Most often than not, when customer’s sends you a request for quotation (RFQ), it means they’re interested in purchasing your products or hiring your services. If you think for a second this automatically means a sale or a contract, you’re wrong. A deal with a customer or client is either won or lost at this stage so it’s crucial to get it right when creating a quotation.
5 Steps to Create a Simple Quotation
Step 1: Know the Difference Between Quotes and Estimates
Price quotes are especially important in service businesses so if you’ve just started one, it pays to know how it differs from an estimate. The latter has little to no legal value while a quote is considered a fixed price which means you’re not allowed to charge more for the service than what you have quoted.
Step 2: Think About Pricing
Since price quotes are legally-binding, you have to carefully consider every quote you provide your clients. This boils down to pricing techniques which includes understanding what the work demands and meeting project deadlines. Otherwise, you risk overestimating your capability to finish the job which can cause paying extra fees out of your own pocket to contract workers.
Step 3: Set Updated Prices
Research market prices and go over your fixed and variable costs as well as labor costs and material. Don’t leave anything out, especially currency exchange rates. Going overboard with your prices will make your customer go to the next available businessman who can provide reasonable prices. Without making it obvious, your pricing can still present a sensible profit margin.
Step 4: Make It Professional
Making your price quote look professional is making it official. It’s not the lack of its being inherent but adding the company logo does a fine job of giving the document an added professional flair. You can also add other important business information on the heading such as business phone number, office hours and address.
Step 5: Ask Questions
To complete a fair and professional quote, ask questions just to be sure that you haven’t missed any key component before sending it out. For instance, will your client be responsible for purchasing some of the materials needed for an interior design or kitchen remodeling project? It’s important to settle these things so that you can quote them properly.
10+ Simple Quotation Templates
1. Work Quotation Template
Appropriate pricing is essential for any business to grow. Get a standard price quote which is ideal for any type or service or goods your company provides. Download this work quotation template which allows you the freedom of modifying the content to fit your pricing needs. The file runs in printable Google Docs, MS Word and Pages formats.
2. Maintenance Quote Template
About to do business as a service provider with another company? You’ll need this high-quality business quotation format template for the first stages of your transaction, if your potential client haven’t requested one. Download the file in its flexible formats and print anywhere, anytime in any compatible device!
3. Interior Design Quotation Template
Complete your interior design pitch with this thoroughly put-together interior design quotation sample and you’ll find that it would be easier to convince your client to get a deal done with you. Get this template in any of MS Word, Pages and Google Docs then waste no time in editing it as you see fit!
4. Business Quotation Format
Want to make sure that your price quote for business is done right? Close more deals with this professional sample business quotation. It gives you a great format guide so that you can also write your own price quote correctly and complete with all the components it requires. Go ahead and download this document now!
5. Price Quotation Template
If you received an RFQ (Request for Quotation), you can’t celebrate just yet. Make sure to win the client’s business by putting together an organized and reasonable price quote. Need help? You can make use of this price quotation template available to download in MS Excel, MS Word, Numbers and Pages.
6. Plumbing Work Quotation Template
You can bet most plumbing works require fees that might not look fair to the client. This is why you’ll need a price quote with figures that didn’t come out of thin air. Fortunately, you’ll be able to use templates such as this plumbing work quotation sample which you can access and print easily.
7. Free Web Design Quotation Template
In need of pricing a certain web design service? Don’t worry. With the help of this sample web design quotation, you’ll be able to present a price quote that the client can surely work with. Just download this template in Google Docs, MS Word, Pages, Google Sheets, MS Excel, Numbers and PDF.
8. Free Simple Quotation Template
Having a goods or services business (or both) requires submitting quotes for those who wants to do business with you at the right price. Present a standard document such as this simple quotation template to make sure you’ve got everything covered. Just click on the download button and you’re all set!
9. Free Business Quotation Format
Are you in a hurry to deliver a business quote to a customer? Don’t panic because with this business quotation sample, you’ll have a proper guide in quoting for whatever the service requires. You can easily modify the file according to the needs of your client after you download and print it!
10. Sample Request For Quotation
Efficiency in service work requires giving the right price. To ensure you don’t overprice or lose profit in the final stages of closing a deal with a client, use this sample quotation as your guide. Instead of starting one from scratch, you’ll be able to make your work easier by downloading this template.
11. Request For Quotation Sample
Are you looking to ask for the a reliable service quote? In that case, you can take advantage of this request for quotation template which you can easily get in its flexible format. All you have to do is click on the download button after you modify the file based on your pricing priorities.