The price a business charges for their product or service is one of the most important business decisions to be made. Setting a price too high or too low may limit business growth.  This is a practical programme on how to correctly cost and price a job.  The course demonstrates how to stay competitive in the marketplace yet ensure an adequate return for the owners and business in general.

You will come away with a clear understanding of the techniques and methods for creating a clear price policy, with an awareness of the numerous factors that can positively/negatively impact your profitability through careful price creation.

Workshop Content 

• Cost management
• Different types of costs, (direct, indirect, fixed, variable)
• Calculation of annual overheads
• Cutting costs and dealing with your accountant Updated
• Absorb overheads to individual jobs/products
• Calculating your product/service cost
• Estimating breakeven & assessing viability
• Estimate your breakeven in sales for one year/one month/one week
• Time management and costs
• Costing procedures – cost cards and time cards provided
• Costing techniques – batch, process, contract, job, service
• Cost plus pricing - calculating the job/product price
• Mark – up versus Margin – exercises updated
• Pricing for profit
• Factors to consider when pricing a job/product, e.g. customer, competition, product/service
• Pricing and the market including pricing tactics
• Pricing policy
• Monitoring price performance
• Write your pricing policy – do it right everytime!
• Action plan/checklist

Following the workshop you will be well equipped to:-

• Calculate product or service cost
• Price product or service
• Establish costing procedures and breakeven point
• Explain the nature and behaviour of different costs
• List and estimate overheads in running your own business
• Absorb overheads into product or service cost 
• Assess current costing and pricing procedures and prepare to make amendments where appropriate
• Explore different methods of pricing
• Decide on appropriate pricing tactics for your business
• Write your pricing policy