Preparing quotes for your business

A quote tells your customers how much you’ll charge and what your terms of service are. If a customer accepts your quote, it becomes a legally binding contract.

Benefits of preparing good quotes

Preparing good quotes can have many advantages for your business, such as:

• being more competitive by showing a professional image
• higher profitability by offering your goods at the right price
• lower legal risk.

Tips to prepare good quotes

Developing great quoting skills is important to help you win work and build a customer base.

3 top tips to quoting:

1. put your quotes in writing to avoid confusion and misunderstandings
2. satisfy customers by better managing expectations
3. aim for a profitable return.

To learn more about preparing quotes, read the Business Queensland Preparing a business quote guide.

What to include in a quote

A well written quote shows your professionalism and protects your business from legal and financial risks. Here is what you should include on your quoting document:

• your business details
• total and the breakdown of costs
• variations and revisions
• payment terms and conditions
• preferred payment method
• schedule of work with a quote expiry date
• customer acceptance signature.

Find out more about what to include in a quote, check out the Business Queensland What to include in a quote information.

More information

• Check out our Selling goods and services information to learn more about finding customers and complying with legal obligations.
• Go to the Consumer Affairs Victoria’s Giving quotes – tradespeople and small works guide to find out about offering a quote and being a tradesperson.
• Read the Getting quotes page on the NSW Government Fair Trading website for information about getting quotes from other businesses.

Original article appeared first at Business.gov.au >

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