A Quote is your estimated cost of your work based on the information you have about a project. If a customer accepts your quote, it becomes a legally binding contract (please note: if you proceed without confirmation of your quote, you may not be protected)
Preparing good quotes can have many advantages for your business: you will be more competitive, show a professional image, achieve higher profitability, offer your goods at the right price, and lower your legal risk. Develop great quoting skills can help you win projects and build a customer base.
Our top 3 tips to quoting are to:
- Put your quotes in writing to avoid confusion and misunderstandings,
- Satisfy customers to better manage expectations, and
- Aim for a profitable return to grow your business
A well-written quote shows your professionalism and protects your business from legal and financial risks. Your quote document should include:
- Your business details (business name/your name, contact information, ABN, etc),
- Dates (quotation date & expiry date),
- Quotation Number,
- Contact name & information of client,
- Total and the breakdown of costs (known as an ‘itemised quote’),
- Payment method and terms & conditions,
- Schedule of work (such as the deadline/deliverable date), and
- Customer acceptance prompt/signature field
It’s important to note that Quotes can change: you can send updated quotes as the job changes or you receive new information from your client. This may be called revisions or variations on your quote.
If you’re looking for quoting templates, you can find and download them HERE.
Click HERE for more information.