Bid Log: Free Template for Tracking Bids and Estimates
Quick Answer
A bid log tracks every bid or estimate you send: project or customer, date received, due date, scope, estimator, bid amount, status (pending, won, lost, no decision), follow-up dates, the winning price if known and the reason you won or lost. Log bids as soon as you start them, follow up on a schedule, update status when decisions come in and review your win rate and lost-bid reasons every month to improve pricing and decide which jobs to chase.
Contractors and service businesses spend hours preparing bids and estimates, then lose track of them. A bid goes out, nobody follows up and the job goes to a competitor who called back. A bid log keeps every opportunity in one place, reminds you to follow up and shows which bids you win and why.
This guide includes a free bid log template and explains what to track, how to follow up, how to calculate your win rate and how to use bid data to price better and pick the right work.
What Is a Bid Log?
A bid log, also called a bid tracker or estimate log, is a list of every bid or estimate your business prepares, with its status from first request to final decision. It's a simple sales pipeline for project-based businesses.
Free Bid Log Template
| Bid # | Customer / project | Type | Received | Due | Estimator | Bid amount | Sent | Status | Next follow-up | Result reason |
|---|---|---|---|---|---|---|---|---|---|---|
| ☐ Pending ☐ Won ☐ Lost ☐ No decision | ||||||||||
| ☐ Pending ☐ Won ☐ Lost ☐ No decision | ||||||||||
| ☐ Pending ☐ Won ☐ Lost ☐ No decision | ||||||||||
| ☐ Pending ☐ Won ☐ Lost ☐ No decision |
What to Track
| Field | Why it matters |
|---|---|
| Customer or project | Who and what |
| Type of work | Compare win rates by job type |
| Received and due dates | Never miss a deadline |
| Estimator | Accountability and performance |
| Bid amount | Pipeline value and win rate by size |
| Sent date | Timing for follow-up |
| Status | Where every bid stands |
| Next follow-up | Keeps bids from going cold |
| Won or lost reason | What to change next time |
| Lead source | Which marketing brings good jobs |
Bid Statuses
| Status | Meaning |
|---|---|
| In progress | Estimate being prepared |
| Sent | Bid delivered, awaiting decision |
| Follow-up | Customer contacted, still deciding |
| Won | Contract signed or job accepted |
| Lost | Customer chose someone else or canceled |
| No decision | Project postponed or customer stopped responding |
| Declined | You chose not to bid |
Following Up on Bids
Many bids are won by the contractor who follows up, not the lowest price. A simple follow-up schedule:
| When | Action |
|---|---|
| 1–2 days after sending | Confirm they received it and answer questions |
| 1 week | Check in on timing and decision |
| 2–3 weeks | Final check-in; offer to adjust scope if needed |
| Before the quote expires | Remind them of the expiration date |
Sample follow-up: "Hi [Name], just checking that you received our estimate for [project]. Happy to walk through any questions or options. We can get you on the schedule for [timeframe] once you're ready."
See the contractor quote template for setting quote expiration dates.
Calculating Win Rate
| Measure | How to calculate |
|---|---|
| Win rate (count) | Bids won ÷ bids decided |
| Win rate (dollars) | Dollars won ÷ dollars decided |
| Average bid size | Total bid dollars ÷ number of bids |
| Pipeline value | Total of pending bids |
| Weighted pipeline | Pending bids × historical win rate |
Example: You decided 40 bids last quarter and won 14. Your win rate is 35%. With $300,000 in pending bids, a rough weighted pipeline is $105,000.
Track win rate by job type, customer type and estimator. You may find you win most residential remodels but rarely win commercial bids, or that one estimator's bids win far more often.
Why Bids Are Lost
| Reason | What to do |
|---|---|
| Price too high | Check your costs, scope and markup; compare with job cost data |
| Slow response | Speed up estimating and follow-up |
| Scope unclear | Write clearer scopes and options |
| Timeline | Show availability earlier |
| Relationship | Follow up and build trust |
| Project canceled | Nothing to fix; track it separately |
Ask lost customers politely why they chose someone else. Even a few answers each month reveal patterns.
