One of the first things you must do when starting a new business is determine how much to charge for your products and services. A price list is a list of all the products and services your business offers and the prices that will be charged for them. Much contemplation and research should go into your pricing, as it can dictate the type of business you will be, the type of client you have and how many customers call.
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Make a list of all of your products and services. Write them down on a piece of paper. Include every possible product you sell and every service you offer.
Organise your list of products and services. Group all your like products or services in one group and other like products or services in another group. Continue this until all your products or services belong to a group. This helps you organise your thoughts when you are making a price list for a new business.
Find out what your competitors are charging. Visit the stores or websites of the companies that will be your main competitors. Study what they are charging for products and services that are similar to yours. It's important that you offer competitive prices that are fair for the quality of product or service you sell, as customers notice this.
Determine how much you must charge for each product or service on your list individually in order for you to pay all your expenses and still earn a profit. Be sure not to short-change yourself. One mistake many new business owners make is charging too little for a product or service and not earning enough money in profit. Another mistake many new business owners make is overcharging for the product or service; if you do this, you are less likely to make a sale. When you are starting out with a new business, you likely need all the customers you can get; so be sure to price your products and services fairly for both you and your customers.
Write, type or print out your price list for your new business based on the products and services you offer and the prices you determined to be fair for both you and your customers. Some businesses choose to publish this price list on a website or post it in a store; other business owners choose to keep their price list private until a customer asks for a quote. Business owners who keep their price list private typically do so due to the changing costs of doing business by their suppliers and service providers.
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