Hi there, my name is Daniel, the CEO of IRONLAND, IRONLAND is a tool bag manufacturer and a solutions provider for the tool bag business. Over the years, we have got in touch with many tool bag B2B clients and provided quotations to them. We believe that the approval of the quotation by the buyer and the seller is the key to starting the cooperation. We have noticed that some clients do not understand well the quotation because they may be new to the tool bag industry or know less about international trade. So I wrote this article to help readers who need it to understand the tool bag quotation and share some tips to lower the unit price.
The tool bag quotation and unit price mentioned in this article are applicable to tool bags business, tool bags international trade, tool bags B2B, wholesale tool bags, procurement tool bags and customize tool bags.
What Is Tool Bag Quotation？
Quotation is the price list provided by the seller to the buyer to confirm product specifications, unit prices and other information. The seller match the product specification and unit price, so that the buyer know the unit price of the product of a certain specification that they want to purchase. In the field of tool bag B2B business, we called tool bag quotation.
What Is Included In The Tool Bag Quotation?
Such as buyer and seller company information, quotation date and reference number, etc.
Such as product name, product image, model code, product description or specifications, packaging and labeling, gross / net weight, etc.
The order quantity required by the buyer or the MOQ provided by the seller (please check ‘The MOQ Of Tool Bag Bulk Sourcing‘ for more information about MOQ), usually the quantity of the product is up to the buyer. For example, if buyer wants to purchase 3,000 pcs of Z-type tool bags, it requires the seller to provide quotation based on 3,000 pcs Z-type tool bags. Or, if buyer wants to purchase a small qty of Z-type tool bags, it requires the seller to provide the quotation of Z-type tool bag based on MOQ.
Refers to the unit price of a product based on product quantity, product specification and incoterms. In international trade, whichever product quantity, product specification or incoterms affect product price.
- Quantity. Generally speaking, the more the product quantity is, the lower the unit cost of the product, the lower the unit price.
- Product Specification. The price of different products is different, it’s easy to understand!
- Incoterms. It stipulates the responsibilities and obligations of buyers and sellers. There are many processes in international transportation, mainly are: the goods are transported from the factory to the port of loading—-export procedures—-transported from the port of loading to the port of destination—-import procedures—–transported to the buyer’s warehouse. The incoterms are to stipulate that the seller’s quotation includes all the costs (usually freight) and responsibilities of the goods being transported to a certain place. For example, FOB NINGBO USD3.5/Pc means that the unit price usd3.5 includes all charges and responsibilities for the goods being transported to the container ship. Commonly used incoterms are: EXW, FOB, CIF or CFR, please check this post for more related knowledge: Guide For Transporting and Importing of Tool Bag Cargo.
Such as quotation validity period, sample policy and other necessary terms.
Several Kinds Of Tool Bags Quotation
In the early stage of purchasing, buyers usually ask sellers to provide quotations based on basic product specifications and MOQ to evaluate whether the products meet their needs and whether the quotation is reasonable, and based on this, consider whether to proceed the project with the seller. We name this kind of quotation basic quotation.
Quotation Based On Buyer’s Requirements
As the name implies, this kind of quotation is provided by the seller according to the buyer’s requirements (such as the specification, design, packaging and quantity of customized products, etc.). In the tool bag B2B business, buyers usually prefer customized tool bags (such as Logo, color, structure, packaging, etc.), and the seller provides corresponding solutions according to the buyer’s requirements, after the final solution is approved by the buyer, the seller can make quotation accordingly. I detailed customize tool bag guides in another article: How To Customize Tool Bags?
In this kind of quotation, all the details of the price are listed, and you can clearly see the list of materials that make up the product and very detailed information such as the amount and unit price of these materials. Some well-known large companies require their purchasing managers to request this kind of quotation from their suppliers to gain a deep understanding of the product and analyze whether the product price is reasonable. Only the professional tool bag manufacturer is capable of making such kind of quotation. The following is part of the quotation we once provided to a Fortune Global 500 company for their tool bag project. At the time of writing this article, we have been working with this company for three years. I show it to you in the form of a list. In order to fulfill the responsibility of protecting trade secrets, I can’t show full information, but you know, we can provide with exclusive super quotation for you.
|ITEM NAME||USAGE||UNIT||PRICE/UNIT||COST PER ITEM|
|1000D Polyester With Pvc Coating||0.45||M||/||/|
|EVA Bonded Oxford Fabric||0.2||M||/||/|
|ITEM NAME||USAGE||UNIT||PRICE/UNIT||COST PER ITEM|
How To Lower The Price Of Tool Bags?
Choose Tool Bag Manufacturer As Your Supplier
I have covered several kinds of sellers/suppliers in my article ‘How To Find Tool Bag Supplier Or Manufacturer?’. It is well known that manufacturers usually offer the lowest prices, then why spend more to give profit for traders if you can purchase tool bags from the manufacturer at much lower price? Choose IRONLAND Tool Bag Manufacturer as your supplier from now on! This will create more profit for you.
Remove Useless Product Structures
Some products have certain structure or design that is useless to your market and customers, you know no one wants to pay for something useless. For example, the products you are interested in are equipped with hammer holder, but you know that most of your customers do not use hammer, in this case you can remove the hammer holder from the products and it will save you a lot.
Long-term Cooperation & Large Orders
You know, sellers always offer better prices for their regular clients or large orders. From 2003 to now, We got many regular clients, many of them grow their tool bag business from small to large with our help. In the beginning, they may only purchase hundreds of tool bags each batch, however they continuously record the feedback from end users during their sales and organize these feedback to send to us. We provide corresponding solutions based on these feedback from the end market, and then implement solution in the next order, and thus continuously optimize the product to improve the market competitiveness of products. While the retail sales are getting better and better, our clients’ orders are getting larger and larger, and we can also offer lower prices for larger orders, you know, this is a virtuous circle and also win-win!
How To Get Tool Bag Price And Quotation?
Find a professional tool bag manufacturer such as IRONLAND, tell us your idea and requirements, we will get in touch with you within 24 hours and try to discuss details and provide solutions with you, then you just wait for our quotation. What are you waiting for? Just do it! Get your tool bag quotation now!