I want to tell you a story. A few years ago, I met an electrician—let’s call him Mike. Mike was good at his craft. He could wire a building blindfolded, troubleshoot circuits in his sleep, and install panels with precision. But when it came to bidding jobs, he was drowning.

He’d bid too high and lose the job. He’d bid too low and lose money. And when he did win a project, he’d often find himself working harder than ever—just to break even.

Mike’s problem wasn’t his skills as an electrician. His problem was simple: he didn’t know how to estimate.

And let me tell you something—most electricians don’t.

That’s why I’m here. Because if you want to succeed in this business, if you want to stop leaving money on the table, stop working for free, and start running a profitable operation, you need to learn how to estimate like a pro.

And today, I’m going to show you how.

The Problem with Bad Estimating

Most electricians do one of two things when it comes to estimating. They either look at a job and throw out a number based on what they “think” it should cost, or they copy a price from a similar job they did last year and hope for the best.

That’s not estimating. That’s guessing. And guesswork leads to disaster.

Every job is different. A project that looks simple on paper can turn into a nightmare when you hit unexpected site conditions—old wiring, concrete walls, last-minute design changes.

If your estimate isn’t built on real numbers, your profit will disappear before the first wire is even pulled.

So let’s fix that. Let’s break down exactly what it takes to create a rock-solid estimate—one that protects your bottom line and gets you paid what you’re worth.

Step 1: List Every Material

An estimate starts with knowing exactly what you’re installing. That means looking at the plans and listing every single material you’ll need—conduit, wire, panels, outlets, switches—down to the last connector.

Because if you forget it on your estimate, guess who’s paying for it? You are.

I’ve seen electricians bid a job, win it, start the work, and then realize—“Wait, I didn’t account for extra conduit supports. I didn’t include enough wire. I didn’t think about the added breakers.”

At that point, you’ve got two choices: Eat the cost or beg the customer for more money.

And let me tell you, going back to the customer mid-job to ask for more money? That’s a fast way to lose their trust.

Step 2: Calculate Labor the Right Way

Labor isn’t a random number you slap onto an estimate. It’s a science.

Let’s say you’re installing 500 outlets. How long does it take to install one? Three minutes? Five minutes? Multiply that by 500, and suddenly you know exactly how many labor hours the job requires.

Now, do the same for every item—conduit runs, panel terminations, wire pulls. When you add it all up, you don’t just have a number—you have a plan. You know exactly how much work this job requires, and that’s what separates a professional estimator from a struggling contractor.

Step 3: Factor in Overhead

Most electricians forget this part. They think, “Okay, materials plus labor—that’s my price.” Wrong.

Do you have a truck? Do you have insurance? Do you pay for software, an office, even the gas it takes to get to the job site? That’s overhead. And if you’re not including it in your estimate, you’re paying for it out of your own pocket.

And that’s why so many electricians are stuck, working their tails off but barely making ends meet. They’re charging just enough to cover the job, but not enough to cover their business.

Step 4: Price for Profit, Not Just to Win

I see this all the time. An electrician adds up their costs and says, “I’ll just add 10% for profit.”

Let me ask you—when was the last time you worked for just 10%?

Profit isn’t just extra money. It’s what allows your business to grow. It’s what lets you buy better tools, hire help, and take on bigger jobs.

If you’re not pricing your jobs for profit, you’re not running a business—you’re running a charity.

And here’s a hard truth: customers will never tell you, “Hey, your price is too low—charge us more!” No. They’ll take the deal, and you’ll be the one struggling to make ends meet.

So here’s my advice: Charge what you’re worth. Price your jobs to make a living, not just to get by.

The Secret to Winning More Bids

Now, some of you might be thinking, “If I charge more, won’t I lose jobs?”

Not if you do it right. The lowest price doesn’t always win. The best bid wins.

When a client looks at two estimates—one that says, “Electrical work: $20,000,” and another that breaks down the costs, explains the work, and looks professional—which one do you think they’ll trust?

The one that shows its work.

Be the contractor who educates the client. Show them the value of what you’re doing. Help them understand why quality costs more. And you’ll win more bids—without being the cheapest guy in town.

Final Thoughts: Take Control of Your Estimates

Estimating isn’t just about numbers. It’s about control.

It’s about knowing, before you even start a job, that you’re going to make money. It’s about having confidence in your price, in your process, and in your business.

When you master that, you stop struggling. You stop guessing. You start winning.

So the next time you sit down to price a job, don’t just throw out a number. Estimate like a pro.

Join Our Masterclass in Electrical Estimating

If today’s talk made you realize that estimating is your weak spot, I have good news. We’ve created a Masterclass in Electrical Estimating designed for electricians, contractors, and project managers who want to bid smarter, win more jobs, and maximize profits.

In this program, you’ll learn:

  • How to break down blueprints and complete accurate takeoffs
  • How to calculate labor, overhead, and profit the right way
  • How to create professional estimates that clients trust
  • The secrets to winning more bids—without cutting your prices

This is the exact system used by top estimators and electrical contractors to run successful businesses. If you’re tired of guessing and ready to start estimating like a pro, sign up today.

Because the only thing standing between you and a profitable business is the way you estimate your jobs.