I've been a sprinkler contractor for 20+ years. We're small, like me and my brother small. The biggest job I've ever had was $140,000.
When we bid we do a rough materials list, head count, and estimate the time to fit it, which varies depending on the style of building. We're fairly inexpensive compared to the big outfits, but we don't get every job we bid either.
Back 10 years ago, when a contractor would call and want a rough guess I would get the square footage, divide it by 120 ft per head and multiply by $150 per head- that price would be the system only from the base of the riser. Getting the water to the building is it's own thing and I would prefer that someone elsee does it. But we do plenty of underground anyway.
That formula is out the window mostly. When looking for a rough estimate I will give a $ per sq. ft. which depends on the building. A Butler building/ open warehouse- $2/2.25 per foot
Complicated wood framed small office $3/3.50 per foot- always from the base of the riser only.
When I do that and later on do a "real" bid I am generally within a few thousand of my first guess.
We do the design, calculations, fab and install, so overhead is nothing really.
I'm not recommending this method to anyone, just telling how I do what I do.
Alex Traw
Rainbow Fire Sprinklers
Albany, Oregon