Everyone knows the word ‘estimate’ is somewhat similar to an approximate measure or understanding of something. But what is an estimate from a business perspective? An ‘estimate’ in business parlance usually refers to a cost estimate that might have to be incurred by a person or a business in return for the product or service asked by him. So usually before an invoice is generated by a business, a price estimate is sent to the customer so as to give him an idea of what are the costs that he might incur.
Post issuing such an estimate, the customer is free to get back to us on whether he likes the price or he is looking at negotiating for a lower price. So an estimate plays an important role in determining the success of any business. Getting the estimate format and price right is very important for success.
If you are a new business owner and have no idea as to how to generate the best estimate to convert a potential lead into a customer, take a look at some of our estimate templates that are ready to use and of course customizable to meet your needs. Choose one today and bag that much needed customer deal!