Interesting Math for Determining Pricing Increases
Do you fear the consequences of raising prices? Will lowering prices attract customers? Let’s take a look at the math to see how increasing or decreasing prices affect profits.
Budgeting for 2016 Begins NOW!
Even though there’s a few months left of 2015, changes in your budget need to be created in advance of actual results to maximize income and control expenses. Use Ken’s free spreadsheet to prepare for next year.
How Framers Really Price Materials
Markup is the second-most important factor in making money in custom framing—next to margin. It doesn’t matter where you start your pricing; what matters most is what you sell it for.
How Framers Mark Up Materials
If you don’t mark up your materials enough, you won’t stay in business. Markup is the second-most important factor in making money. Here’s a good way to analyze markup when pricing moulding, matboard and glazing.
Ten Keys to Building Profit
Creating profit in a small business is more difficult than ever. From correct pricing to growing average ticket to monitoring marketing and sales, these ten key steps can improve your bottom line even in challenging time.
Keeping Score
If you want to understand how your business is really doing, you need to keep track of the details. Keeping score allows you to track your company’s sales performance, gives instant feedback on team performance, provides accountability, and gives concrete details in sales, marketing and production.