FOCUS ON CRAFT & CREATIVE - Cost-Based Pricing

Cost based pricing is a pricing strategy which many creative product-based brands deploy. It considers overhead costs, design, manufacture and other associated production costs per unit.

This approach often involves adding a fixed percentage on top of production costs per unit.

The key topics we will discuss include:

• Knowing what overheads are, and how to factor them into your product costings
• Basic costing formula
• How to calculate the profit margins delivered by your overall business or individual products
• Know how to calculate their break even position

We recognise that our creative cluster are always innovating and creating new products, yet it can be a challenge to know that you have priced them optimally.

Our goal through this workshop is to support our cluster members to know their margins so that you can strive to improve them. And to emphasise that regular price/cost reviews are essential.

Coffee and networking from 2pm in MERITS.

GDPR NOTICE: Photo and video content will be taken at this event for social media, reporting and promotion of future events. Please advise a member of the LEO team prior to the event, if you wish to be not recognisable in that content.