Did you know?
Most entrepreneurs over look all of the costs of goods and will therefore under price their products and or services. This as a result will keep the entrepreneur from making a profit.
So how do we make a profit and price are goods/ services in an economy thats down?
Simple…
I have an example of what many vendors out of the LA market center did when gas was at it’s highest and it came to not loosing money on shipping.
“A surcharge of 6% will be added to your bill for fuel costs and will be removed when the fuel prices return to normal.”
Not saying to markup your prices due to fuel, but everyone likes to pay for what they get so don’t under estimate yourself, product and or designs.
Make sure you do your research on competition and know what the “average” pricing is in your feild or in simular product. Remember to add the value to it based on what your added factors are- packaging, service, etc.
want help with pricing strategies?
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