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Want to know how to quote your good faith services professionally? Learn everything you need to know about creating clear, accurate good faith estimates, and discover a better alternative to traditional estimate templates.
A good faith estimate is an essential step in setting the right expectations with your clients from the very beginning.
It lists all the expected costs and services in a straightforward way, helping clients feel confident about moving forward.
A good faith estimate template also minimizes confusion, prevents disputes, and serves as a point of reference if questions arise later on.
Using an estimate template can also make the quoting process faster and more reliable. It helps you cover all important details, keeps your pricing structure clear, and gives your business a more professional appearance.
In this guide, you'll learn what a good faith estimate should include, how to customize it to different industries, and common pitfalls to avoid.
Plus, we'll show you why moving to estimating software could make creating and managing estimates even easier.
A good faith estimate template is a structured document used by businesses to offer clients an upfront breakdown of anticipated costs and services.
It describes the type of service provided, estimated fees, additional charges that might arise, and important terms or disclaimers. For industries like healthcare, it might also include an explanation of billing practices and potential out-of-pocket costs.
Templates like these are critical for businesses that value transparency and customer trust. By providing a professional and standardized estimate, you reduce the risk of misunderstandings, help clients plan their budgets, and show that you take their concerns seriously.
In a competitive market, being upfront and organized is a major advantage. And with the right tools, you can make preparing good faith estimates faster, easier, and even more professional.
Accurate and clearly written good faith estimates help set expectations, build trust with clients, and create a solid foundation for every project.
When you send a professional good faith estimate, you show your clients you're you take their concerns seriously. It tells them you're organized, transparent, and committed to outlining costs and timelines from the beginning.
Most clients want to know what they're spending their money on, what services are included, how any extra charges might come up, and what the estimated total will be. A good estimate answers these questions upfront and removes the uncertainty that can make clients hesitate.
It also protects you as a business. Laying out the scope of work ahead of time helps you manage expectations, document agreed-upon services, and handle changes the right way if anything shifts later. Having a written estimate in place makes it much easier to address additions, revise pricing, or resolve any disputes.
The type of estimate you create depends on the kind of service you provide, how complex the work is, and what your client needs to feel confident moving forward. Choosing the right format makes your quotes more accurate and helps prevent problems later on.
Here are some of the most common types of good faith estimates:
For straightforward, one-time services like a standard physical exam, a legal consultation, or a single-session therapy appointment, a simple estimate gives clients a clear, flat cost.
When services involve multiple steps, like a medical procedure with pre- and post-care or a legal matter involving filings and court appearances, a detailed description helps. This estimate format lists each phase, anticipated costs, and possible additional expenses, giving the client full visibility into how charges could evolve.
For services billed by the hour (such as therapy, consulting, or ongoing legal work), it's common to estimate the expected number of hours along with a total range.
In industries like healthcare, bundled estimates group services into a flat-fee package, for example, all pre-op and post-op visits for surgery or a counseling package with a set number of sessions.
For healthcare providers especially, it's important to separate what's expected to be billed to insurance from what the patient is responsible for paying. A good faith estimate might show both the estimated insurance coverage and the anticipated out-of-pocket costs.
In situations with a lot of unknowns, such as ongoing therapy where the length of treatment can't be predicted or legal cases with uncertain outcomes, providing a cost range helps clients understand the potential variability without locking you into a firm number.
Here's what every good faith estimate template should include:
Start with your company name, logo, address, phone number, email, and any relevant license, certification, or insurance details.
Include the client's full name, service location (if applicable), phone number, and email address. Accuracy here is very important, especially when handling larger projects or coordinating with multiple parties.
Assign a unique estimate number and include the date it was issued.
Provide a clear, brief description of the services you're offering. No matter if it's consulting, healthcare services, or project work, give clients a snapshot of what the estimate covers without overwhelming them with too much detail.
Break down the specific services or deliverables. For example:
If materials, supplies, or specialized equipment are part of the job, itemize them here. Include any important details like product brands, quantities, or descriptions if relevant.
Explain how labor is charged. Is it hourly, per service, or flat rate? If multiple team members are involved, note that, too, along with any relevant rates or estimated hours.
List any extra costs upfront, such as travel fees, administrative charges, or rush service fees. Being transparent here helps avoid any awkward conversations later.
Provide an expected start date and how long the project or service will take. For longer engagements, you can also add important phases or milestones to make sure everyone is on the same page.
Outline how and when you expect payment. Mention deposit requirements, balance due dates, and accepted payment methods (credit card, bank transfer, check, etc.). If there are late fees or payment terms, make sure they're noted.
Include important policies here, such as what's included, what's excluded, cancellation terms, warranty or service guarantees, and any disclaimers.
Indicate how long the estimate is valid, usually 15 to 30 days.
Leave space for both you and the client to sign and date the estimate once accepted. A signed estimate helps formalize the agreement and reduces the chance of disputes.
Estimate templates are a practical and efficient tool for any provider because they save time, reduce errors, and can be fully customized to match specific business needs.
The easiest way to create a professional estimate for a project is by using a pre-made estimate template. Ready-to-use templates help professionals include all necessary project details without the hassle of building an estimate from scratch every time.
All they need to do is download an estimate template for good faith services, fill it out, customize it with company branding, and send it to the client.
A solid good faith estimate template saves time, improves clarity, and makes your proposals look more professional. Here's how to create one that works.
1. Find a Reliable Estimate Template – Look for an estimate template that suits your needs. You can find free good faith estimate templates in Word, Google Docs, Excel, or Google Sheets.
