Explain how different scenarios or variations will affect the cost: for example, with or without installation. Indicate when you will start the job and how long it will take do not under-estimate! If you win the job you will be contractually obliged to finish it in this time so make sure it is feasible.
If your schedule is based on variables, such as good weather, make sure you indicate this. Indicate when you require payment. For example, deposit, lump-sum, periodical payments, half up front and the rest on completion.
Clearly note the date you need the quote accepted by, especially if prices change quickly in your industry. Make sure you give your customer a friendly reminder before the expiry date.
Include a dated 'sign here' statement to confirm the agreement and to accept the terms and conditions. If the job changes substantially, provide a revised quote with a different reference number and ask your customer to confirm the quote before continuing work. Many businesses rely on spreadsheets and word processing tools to produce quotes. You may like to consider buying specialist quoting and estimating software — it makes the job much easier.
Topics: Quotation Software. Book a Chat. General enquiries: 13 QGOV 13 74 Home Running a business Marketing and sales Sales Preparing a business quote What to include in a quote.
Sales: the basics Preparing a business quote Before you quote What to include in a quote Tips for quoting Giving an estimate instead of a quote Create a sales plan Sales skills The sales process Sales targets. What to include in a quote A thorough, well-written quote demonstrates your professionalism, attracts new customers, meets your business's trading and consumer obligations and protects your business from legal and financial risks. A good quote will Include the following components: Business details Providing your ABN and contact information is a legal requirement.
Total cost Detail the specifics of the job and outline what the costs cover, making a note of what is not covered if you need to. Breakdown of costs Describe the job proposal, detailing the elements involved, and itemise costs for labour and materials.
Variations Explain how different scenarios or variations will affect the cost. Revisions Give yourself an opportunity to revise the quote if you find the job changes substantially once you've begun work. Schedule for work Indicate when you will start the job and how long it will take.
Payment terms and conditions Indicate when you require payments. Quote expiry date Clearly note the date you need the quote accepted by, especially if prices change quickly in your industry.
Customer acceptance signature Include a 'sign here' statement to fix the agreement, such as 'I, [name] , accept the above terms and conditions. Before you price a tender, check the instructions in your client's bid specification. These will usually detail how the costs should be displayed so that bids are easier to compare. Even if a detailed breakdown isn't asked for, it's in your interest to provide one. It can help you to win contracts by showing your client you're offering good value.
For more advice on how to price contracts, read the page in this guide on how to win contracts at the right price. In your tender document, your overall price should be set out in both words and figures.
You should also state how long your prices will be valid for. It can sometimes take a long time for tender decisions to be made - by which time your costs may have increased. It is a good idea to add a contingency for any unexpected costs or additional work that may arise. Explain where and why you have included this in your bid. Pricing a tender for the first time can be difficult as you will have no benchmark or idea of what competitors might bid.
Price is important when submitting a tender, but don't lose sight of the quality you will provide when deciding on it. Clients often consider the lifetime cost of the products and services they buy.
This includes their initial purchase cost, along with other factors such as maintenance costs, downtime costs if there's a breakdown and the cost of consumables and disposal. Make sure you don't bid too low just to get your foot in the door. Clients will be suspicious of abnormally low bids - they may doubt the level of quality you can deliver for such a price.
Remember that once you've committed to a very low price, you may find it difficult to increase your prices with this client in the future. It is therefore better to price your tender realistically, and ensure that you focus on the benefits that you can provide to a customer. Get this right and many customers will be willing to pay the price required, even if it is more than your competitors will charge.
It can be helpful to think in terms of the value of your goods or services from the customer's point of view , not your own. If you are the only quality provider of something a client really needs, it may be more valuable than you think. Your price should reflect this. Our information is provided free of charge and is intended to be helpful to a large range of UK-based gov.
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