New Instant Web Product Grabber tool makes it easy to find and add Products to BidMagic

» Power Tips: Product Pricing Strategies

BidMagic is fast and easy to use, but it is also powerful and flexible. Setting up your Products is a very important step to getting started. Here are 3 stategies to match the needs of your company as you begin:
 
Beginning User - Enter Labor Manually - Create Labor Only Items
When you first begin, If you have not yet added labor to each product, you can directly enter total job labor in the Installation Adjust +/-  yellow box in the Bid Summary section.  You can also create labor line items, such as Installation Labor or Prewire Labor. With this method, you can add 42 hours of Installation labor by adding 42 of those labor items in any room or section of the proposal. Create the Product with Equipment sell price = $0.00. Click the Labor Tab to set labor values (ie. Installation Labor = $100.00)

This method is suggested just for initial startup and will not deliver the real power of BidMagic. Enter more product and pricing detail to achieve the best results.

Note: Equipment totals appear by default on BidMagic line items in Client Bids unless you set Equipment Sell Price = $0.00 and in Print Preferences check the option to Show Labor if Equip = $0.00. Client copies will then switch to show  labor amounts on line items instead of the equipment sell price.

Standard User - Labor Hour Pricing Provides More Info and Control
When creating a product, enter a fixed amount for cable/hardware, programming  - but for installation charges set the hours used for each phase in PreWireHR, TrimHR and FinishHR. The amount you charge for each phase is set in your Default & Bid Preferences. Leave the Installation (flat rate) = $0.00. With this method, whenever you update your labor rates, it will automatically update the labor charges for each product. This also allows job reports  to print the summary of hours sold for each phase of the job.

The cable/hardware entry can contain a fixed amount you charge for wire, trim rings, connectors, etc. It can also include the charges for accessories like interconnects or similar items that you stock all the time. This method does not give you a breakdown of the included accessories. Just pull these non-inventory products from your truck and keep it simple.

Power User – Using AutoLinks For Automatic Detail of Cable, Hardware and Accessories
Setup your labor hours in the PrewireHR, TrimHR and FinishHR columns. Assign phases to all equipment for planning and ordering. Create hardware and accessories as separate model numbers. Assign the cable, hardware or other accessories in AutoLinks so they can be automatically added when needed.  For example: each  speaker autolinks to 50 Qty of a model number 16/4 cable at $0.20 per foot equipment and $0.01 per foot prewire labor. (= pull 100’ per hour)  All items will be detailed in the client proposal and installation copies. Your Purchase Orders can then calculate 1,850’ of wire sold will require 4 each of 500’ boxes.

This method gives full detail breakdowns including cable types and lengths for you and the client. The linked items can easily be edited deleted if not needed at this time. Click ‘Hide’ on unimportant parts to assign them to Cable/Hardware which keeps the client’s copy very clear and understandable.