The Ultimate Guide to Creating a Price Quote That Wins Jobs

What is a Price Quote?

A price quote is a formal document that a seller provides to a buyer, outlining a fixed price for a specific set of goods or services. Once the client accepts the quote, the price is binding.

Quote vs. Estimate: What's the Difference?

It’s important to understand the difference between a quote and an estimate. An estimate is a rough approximation of what a job might cost. It’s not legally binding and is subject to change. A quote, on the other hand, is a fixed price offer. Once a client accepts a quote, the price is set in stone.

Learn more about the difference between quotes and estimates in our detailed guide.

What to Include in a Price Quote: A Comprehensive Checklist

A professional price quote should be clear, concise, and contain all the information the client needs to make an informed decision. For a comprehensive breakdown of what to include in your quotes, we have a detailed checklist. Here are the essential components to include:

• Your Business Information: Your company’s name, address, phone number, email address, and logo.
• Client’s Information: The client’s name, address, and contact details.
• Quote Number: A unique identification number for easy tracking.
• Date of Issue: The date the quote is sent.
• Expiration Date: The date the quote expires (e.g., “Valid for 30 days”). This is important because the cost of materials and labor can change over time.
• Itemized List of Goods or Services: A detailed breakdown of everything you will provide. For each item, include:
  • A clear description
  • Quantity
  • Unit price
  • Total price per item
• Total Cost: The final price, including a breakdown of taxes, labor, materials, and any discounts.
• Terms and Conditions: This section should outline your payment terms, project timeline, and any other important conditions.
• Signature Line: A space for the client to sign and date the quote, indicating their acceptance.

How to Create a Price Quote: A Step-by-Step Guide

Now that you know what to include in a price quote, here's a step-by-step guide to creating one. If you need step-by-step guidance on how to write professional quotes, we have a detailed tutorial as well:

1. Choose a Professional Template: Start with a clean, well-structured template. This will ensure that your quote looks professional and is easy to read. You can create your own template, use a pre-built template from a program like Microsoft Word or Google Docs, or use a specialized quoting software like QuoteTier.
2. Fill in the Details: Fill in all the essential information, including your business details, the client’s details, the quote number, and the date of issue.
3. Provide a Detailed Breakdown of Costs: This is the most important part of the quote. Be as detailed as possible, and break down the costs into individual line items. The foundation of any winning quote is pricing your services effectively. This will help the client to understand exactly what they are paying for.
4. Calculate the Total Cost: Sum up all the costs for the line items, and then add any applicable taxes or discounts. Make sure the final price is clearly displayed.
5. Specify Your Terms and Conditions: Clearly state your payment terms, project timeline, and any other important conditions. This will help to prevent any misunderstandings down the road.
6. Add a Personal Note: Consider adding a brief thank you note or a personal message to the client. This can help to build rapport and make your quote stand out.
7. Review and Send: Before you send the quote, double-check all the information for accuracy. A professional, error-free quote reflects the quality of your work. It’s a good practice to send the quote as a PDF to ensure that the formatting remains unchanged.
8. Follow Up: After you’ve sent the quote, it’s a good idea to follow up with the client a few days later. This will show that you are proactive and interested in their business.