A Class "B" Contractor's License, the simplest type of contractor's license, permits individuals to engage in general contracting tasks.
This is quite near the industry-standard "10 and 10," representing 10% for overhead and 10% for profit; using this example, your combined overhead and profit, also known as gross profit or margin, would amount to 20%.
When hiring a contractor, follow these checklist tips: Get multiple estimates, hire local and licensed contractors whenever possible, check their past work, take your time making a sound decision, verify their insurance and bonding, ensure everything is documented in writing, understand your right to cancel, and avoid paying up-front.
Ensure that every estimate encompasses essential elements, including a job description detailing the work, an overview of materials and labor with associated costs, the total project cost, and comprehensive sales and company contact information.