant bids will be sent to you. You don’t have to scour the internet or pound the pavement to look for possible construction projects since your bid calendar will be tailored to your needs.
Project reports: You will also gain access to project reports for both public and private which give you the edge against your competitors. Each report that you will get will include location as well as the contacts who you can talk to when it comes to submitting your bids.
As you can see, there are plenty of benefits to be gained when you invest on a bid calendar especially in the construction business.
After all, competition will be fierce in this field and having an edge will get you access on all relevant projects within your area without leaving your office. With just a small fee, you will be getting important information on potential customers and their plans for construction with ease.