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Quote or quotation is different in the business world. And for those of you who know what it is, you also know how tough it is to create one from the beginning. So here we offer you a free quote template (that you can access through Microsoft excel) that has everything you would need in a quote template.
Okay so here is the deal, before I explain the features of this quote template to you, I’m going to give you some information about quotations and quotes in the business. In addition to that, I will also tell you why it is so important.
Let us suppose you are a small business owner, and you have to order a set of supplies, or raw materials, for your new product or project. You choose a potential seller or supplier and you order your supplies. Pretty simple right? Well yes and no, these things are not safe to be done verbally, there has to be a written proof or record. And quoting is one of the many types of written proofs you can have. So what is it exactly? What is it used for? Is it really that important?
What Is a Quote in Business?
A quote, a sales quote, or a price quote, according to Wikipedia is:
“A sales quote allows a prospective buyer to see the costs that will be involved for desired work.”
A pretty self-explanatory definition if you ask me. But if put in simpler words and explained a bit more, a sales quote is basically a statement that a seller submits to a buyer, the document that is submitted holds all of the prices the supplier is going to charge the buyer for the services given to them. In case you are misunderstanding. A sales quote is not a one-sided statement. It involves both the parties: the buyer, and the seller. The seller formulates the quote with respect to conditions laid down by the buyer, the client.
So why is it important? Does it even have any significance? It very much does.
Why sales are quotes important?
The minute a client asks you for your sales quote, one thing is for sure, you as the seller have secured a customer. Them asking for a sales quote shows that they are really considering you as their supplier.
The following reasons may tell you why it is so important:
- It will allow a better understanding between the supplier and the customer.
- It will have a legal binding to it. And can potentially be used a proof is inconsistencies occur in the future.
- Provides transparency between the buyer and the seller, and their business plan.
- Will allow the seller to make a properly structured pricing system.
Now that we know what a sales quote, we will now go to its making. Frankly, it sounds like a lot of work. It requires so many little details that make it tough to create from scratch. This is exactly why we are offering you this quote template [Excel+Word]. It has enough space and also includes all required field headings. So get it now, and save yourself from going through the trouble of creating one.