Welcome to the Forum Pwaltrip:
Electricians use several methods to price their jobs and Travelover has steered you right. Some of them price the job by the number of openings, some by the number of circuts, and some by the SWAG formula (Scientific Wild A__ Guess).
You will need a new entrance, meter base, distribution panel, wire and wall and ceiling boxes. It will be very expensive; at least $4,000 and maybe up to $8,000 but it will preform well and safely, plus you won't have to worry about it again in your lifetime.
I wish you the very best with the project.