When it comes to classic car restoration, understanding the difference between Fixed Price (FFP) and Time and Materials (T&M) pricing models is crucial. At our shop, we operate exclusively under a Time and Materials model, ensuring transparency and flexibility throughout the restoration process.
Understanding the Time and Materials Model
Unlike Fixed Price contracts, where a set cost is determined before the project begins, the T&M model calculates costs based on the actual time spent and materials used. This approach allows for greater accuracy in pricing, especially for complex restoration projects where unforeseen challenges often arise.
Advantages of the Time and Materials Model
Flexibility in Project Scope – Classic car restorations often involve hidden issues that emerge during disassembly. A T&M model allows for adjustments as needed without limiting the quality of work due to budget constraints.
Transparency in Costs – Clients pay for the actual labor hours and materials used, ensuring an honest and fair pricing structure. Learn more about why T&M pricing is preferred in complex projects.
Higher Quality Workmanship – Fixed price models often encourage cost-cutting measures to stay within budget. With T&M, every aspect of the restoration receives the necessary attention without compromise.
Why Fixed Price Doesn’t Work for Restorations
A Fixed Price model might work for standardized manufacturing projects, but restorations are unique and unpredictable. Attempting to estimate a firm price beforehand can lead to rushed work, unexpected additional costs, or even unfinished projects when unforeseen challenges arise.
By choosing a Time and Materials model, you ensure that your restoration receives the time, craftsmanship, and materials it truly deserves. Have questions about our pricing? Contact us today to discuss your project!
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