Choosing Which Jobs to Bid
Every bid costs time. Your bid log shows which kinds of work you win and which you rarely do. Use it to decide when to decline. Ask:
- Do we win this type of job often enough to justify the estimating time?
- Is the job size right for our crews and cash flow?
- Is the customer likely to pay on time?
- Does the job fit our schedule?
- Is the profit margin worth it?
Bid Log and Job Costing
After a won job is complete, compare the bid with the actual cost. If actual costs regularly run above your bids, you're winning jobs because you're underpricing them. See how to track labor costs by job and time clock software for landscaping.
Bid Due Date Calendar
For businesses that bid on many projects, especially commercial or public work, missing a due date means missing the job. Keep due dates on a shared calendar, set reminders a few days ahead and assign each bid to an estimator as soon as it's received.
Example: A Painting Contractor
A painting contractor sent dozens of estimates each month but had no idea how many turned into jobs. After three months of logging bids, the owner found the company won about half of residential repaints but under 15% of commercial bids, which took twice as long to prepare. He focused sales on residential work, followed up on every bid within two days and became more selective about commercial bids. Revenue grew while estimating hours dropped.
Common Bid Tracking Mistakes
- No follow-up after sending bids.
- Not recording lost reasons.
- Missing due dates.
- Bidding every job regardless of fit.
- Never comparing bids with actual costs.
- Bids scattered across email and notebooks.
Bid Log Checklist
| Step | Done? |
|---|---|
| Log every bid when requested | |
| Track due dates and assign estimators | |
| Record bid amounts and sent dates | |
| Follow up on a schedule | |
| Update status and reasons | |
| Calculate win rate monthly | |
| Compare won bids with actual job costs |
Sample Completed Bid Log
| Bid # | Project | Type | Due | Amount | Status | Reason |
|---|---|---|---|---|---|---|
| B-101 | Smith kitchen | Residential remodel | 3/4 | $38,500 | Won | Fast response, clear scope |
| B-102 | Oak St. office | Commercial | 3/8 | $112,000 | Lost | Price; winning bid about 8% lower |
| B-103 | Jones deck | Residential | 3/10 | $14,200 | Pending | Follow-up 3/17 |
| B-104 | Lee bath | Residential remodel | 3/12 | $22,900 | No decision | Customer postponed |
This sample uses made-up projects. Even four rows show useful patterns: a residential win from speed and a commercial loss on price.
Bid or No-Bid Scorecard
| Question | Score 1–3 |
|---|---|
| Type of work we do well | |
| Profitable job size | |
| Good customer or general contractor relationship | |
| Reasonable competition | |
| Fits our schedule | |
| Clear plans or scope | |
| Total |
Set a minimum score for bidding. Jobs that score low get a polite decline, which frees up estimating time for work you're likely to win.
The Cost of Estimating
Estimating isn't free. If an estimator spends 6 hours on a bid and you win one out of four, each won job carries 24 hours of estimating time. Track estimating hours on the bid log so you know which job types are worth the effort. Hours can be tracked by job just like field work.
Lead Sources and Results
| Lead source | Bids | Won | Win rate |
|---|---|---|---|
| Referrals | |||
| Website | |||
| Repeat customers | |||
| Online directories | |||
| General contractors |
Most contractors find referrals and repeat customers win far more often than cold leads. Spend marketing money where bids turn into jobs.
Monthly Bid Review
- Update the status of every open bid.
- Calculate win rate for the month.
- Review lost-bid reasons.
- Compare completed jobs with their bids.
- Decide on changes to pricing, follow-up or target jobs.
A 30-minute monthly review turns the bid log from a list into a tool for better decisions.
Handling Bid Revisions
Customers often ask for changes or alternate options. Keep one bid number and add a revision letter (B-103 Rev A, Rev B) with the date and what changed. Record the final amount and keep earlier versions. That way, if the customer accepts an older version, everyone knows exactly what was quoted.
Commercial and Public Bids
- Watch for pre-bid meetings and site walks, which may be mandatory.
- Track addenda; bids may need to acknowledge every addendum.
- Check whether a bid bond, insurance certificate or other documents are required.
