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Costing & Pricing your Product or Service

Venue:
Online via Zoom
 
Date:
29/04/2025
 
Note:
(a) Course Dates: Part 1–29/04/25 Part 2–30/04/25 (b) By booking this event you agree to share your contact details with the trainer for the purposes of the course.
 
Time:
09:30-12:30
 
Category:
Management Development
 

Over this two-part course, participants will learn how to calculate gross and net profits for their business - both for individual products / services and for the overall business. Participants will also be introduced to pricing strategies, factors to consider when setting prices as well as getting an understanding of how to improve profitability. Part 1 focuses on how to prepare the various calculations - it is difficult to implement a successful pricing policy without understanding the margin calculation. Part 2 focuses on the pricing strategies and factors to consider when setting prices.

This event is no longer available
 

Costing and Pricing your Product or Service

 

Pricing for Profit

  • Part 1 of 2 – Tuesday 29th April 2025 from 09:30 – 12:30
  • Part 2 of 2 – Wednesday 30th April 2025 from 09:30 – 12:30

Course Outline

  • What ‘overheads’ are, why they are important and how to factor them into your product or service costs.
  • How to calculate your profit margins by product / service and for the entire business.
  • How to calculate your breakeven position and translate this into the number of units you need to sell to achieve it.
  • Taxes and how these impact profitability  - VAT, Corporation tax and Income tax
  • Profitability versus cashflow - the difference and why each is important
  • The basics of a budget process - and how this relates to pricing and profitability
  • What factors to consider when setting prices.
  • How to calculate prices for new products or services you want to introduce.
  • How to improve margins.
  • The importance of reviewing prices regularly and how to do this.
  • How to test the market price level.
 

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