The ProfitDig Blog

Excavation work is a vital part of construction, whether you’re building a new structure or renovating an existing one. Usually in construction some dirt’s got to be moved! Excavation can be lucrative, but bidding those jobs can be tricky, especially if you’re not familiar with the process. Here are 7 mistakes that contractors make when […]

If you work in the construction industry, you know that creating estimates for residential projects can be a time-consuming and challenging process. With so many factors to consider, from labor costs to materials, it’s easy to get bogged down in the details. However, there are several strategies you can use to streamline your residential construction […]

While both a bid and an estimate involve predicting the cost of a construction project, they are not the same thing. An estimate is an approximation of the total cost of a project based on available information, whereas a bid is a formal offer to perform the project at a specific cost. A bid typically […]

Bidding on excavation jobs can be complicated. Don’t attempt to go out on your own in excavation until you have the experience to know what you are doing. Excavation job bidding involves several steps, including: Understanding the scope of the project: Before bidding on a job, you need to thoroughly understand the scope of the […]

When you are just getting started as a contractor, one of the more confusing things to deal with is how to find construction jobs to bid on. It’s not as hard as you think. There are several ways to find construction jobs to bid on, including: Online job boards and websites: Websites like BidClerk and […]

GMP (Guaranteed Maximum Price) is a type of contract in construction project management that sets the maximum price the owner will pay for the construction work, regardless of actual costs. The GMP is agreed upon before construction begins and is based on the contractor’s estimated cost of the project. The contractor is responsible for delivering […]

Using job bidding software can be beneficial for a new construction company owner. It can help streamline the bidding process and provide a more professional and accurate bid proposal. However, it is important to consider the cost of the software and weigh it against the current volume and size of your projects and the potential […]

A construction project will generally involve numerous types of specialties. Nobody knows how to do everything! That’s why General Contractors hire subcontractors to perform specific parts of the job in which they have expertise. A project generally starts by having to dig into the ground – excavation! Excavation is a specific type of construction work […]

Rapidly rising materials costs are a real concern for any construction contractor, especially in light of the price inflation we are experiencing these days. But there are strategies you can use to mitigate the risk and save your profit. Here are ten strategies you can use to account for rising materials prices: Including a contingency […]

An escrow account is essentially a savings account that’s managed by your mortgage servicer. How can this be helpful in managing the cashflow in construction? If you are thinking of becoming self-sufficient in the construction industry, investing your profits into an escrow account is one thing that you might want to consider. YOU NEED TO […]