Price the Job Right Every Time With The Pricing Formula

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Pricing the Job too low according to MSU extension service for sewing professionals and home-based sewing businesses are, fear and underestimate of time.

"1. They find it hard to believe that people will actually pay the price they really need to charge to make a profit.

Sometimes this is true, but most of the time this statement is based on belief, not fact. Don’t fall into this trap. Don’t be the fearful business person who sits back and worries that no one will pay more. Smart entrepreneurs are offering the same product or service at two or three times your asking price—and they are getting it.

2. They tend to underestimate the value of their time and expertise (especially women who have stayed at home with little or no salaried job experience).

If this happens to describe you, don’t sell yourself short. It is not job experience that determines the worth of your time in a home-based business.

It is "what you know and what you do with the time" that counts. In truth, the major products a home-based sewing business has to sell are time and expertise, and they must be valued accordingly.

You must price the job high enough to cover your costs and earn yourself a reasonable return, yet low enough so customers will buy your product or use your services.

Realistic prices attract customers and build sales volume. Whether you are high-priced and only a select few can afford your product or service, or lower priced for greater appeal, you must be sure the return is enough to be profitable.

You won’t last long if too few come to your door or if your prices are so low you do not make a profit."

You can click here to book a complementary pricing strategy session. Find out if you are charging enough.

When I started my prices were so low had I continued with my pricing strategy I would have starved. Read my story, see if it resonates with you.

Click Here to see how I nearly priced my self out of Business.

Remove Stumbling Blocks Learn The Pricing Formula

Following is a Price Formula to help you get over your fear of pricing that will work whether you are making clothing orwindow treatments.

Price The Job in order to help you achieve and maintain success of your sewing business.

Three Pricing Methods:

1. Flat Fee-standardized, no variations in product offerings

2. By the hour-when you are recognized by your value, customers do not mind paying an hourly rate because you produce exquisite work, you produce specialized one of a kind business

3. Integrated pricing method-most popular method, this can be used with any type of sewing business from custom tailoring to window treatments. When utilizing this effectively the integrated pricing method will keep you from undercharging for your services.

Below is a brief description of the integrated pricing method, for complete step by step guide check Pricing Without Fear and download the guide pdf.

Formula: (1) Overhead expenses + desired salary divided by hours committed = base hourly rate

Let's break it down further. Let's say your overhead is $650 a month and you have determined you want to make 3000 a month,you are going to work a 30 hour week. With that in mind we will determine your hourly rate.

$650 + $3000= $3650 divided by 120 hrs in month = $30.41 rounded to $31.00 per hour.

Download this PDF Document now and follow the simple instructions to price the job that may come into your sewing business.