Restrict sub-folders quota using File Server Resource Manager

I was recently asked a question on how to restrict the quota limit on sub-folders to 10MB using File Server Resource Manager (FSRM) which manages quota limits to folders using templates. The issue was: (1) there is no 10MB template (2) when the template is applied, it only restricts the entire folder meaning all sub-folders would have to share that quota limit applied rather than individual sub-folders. To work around this while using the File Server Resource Manager, you need to apply¬†Auto apply template and create quotas on existing and new sub-folders¬†option but the only limitation to this is that you don’t have the 10MB limit option.