How Do You Write a Business Quotation?


Quick Answer

A good business quotation contains service description, material cost, hourly wage and a proper format. It should be clear, accurate and relevant to the client.

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Full Answer

A business quotation is an estimate of the amount the bidder intends to charge a client for a service. To ensure an accurate estimate, understand the task that the client wants first, asking him questions as needed. Then, estimate the cost of the material needed to complete the project, including the material transport and the storage costs. If you intend to use your own money to buy the material, include the opportunity cost, because the money you use for the material could otherwise be invested in something else. Estimate the amount of hours you intend to complete the project and decide on your hourly pay.

Once you have all the relevant information, start the quotation with a letterhead, and then write the word "Quote." Provide the estimate number and write the terms of payment. Be sure to indicate the deposit as needed and the date for payment completion. In the main part of the quotation, include the material details, service description, hours of work, and describe how the final product you intend to deliver looks like. Finally, note for how long you can honor the quote.

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