I have a possible wedding cake booking for August 2014, for which I accidentally quoted a 2013 price, and I'm now thinking that ingredient prices may be quite a bit higher by then. How far in advance are others prepared to quote a firm price? Do people ever give a quote with a proviso that the price may rise a bit if ingredients prices have risen significantly? I'd be really interested to know what others do.
I quote prices according to my current pricing. However, on my written quotes, I state that the quote is good for 30 days. Once someone has signed the contract and paid a deposit, they are locked in. If they do not pay a deposit by that time, the quote may be different based on any increases in cost for supplies. I also state on my contract/invoices that any significant/major changes made after booking will reflect pricing at the time of the change.
That being said, I look at my pricing once or twice a year to make sure I am still on point. After 2 years, I have not had to change my prices because I have enough wiggle room to account for any fluctuations in the market, up and down. However, this is easier for me since I am online only, no storefront, inventory, or employees to worry about.
If your customer has not signed a contract or paid a deposit, I would just email and let them know you can honor the quote up to a certain date. If they do not book by that time, adjust the quote to what you want to charge them.
Thanks for your input, Brenda!