The Secrets Of Pricing, Making It Your Advantage
An often-neglected part of home business is the pricing of your services. You know what you can do, you know there's a market for it, but do you know how much you can get away with charging, without putting the customers off? Here are a few tips to maximise your profit margin.
Find Out What Your Competitors Charge.
Ring round some of your competitors (you might want to use a fake name), and find out what they're charging for the services you offer. You can then make a p...
An often-neglected part of home business is the pricing of your services. You know what you can do, you know there's a market for it, but do you know how much you can get away with charging, without putting the customers off? Here are a few tips to maximise your profit margin.
Find Out What Your Competitors Charge.
Ring round some of your competitors (you might want to use a fake name), and find out what they're charging for the services you offer. You can then make a price comparison table. If you're working in an industry where price isn't a big thing customers look at, you might charge around the average of your competitors' prices. If price is a big factor in your industry, play aggressively -- put your table in your advertising materials, and price yourself so you beat everyone on the list (you might not be able to do this in some industries, however).
Be aware, though, that you might not always want to be the cheapest out there.
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