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Estimate Templates: Streamline Your Workflow

Robyn Neath
by Robyn Neath | July 27, 2022 | Reading time: 8 minutes

Improve your firm's profitability with simple yet powerful estimate templates that can streamline your team's processes and lower costs. Lumiform allows you to centralize all essential estimate procedures in one place with intuitive templates designed to set you as an authority in your industry.

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What Are Estimate Templates?


Estimate templates are a set of boilerplate estimates that you can use to keep your business on track. They can be used for any type of project and can help you get organized and stay focused.


Even free templates for estimates are vital because they help managers and business owners gauge whether the projects they’re working on will be profitable by showing how much money each one will cost. These custom forms are also a great way to help your company save time, money, and resources by making sure that each estimate you send out is as accurate as possible.


As a result, you can easily keep track of your assessments and financials in every area, from sales and marketing to accounting. Without them, it would be very difficult to understand how well your company is doing or where it could improve.


Estimate templates, free of charge, are even becoming more popular today because they make tracking estimates simpler, too. They can provide a template that each employee can fill out with their own personal information so that it's easy for everyone involved in the project (including management) to see where everything is at any given time. This way, there are no misunderstandings about what needs to be done next or who has already completed their part. Most importantly, these templates help you capture all of your company's needs in one place, so you can get an accurate picture of what it will cost to complete a job without having to spend time on research or calculations.


This is to make sure your company is on the same page when it comes to recovering when projects are derailed. In short, estimate templates help you avoid losing money if you have to go back and redo work because of an inaccurate projection.



How to Create an Estimate Template?


When you're a new manager or business owner, learning how to create an estimate template can seem a little overwhelming. Here are key steps you must include to make your own estimate templates for contractors cost-efficient:


  1. Make a list of all of your estimated expenses
    Enumerate all the details about what needs to be done on the project. Include as many details as possible so that everyone involved in this project knows exactly what needs to happen next and nothing gets overlooked. This can include things like shipping costs, labor fees, and other costs that may be involved in delivering your product or service.
    Include your own information to the template header, such as your name and contact number and any other relevant details like job site address or project description at the top of the estimate. This will help you stay organized and make sure that everyone knows who they're working with when they receive an estimate from you. You can also include additional information like any previous work you've done with this client or any special instructions they've given you.
  2. Find a simple but effective template builder tool
    Find a template that can help you create a spreadsheet where you can track your estimated costs over time in the simplest manner. Make sure it can keep track of how much money you've spent on each item as well as how much you have left to spend before the deadline for delivery.
  3. Start filling them in with accurate numbers
    Now that all of those details are ready for your estimate template, it's time to encode them in your template. Add estimates for things like labor costs, equipment rental fees, materials costs, and more based on what you know today (you'll update these later if necessary). Make sure you place the relevant information in the right place and use an accepted format for your industry.
  4. Be as detailed as possible
    The body section of the templates should contain all of the details about what will go into this project, such as materials needed and estimated time frames for each part. This section should be divided into subsections based on what type of project it is (e.g., one-time jobs vs ongoing services). For example: "Materials Needed" would have subcategories called "Hardware," "Software," etc. Make sure you only use plain language and avoid jargon so that even interns in your team can understand.



In this article, you will learn:


1. Essential elements that free estimate templates should have in order to be effective


2. Benefits of using estimate templates


3. The importance of only using the best audit checklists in the market




Team creating a free estimate template

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The Essential Elements to Include To Make Estimate Templates Effective


When you're using free estimate templates, there are a few essential elements that you want to include:


  • Clear and Accurate Project Scope
    All estimate templates, free or paid, should have clear, accurate numbers. They should be easy to read for the client to understand what they'll get and how much it will cost. This will help them decide if they want to go ahead with the project or not. Make sure you provide a clear description of what you'll be doing for your client in your templates, including any materials or equipment you'll need to complete the project.
  • Established Contract
    Next, make sure you have a contract in place before starting any work on the project. This will help protect both you and your client from any misunderstandings or disagreements as time goes on. Make sure that there is a place for people to sign and date their agreement with your company and agree on payment terms before moving forward with any work involving this project.
  • Timeline
    The timeline will include the dates for completing each stage of the project and deliverables, as well as how long it will take to complete the entire project. You should also include in the contract an explanation of how long it will take for each service to be completed, as well as any other disclaimers, waivers, and relevant reports about the project.
  • Cost Breakdowns
    Break down how much your services will cost over time, including labor costs and materials costs. If applicable, include any additional expenses like travel or shipping.
  • Budgeting Options
    If you're working on a budget with this client, let them know in your estimate sheets what their options are when it comes to pricing out different aspects of their projects.

