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 winning quotes and estimates.