Preparing a business quote
Detailed, well-considered quotes win work. Knowing how to write winning quotes is an important part of growing your business. But getting your quotes right can be a big challenge. You want to win the job with a competitive price but you need to make sure your costs are covered and you make a decent profit.
Quotes showcase your approach to business and declare your costs and terms for providing your goods and services. While estimates 'guess' the costs involved in a job and are not binding, quotes offer a fixed price for products or services that - once your customer accepts - become legally binding contracts.
Learning how to master your quotes also helps protect your business from risks and losses. Quoting well involves:
- taking considered steps to arrive at a price that wins you work over your competitors
- allowing for a profitable return on your investment in the work
- describing job components clearly and accurately
- itemising any materials or resources required
- detailing your costing and taxes
- clearly defining the terms and conditions of your quote
- taking a professional, polished approach to presenting your quote.
This guide describes how to write quotes and estimates.