- Note the exact submission time and method. Late bids are usually rejected.
Requirements vary by project and owner, so read each bid package carefully. See the certificate of insurance tracking log.
Turning Won Bids Into Jobs
When a bid is won, move it into scheduling right away. Confirm the scope, set the start date, order materials and assign the crew. Keep the bid amount handy so you can compare actual hours and materials against the estimate when the job is done.
Pricing Lessons From Your Bid Log
Your bid log shows more than wins and losses. Look at how far off you were when you lost:
| Pattern | What it might mean |
|---|---|
| Losing by a small amount on similar jobs | Slight pricing adjustment or better value story |
| Losing by a large amount | Scope differences, overestimating or the wrong customers |
| Winning almost every bid | You may be priced too low |
| Winning big jobs, losing small ones | Your overhead fits larger work |
A very high win rate isn't always good news. If you win nearly everything, test a modest price increase on new bids. For existing customers, see the price increase letter.
Customer Communication After a Decision
- When you win: thank the customer, confirm the scope and schedule and explain next steps.
- When you lose: thank them for the chance, ask what drove the decision and offer to help in the future.
- When there's no decision: set a reminder to check in when their timeline was expected.
A professional response to a lost bid often leads to the next job, especially when the winning contractor falls through.
Bid Log for a Small Team
Even a two-person company benefits from a bid log. Assign one person to own it, review open bids at a weekly meeting and make it the single place where every estimate lives. A shared spreadsheet works well; the key is that everyone updates it.
Estimate Expiration Dates
Material and labor costs change. Put an expiration date on every bid, often 30 days, and track it on the log. When an old bid comes back to life, re-check your costs before accepting the work at the original price.
Tracking Bids by Estimator
| Estimator | Bids sent | Won | Win rate | Avg. bid | Avg. days to send |
|---|---|---|---|---|---|
Speed matters. Estimators who send bids faster often win more, and a long gap between the site visit and the bid is a common reason for lost work.
Bid Log Columns for Commercial Work
| Extra column | Why |
|---|---|
| General contractor or owner | Track relationships across bids |
| Bid package or trade | Know exactly what you priced |
| Addenda acknowledged | Avoid disqualified bids |
| Pre-bid meeting date | Required attendance |
| Bond or insurance requirements | Prepare documents in time |
| Award date | Plan crews and materials |
Commercial bids often move through several layers before an award. Track who you bid to, since you may submit the same project to several general contractors.
Forecasting Work From Your Bid Log
Pending bids give you an early view of upcoming work. Multiply each bid by your historical win rate for that job type and add up the results by expected start month. The total is a rough forecast of work coming in. Use it to decide when to hire, when to push sales and when you can afford to be selective.
| Expected start | Pending bids | Win rate | Weighted |
|---|---|---|---|
| Next month | $80,000 | 40% | $32,000 |
| In two months | $150,000 | 35% | $52,500 |
| In three months | $60,000 | 30% | $18,000 |
These are made-up figures. Even a rough forecast helps you avoid hiring too early or turning down work you could have handled.
Keeping Bid Files Organized
Store each bid's estimate, takeoffs, photos, plans and correspondence in a folder named with the bid number. When a customer calls six months later, you can pull up exactly what you quoted and why.
Getting Started With a Bid Log
- Set up a spreadsheet or app with the columns from the template.
- Enter every bid currently open, even if details are incomplete.
- Add bids from the last three to six months if you can find them.
- Set follow-up dates for every open bid.
- Log new bid requests the day they come in.
- Hold your first monthly review after 30 days.
Don't wait for perfect data. A bid log with a few months of history already shows which jobs you win, which follow-ups work and where your time is best spent. Within a year, you'll have a clear picture of your sales pipeline that most small contractors never see.
Most of all, a bid log builds the habit of treating estimates as sales opportunities that deserve follow-up, not paperwork that disappears once it's emailed. That habit alone wins more work, month after month.
Track Bids and Jobs With Updoot
Updoot's sales tracking keeps bids and follow-ups organized, and project management turns won bids into jobs. See also the sales lead tracker.