Interactive worksheet
A count and total of your stale open quotes, a one-time figure at a rate you chose, and a printed call sheet to fill in, highest value first.
Open the worksheetWhy open quotes stay out
sold quotes ÷ (sold quotes + lost quotes)Count both from your estimates export, by status, over the same period.
A quote nobody has answered has not been lost. Count it as a loss and it sits in the bottom of the fraction with nothing in the top, so the rate drops every time customers take a while to decide. A slow pipeline then looks like a selling problem. That is why Revvy works out close rate from sold and lost quotes only.
The open quotes still matter. They are a different job, a list to work through and price once, and they have their own post: Unsold estimates: count them before you chase them.
Expired quotes
Expired quotes are left out too. An expired quote ran out of time without an answer, and like an open one, it is not a no.
That has a side effect worth checking in your own system. If your software marks quotes expired after a set number of days, they drop out of your close rate, and because they are no longer open they are on nobody's call list either. Revvy counts them in neither place: an expired quote is outside the close rate and outside the open-quote figure, which reads only quotes still marked open.
So keep a third number beside the rate: how many quotes expired in the period, and what they were worth. It will not change your close rate, and it should not, but it stops work that nobody won from vanishing between two reports.
How many decided quotes you need
Revvy states a close rate only once it has at least 15 decided quotes. Quotes are fewer and larger than leads, so the bar is lower than for a booking rate, but a close rate from eight quotes is noise.
Fifteen is the floor. Revvy calls its confidence in a close-rate figure high from 60 decided quotes, four times the minimum, and medium from 30. Below that, the range it puts around the figure is wider.
If a quarter does not give you 15 decided quotes, use a longer period. If one location does not, look at the business as a whole until it does.
What a "good" close rate is
We do not offer a figure. The figures quoted on ranking pages disagree with each other, and we did not check any of them against a source, so none is repeated here.
Revvy's default target is 45%, a judgement and not an industry figure: a close rate a business presenting options can reach, set below best-in-class on purpose. You can change it, and Revvy's own notes call it the assumption most worth tuning to a business's own records.
The comparison that tells you something is with yourself. Work out this quarter's rate and last quarter's the same way, for each location, and then look at what changed in between: who presented, what was quoted, how quickly the quotes went out.
Close rate, booking rate and ticket act on the same jobs
Booking more leads produces more quotes, closing more of those quotes produces more jobs, and raising the average ticket raises the value of those same jobs.
Why their gains are not added together
Price each improvement on its own and add them up, and one job gets counted up to three times: as a booking, again as a sale and again as a bigger ticket. The sum is large because it double-counts.
Revvy reconciles them instead. One counts in full and the other counts at a share, 40% by default, which is a judgement you can change. The average-ticket what-if is shown beside the total and never added to it. Every line of the working is on screen, so the total can be rebuilt by hand.
The Opportunity Score calculator keeps to one lever, the booking rate, and says so: no other growth lever is added. To measure that side fairly, see Measure your booking rate without the 14-day trap.
In the demo
DemoContoso Plumbing & Drain
In Revvy's demo data, quotes presented but not sold add $44K–$66K a year to Contoso Plumbing & Drain's total. That is what the close-rate line adds after the total has allowed for the jobs it shares with booking and for the open slots on the schedule. Revvy shows the line's own range as well, with the formula behind it.
Revvy's dashboard also compares close rate across a business's locations, and shows a rate only where a location has at least 15 decided quotes.
Close rate leaves out the open quotes still waiting for an answer. The Open-Quote Call List helps you count those, put a one-time figure on them at a rate you choose, and print a call sheet to work from.
Questions people ask
What is a good HVAC close rate?
We do not give one. The figures quoted on ranking pages disagree with each other, and we did not check any of them against a source. Revvy's default target is 45%, a judgement and not an industry figure, and the better comparison is your own rate last quarter, worked out the same way.
Should I count quotes that expired?
No. Close rate counts sold and lost quotes only. An expired quote ran out of time without an answer, so it is not a loss, and Revvy leaves it out of both sides of the fraction. Keep a separate count of expired quotes so they do not drop out of sight.
Does close rate depend on the kind of work?
It can. Revvy does not split quotes by the kind of work: it works out one close rate from every decided quote. Its notes on the 45% default say a business whose quotes are mostly replacements, or mostly service calls, may sit well away from it, which is why the target is editable.
If your estimates export carries the type of work on each quote, you can work out a rate for each type yourself with the same formula.
Can I add a better close rate to a better booking rate?
Not by adding the two figures. Both act on the same jobs, so the sum counts some jobs twice. Revvy counts one in full and the other at a share, 40% by default, and shows the working line by line.