Price Quote Template
Many industries use price or sales quotes to establish the parameters of a new job and determine how much the customer will need to pay to have the work done. Companies who provide construction, maintenance, insurance, and many other services use quotes to inform potential customers of their prices.
The quote is the final, exact price the customer will need to pay for the work. Quotes are typically considered legally binding. Therefore, it is essential that you understand all of important details of the project before developing the quote.
HubSpot Tip: Though they are often confused, a quote is not the same thing as an estimate. An estimate is only a rough, educated guess of what a job will cost. It does not contain the level of detail that is required for a quote.
Company Information
This section provides basic information on your firm and gives the customer contact information in case of questions. Include the following basic data:
Company Name: Insert your company’s full name.
Street Address: Include the company’s mailing address, including the zip code.
Quote Prepared By: Enter the name of the person who the customer should contact with questions about the quote.
Phone Number: Choose a number that can quickly connect the customer to someone who can answer any questions they might have about the quote.
Fax Number: Though fax machines are being used less and less, this template requires a signature, and your customer may prefer to return the signed copy by fax.
Email Address: Include the email address of the person the customer should contact with questions.
HubSpot Tip: This is just a list of the basic information that you need to include. Feel free to add additional details that are useful in your specific industry.
Quote Identification
Here, you should provide details on the specific quote:
Quote Number: Some companies keep track of all of their quotes with a numbering system. If your organization does this, enter the number here.
Date: Include the date you are sending the quote to the customer, including the day, month, and year.
Customer Account Number: Some companies assign customer account numbers for tracking purposes. If your firm does this, include the account number.
Valid Until: Note how long the quote will be valid before you would need to reissue it.
HubSpot Tip: Not sure for how long to make your quote valid? This varies by industry, but quotes are typically valid for between 30 and 90 days.
Customer Information
Add the contact information of your customer in this section.
Contact Name: Insert the name of the person to whom you are sending the quote.
Company Name: Enter the name of the customer company.
Street Address: Enter their street address, including the zip code.
HubSpot Tip: If your firm would find it useful, you can also include the phone number and email address of your customer in this section. However, this is not necessary information for the quote.
Description of Work
You should only issue a quote after you are sure of that is needed for the job. You should conduct background research using whichever method is appropriate for your industry. This might mean asking the client a series of questions to better understand their needs or performing a site visit. In this section, provide a description of the work to be done, including any details that are relevant to the final price.
HubSpot Tip: You have described what work is included in the job, but you might also consider listing any associated work that is not included. If the additional work is something that your company also does, indicate that it is possible for the customer to engage you under another quote to perform this work at a later date.
Itemized Costs
Include as much detail as possible on the job in your itemized costs. Providing this level of specificity serves two purposes: it makes it easier for your customer to understand how you developed the quote, and prevents future confusion or disagreements about what the job entails.
As shown in the example below, both products and services should be incorporated into your itemized costs.
Product or Service
Quantity
Unit Price
Amount
Service Fee
1
$200.00
$200.00
Drywall Labor (1,000 sq. ft. room) by hour
20
$75.00
$1,500.00
Paint Labor (1,000 sq. ft. room) by hour
10
$60.00
$600.00
Paint (1,000 sq. ft. room) in gallons
3
$50.00
$150.00
Subtotal
$2,450.00
Tax
N/A
Total Quote
$2,450.00
HubSpot Tip: If you are required to charge value-added tax (VAT), be sure to include it in your quote.
Customer Signature
Explain the next steps required to approve the quote. Typically, the customer needs to return a signed copy of the quote indicating that they agree with the description of the work and the quoted price.
Indicate where and how (usually by email or fax) the customer should send the signed quote. Then, include customized signature lines for everyone who needs to sign, like shown below.
________________________ ________________________ ________________________
[Name], [Role] [Name], [Role] [Name], [Role]
HubSpot Tip: You could include a line here indicating who to contact with questions about the quote with an email address and phone number for that person. It is always best to make it easy for the customer to ask questions.
Terms and Conditions
You might want to attach your company’s terms and conditions, as the quote will be binding upon the customer’s signature. The terms and conditions indicate the provisions, requirements, rules, specifications, and standards on which the contract will be based.
HubSpot Tip: Be sure to make any adaptations that are necessary for this specific quote.