Whether you are managing a small-scale business or a large corporation, you must be perfectly aware of the importance of gaining customers through an effective quotation.
Making a quotation in Excel would be easier if you refer to our collection of quotation templates that can give you helpful ideas about quotation format, layout, and content. Scroll down below and download the ones that suit your needs!
Food Catering Quotation
What Is a Quotation?
A quotation is a document that is sent by a business to its prospective clients or customers. The aim of writing a quotation is to inform prospective customers regarding the price offerings of a company for specific goods and services they are offering.
The following are the basic elements of a quotation:
- The label of the document at the topmost center (“Quotation”)
- The company letterhead
- The date when the quotation is being prepared
- The name of the person preparing the quotation
- The position title of the person making the quotation
- The name of the recipient
- The specific project to which the quotation is being prepared for
- The enumeration of items of goods or services being offered
- The prices of each all these items
- The additional fees such as the taxable items, the delivery charge, and service charge.
- The payment terms
- The date when such quotation would cease to be valid
- The signature of the person preparing the quotation
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Quotation for Building
Team Building Hire Quotation
Quotation Budget in PDF
Budget Estimate Quotation
Budget Cost Quotation
Construction Quotation Format
Quotation for Construction Company
Construction Invitation Quotation
Advantages of a Quotation
Surely, the advantages of sending quotations to one’s potential customers are astoundingly well-known. Here are some of the most notable advantages of sending quotations:
- It enlightens your potential customers regarding the prices of the items they want to avail. Hence, it makes it easier for them to adjust their budget accordingly.
- It allows customers the chance to check which brands the business is offering, and if they want a specific brand, they may be able to have it ordered as compared to when they make a purchase right away without analyzing the contents of quotation.
- It allows customers the chance to negotiate certain terms of the quotation such as the price, the terms of payment, the delivery method, etc.
- When customers are given the chance to negotiate the terms of a quotation, they are more likely to make a transaction with a business than when they don’t have the liberty to do so. In a way, the business is also greatly benefited by a quotation.
- When customers approve of the prices stated in a quotation, the quotation would then serve as a basis for the writing of an invoice as well as a receipt.
- A quotation is a reliable source of information for business analysis. It can provide information regarding the rise and fall for prices of specific items. It also manifests the level of demand for each specific item of goods or service at a particular time of the year.
Disadvantages of a Quotation
The disadvantages of using quotations are sparingly few. Here are some of those:
- It is an impersonal way of doing business with one’s clients. As compared to the actual physical interaction with a prospective customer, a quotation does not allow sales talk. There are times when customers would be moved to purchase a good or avail a service because of the persuasive abilities of a sales person.
- A quotation is a mere document. Thus it doesn’t prompt prospective customers to respond to it right away.
Web Design Quotation
Interior Design Quotation
Formal Request for Quotation
Formal Service Provider Quotation
Firm Financial Quotation
Simple Financial Quotation
Labour Job Quotation
Sample Quotation for Job
Job Order Quotation
What Is a Request for Quotation?
A request for quotation is a formal request sent by a prospective client or customer to multiple businesses. As the name suggests, it is sent with the aim of asking different businesses to prepare a quotation for them.
A request for quotation is in letter form. The following are its parts:
- The name, address, and other pertinent information of the sender
- The name, position title, and the name of the company asked to make a quotation
- The formal greeting
- In the body of the letter, the following are its contents:
- The introduction line that briefly states the request for a quotation.
- The explanation line that describes the particular project that needs a quotation.
- The enumeration of the specific items needed to be priced.
- The closing remarks.
To know more about how to request for a purchase quotation, refer to our sample quotations on site.
Quotation for Event Photography
Request Quote for Product Development
Quotation for Product Price
Sales Order Quotation
Company Website Quotation
How to Make a Quotation
- Before you can make a quotation, you must be able to answer the following questions first:
- How did you learn of the need to make a quotation? Was your company formally requested to enter a bid?
- What are the items you need to include in your quotation?
- Do you have to assess the project in order to have a list of items that need pricing?
- After you have answered those questions, you may proceed writing your quotation. Start by labeling your quotation.
- Then you may include the letterhead of your company, which must contain the proper name of your company, its address, and contact information.
- Then address your recipient personally. It is best to send your quotation directly to the person overseeing the entire project.
- Then briefly state in what manner you have learned of the need for such quotation.
- Make an itemized list of items of goods and services together with its corresponding prices.
- Write the method of payment
- Specify the date when the quotation may still be valid.
For more references, browse our website for quotation templates. We also have more specific kinds of quotations such as consultant quotations, website quotations, and many more.
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