  • What Are the Benefits of Using Estimate Templates for Contractors?


    Estimate templates have plenty of benefits to help managers, business owners, and contractors create estimates that are easy to read, accurate, and professional. Other than saving company time and money, free templates for estimates also give contractors a well-rounded view of the project at hand.
    Here are Lumiform's other benefits:


    1. Synchronicity
      When it comes to estimate templates, it's important that everyone has access to the same set of data sets. This will make it easier for people in different departments to work together without having to do much research on their own. This will also help ensure consistency between projects, which is important for ensuring quality control across your entire organization.
    2. Seamless Collaboration Across Teams
      Your team, as well as clients or customers, might need additional information from other departments before making decisions about their projects or purchases. If everyone has access to these templates then they can easily share information with each other without having to conduct time-consuming meetings.
    3. Fastest Turnaround Time
      Managers and business owners can create estimates with custom templates in a matter of seconds, making it easy for them to stay on top of their business or career. That's because using accurate, consistent estimates lets you use the same template for all of your projects, so you save time and won't have to think about how to write each one from scratch. When you're working with a client who doesn't know what they need in terms of an estimate, this can be very helpful. You can just send them a link or attach the document and let them read through it at their leisure. With this, they can still get an overall view of their company, so they can see how much money is coming in and going out during the process.
    4. Error-Free Consistency
      The most important benefit of using estimate templates is error-free consistency. When you use a template to create your estimates, you know that all critical information will be provided with the same accuracy, which helps to ensure that your business operates in a consistent manner. This is especially important when it's time to create an invoice or send an email to discuss adjustments.


    Using Lumiform can help you in all these areas to make sure that your estimate templates are form-fitted to your own management style or business structure. It can even offer templates that you can customize and use over and over again with just a few clicks.


    Lumiform also provide teams and managers with an expansive library of ready-to-use estimate checklists for every need, from small groups to large corporations.
    Here are more benefits to enjoy from using Lumiform's vast gallery of pre-made estimate templates:


    • Exceptional User Interface — Lumiform provides a user interface that is intuitive and allows you to create checklists that map out an accurate scope of your estimates without code. No HTML coding skills or other complicated programming knowledge is needed to use Lumiform.
    • Comprehensive But Concise — Using Lumiform enables you to complete your estimate planning faster and error-free, increasing your team's productivity and efficiency tenfold.
    • Accessible Anywhere and at a Low Cost — Let everyone in your team access Lumiform's templates even if they live in different countries. Close sales faster by letting clients read and make changes in an instant.
    • Form-fitted To Your Business — Lumiform offers contract templates in different languages, which include everything from calculating totals to large-scale tax calculators. You can choose which template meets your unique team's needs and requirements and then customize it by adding in additional fields or deleting others as required.
    • Faster Business Growth — because you're using the power of state-of-the-art automation technology, you can process your licenses, quotes, and deliverables up to 30%-40% faster than before, scaling your business faster.


    Man discussing estimate templates

    How Using Lumiform Can Increase Your Business' Profitability


    Lumiform provides users thousands of ready-made and fully customizable templates that modernize and digitize your team's work and the overall operation of your business. Lumiform's features are available right from your smartphone or tablet - online or offline. Create checklists for you and your team to quickly collect data which can reduce potentially costly errors and save your team time, and your business, money!


    • Our templates are always free, and the same goes for all other resources that Lumiform has to offer! For example, if you operate a restaurant, you must be familiar with routine inspections for health and safety. By using our Restaurant Inspection App, you can cut down the time and effort it would normally take you to conduct these inspections, saving you money and increasing your business' efficiency.
    • Lumiform offers thousands of free and ready-made templates to choose from so that you can easily and securely go paperless in the workplace.
    • With the convenient mobile app, you and your team can stay organized and have access to all of your Lumiform data right at your fingertips!
    • All results are automatically summarized in a report which can then be sent to members of your team instantly.
    • Comprehensive and automated analyses help you stay vigilant to any possible threats or errors in the workplace to help you run your business safer and smoother.



    Money saved by using Lumiform's free estimate template


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Robyn Neath

Robyn Neath

Robyn started her writing career after receiving her screenwriting diploma from InFocus Film School in Vancouver, BC. She has since worked for esteemed sports, casting, and news organizations. When she isn’t concentrating on generating content with Lumiform, she enjoys working on her sitcom scripts and entering them into writing competitions. She has a strong interest in the arts, and can usually be found re-watching Frasier or stumbling her way through The New York Times daily crossword.

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