2. Select the Right Template – Choose a contractor estimate template that allows you to include all necessary details, such as labor, materials, and project timelines.
3. Fill in Basic Information – Enter essential details like your company name, logo, contact information, and project description.
4. Customize and Brand Your Estimate – Adjust the template's color scheme, fonts, and layout to match your company's branding. Add your website URL, business license number, and any other relevant details.
5. Fine-Tune the Cost Breakdown – Make sure the itemized list includes all necessary categories, such as labor costs, material costs, subcontractor fees, and permit costs.
6. Review the Format and Layout – Before sending the painting estimate to your client, double-check for accuracy by:
These platforms offer customizable contractor estimate templates that professionals can quickly adjust to meet the needs of different projects.
With estimating software, all a contractor needs to do is enter business details, adjust the layout, and input the required cost breakdown.
Once the estimate template is set up, it can be saved for future use, allowing estimates to be generated in just a few clicks.
Using estimate templates or our Estimate Maker speeds up the process and assures that every contractor estimate is professional, accurate, and easy to understand.
A one-size-fits-all estimate might work in a pinch, but if you really want to stand out, it's worth tailoring your estimate to each project.
Customization is all about making sure the estimate speaks directly to the job at hand. A kitchen remodel is going to need a very different breakdown than a roofing repair or a full home addition.
Here's how to customize your estimate template effectively:
Make sure the project description reflects the work you're quoting. Skip the generic descriptions and be specific. For example, instead of saying "interior work," say "install drywall in the living room and paint two coats in a neutral color."
Every job has its quirks like special equipment, hard-to-source materials, or extra labor needs. So, make sure these are reflected in the line items. If there are optional add-ons, include them with a note so the client can make an informed choice.
Different jobs may use different billing methods: square footage, hourly rates, per fixture, etc. Adjust accordingly so that your estimate matches how you plan to track the work and bill for it.
If there are things the estimate doesn't include, like permit fees, post-job cleanup, or haul-away costs, note that upfront. It keeps expectations in check and shows that you've thought through the details.
Even simple customization like your logo, consistent fonts, and layout go a long way in building trust. You want your estimate to feel like it came from a professional—because it did.
Timing can make or break a deal, especially in the contracting world. Send your estimate too late, and the client may have already moved on. Send it too early, and you risk underbidding or leaving out important details.
Here's when to send a contractor estimate to keep things moving in the right direction:
Never guess. You'll want to walk the site (or at least have a thorough conversation) before putting together any numbers. It's the only way to give an accurate, realistic estimate.
Speed matters. Sending the estimate within a day or two shows that you're responsive, organized, and serious about the job. Plus, it keeps you fresh in the client's mind while they're still weighing their options.
This should go without saying, but it's worth repeating: always send the estimate before you pick up a hammer. It protects both sides, gives the client a chance to review everything, and lays the groundwork for a clean start.
If a client reaches out asking for a quote, don't stall but don't rush either. Take enough time to understand what they need so your estimate is accurate. A fast, thoughtful estimate can often be the thing that wins you the job over someone else who drags their feet or misses key details.
Even experienced contractors slip up when it comes to estimates, and those small mistakes can lead to big problems. From losing profit to losing trust, it's worth slowing down and getting it right the first time.
Here are some of the most common missteps to watch out for:
This one's a classic. You assume a task will take one day, but it takes three. Labor often ends up being the biggest cost on a job, so it's worth building in some buffer time, especially if subcontractors or weather delays are involved.
Permit costs, dump fees, tool rentals—these little extras can add up fast. If they're not included in the estimate, you'll either eat the cost or spring it on the client later (which never looks good).
"Install flooring" doesn't cut it. What type of flooring? How many square feet? Is underlayment included? The more detail you include, the fewer headaches you'll face later.
Don't assume the client knows how you work. Be clear about deposits, milestone payments, and when the final balance is due. Leaving this out invites late payments, or worse, no payment at all.
Templated estimates are great, but they still need to be customized. Copy-pasting from the last job without making adjustments can lead to errors or missed costs.
Prices change. Material costs fluctuate. Your availability shifts. Always add a "valid until" date so clients know the quote isn't open forever.
Avoiding these mistakes will make you look more professional and help your jobs run smoother from day one.
While estimate templates are very helpful, Estimate Maker offers a more efficient and accurate way to create estimates for contracting projects. Instead of manually entering details into a template, it automates the process, saving time and reducing errors.
1. Faster and More Efficient – Pre-built templates require manual entry, while an estimate maker allows you to generate estimates with just a few clicks.
2. Automated Calculations – Reduces human error by automatically applying tax rates, labor costs, and material pricing.
3. Customization Without Hassle – Easily adjust branding, payment terms, and cost breakdowns without needing to modify a static template.
4. Better Organization – Stores past estimates in one place, making it easy to track and update them when needed.
5. Quicker Conversions to Invoices – Convert approved estimates into invoices instantly, reducing the time between estimation and payment.
6. Professional Appearance – Generates polished, client-ready estimates that look more professional than a basic contracting estimate template.
7. Time-Saving Templates – Save custom estimate formats and reuse them without starting from scratch each time.
Clear and accurate contracting estimates help set expectations, prevent disputes, and keep projects on track.
For a faster, more automated approach, Estimate Maker offers built-in calculations, easy adjustments, professional estimate templates, and much more! Plus, you can try it free for 14 days.
