Wyatt Knight Full Basement Remodel Webinar Debrief

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Hi Folks,

I would like to thank everyone that tuned into last week’s Webinar, “Full Basement Remodel”, we had another great turnout!  Industry expert Wyatt Knight took the reigns again giving us a complete walkthrough of a basement remodel estimate. After watching, I figured I’d share a few of my takeaways!

 

Compartmentalize your project

  • It can get messy if you add all your parts to the main project. If you’re doing a multi-room remodel, you don’t want everything clumped together. A great way to avoid this is to add “Components”. Picture a component as a specific room in that remodel you are working on. Any parts you add to your individual components, will be viewed in that component. Whenever I estimate, I add components for each segment of the job – kitchen, upstairs bath, laundry room etc. This makes it easy for me to go in and edit each one.
    • You can find this feature by going to: Project > Scroll to bottom of page > Click “Add Component” on the right side.

 

Pre-Build Some Templates

  • It pays dividends to put in the work early. I would recommend building some templates right off the bat. For example, if you are a remodeling firm that does a lot of basement jobs, build a few basement templates to the general specifics you think are good for your clients (Electrical, Plumbing, Flooring). This way, when you go to create an estimate, you can simply add the template and fine tune it for each client. Remember, the templates will include all the parts needed for the estimate, all you need to do is add the Sq.Ft.
    • You can find this feature by clicking: “Templates” on the top right side of your screen > Clicking “New”

 

Don’t Neglect the Markup

  • This is how your business makes money. If you bring down the markup, you make less money, if you make it too high, you scare away potential clients. The number is up to you, but it is important to put some time into thinking about this one. We leave the markup at 50%, but have seen it fluctuate up to 80%. It just depends on your business, the remodel, your market, and many other factors.
    • You can find this feature by clicking: The “Project” tab > Scrolling down to where you see “Markup” > Adjusting using the “+” or “-”

 

Alternates

  • If your client can’t decide on one option, but would like an estimate for a few different remodels, Alternates have you covered. Alternates act just like Components, simply enter your parts and click save. An Alternate only becomes active if you change the “Undecided” tab to “Accepted”. In your report, the client is able to view an estimate for the Alternates without it affecting the actual cost of the project. When the Alternate is “Accepted” it will be brought into the actual cost of the project.
    • You can find this feature by clicking: The “Project” tab > Scrolling down to “Alternates/Components” > Clicking “Add Alternate”
    • To accept the alternate click: Your Alternate, it will highlight > Select the blue “Edit” button > In the top left of your parts box click “Undecided” and change to “Accepted”

 

Use these tools to create faster, more efficient estimates for a remodel. If you get stuck, though, please don’t hesitate to contact us, or watch some of our tutorial videos, we’re here to help!

Click for Webinar

Click for Tutorial Videos

 

 

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