I received this question in my email box a lot so I thought I would address it again here. It is in regards to starting a parking lot striping business and knowing where to put your parking lot striping pricing. When people are starting out they often times have no clue what to charge for their parking lot striping services. Your parking lot striping prices should be like any other project you estimate. Just use this simple formula.
Labor+ Materials+ Overhead = Pre- Mark up Total
Take that total and then next add about 20% mark-up. On smaller jobs I would even go as high as 30%. On large jobs you may want to consider 10%. Stay away from price sheet estimating. In this day and age cost are changing rapidly and it’s important to be flexible. If your need to know about what a “single white line” cost or a “no parking” stencil should cost then it’s not a bad idea to call some competitors in the area and get their pricing. I know this sounds funny but companies have been doing it since the beginning of business. Even huge big box companies like Best buy or Wall mart use these practices and that’s a good thing. It keeps business competitive and helps out the consumer in the end. Also with the economy being so wonky lately you really want to be as competitive as possible. A lot of people ask me what I charge here in California for parking lot striping. I try to explain to them that it won’t help them because every area is a little different and that local research needs to be done. But I will give you this example.
In California our minimum charge is about $300.00 but that’s mainly because of the high cost of labor and heavy traffic we have to sit in just to get to those jobs. Also consider we are a 18 year old company that has overhead a small start up wont have. That being said we also provide a level of service a small start up can not provide. Every area has its own unique economy and situations. Plus your business may have a unique situation to consider as well. Figure out what your area will bear by doing research and talking to your accounts. Also once you get your feet wet with bidding you should start to get a better feel for your local market and where you need to be to be competitive.
Feel free to post comments and ask questions. I would love to hear from my parking lot striping, sealcoating and asphalt friends out there.
Trueline Striping Inc.