Create a Template from an Existing SharePoint 2010 Team Site

In order to create a site template from an existing SharePoint 2010 Team site, first of all, you need to deactivate "SharePoint Server Publishing" features under Manage site features. Without deactivation of this feature, you could not see "Save site as template"  link.

When you clicking on Save site as template, you will see the following screen.

If you use this site template in different portal, add this site template under Look and Feel > Page layouts and site templates.