One of the biggest challenges facing custom frame shop owners is determining their pricing strategy. You want to strike the right balance with pricing so that you don’t discourage customers, but are also able to cover your operational expenses, material costs, and allow for remaining profit. Read this article to learn how to take your pricing to the next level.
A little tweak to pricing can make a substantial difference. In this video from Tru Vue®, Ken Baur talks with Retail Boot Camp winners Larry and Rene Bauer of Karon’s Frame Center about taking their pricing strategy to the next level.
Create consistency for great designs by building a design philosophy which can be shared and taught to others in your company. By outlining and teaching a process, you can offer consistent talent regardless of who the designer is.
VIDEO: In this pricing & profitability video series, framing industry expert Ken Baur discusses discounting dilemmas with Imagine It Framed owners, Rene' & Larry Bauer, for the 2016 Tru Vue Retail Bootcamp.
During his operational and financial consultation with Tru Vue® Retail Boot Camp winners' Rene and Larry Bauer, Ken talked with them about a major factor in success for small businesses — controlling discounting. Maintain profitability of custom designs by limiting discounting and having confidence in your pricing.
VIDEO: In this pricing & profitability video series, framing industry expert Ken Baur discusses pricing strategies with Imagine It Framed owners, Rene' & Larry Bauer, for the 2016 Tru Vue Retail Bootcamp.
What is one of the best ways to grow profit? Raising prices has a better effect on your ability to pay expenses than finding cheaper materials. Stop spending your time searching for the best price on foamcore and start charging the prices necessary to improve your profits.
Opportunities for increasing profitability begin with small changes. Huge increases to pricing or major efforts to draw more customers often are unnecessary. Learn how to use the correct design-driven pricing to create big results.
The fastest way to a more profitable custom framing business is by increasing the average price of the projects being sold. The only way for you to reach a goal is to track and score what you are doing now.
Do you recognize yourself in our three shop examples? If you know your pricing is where it should be, you will be less prone to making changes during the sales process that negatively impact your profit margins.