Pricing your services and products can be one of the hardest aspects when setting up a business. You don’t want to under charge and not earn enough money and you don’t want to over charge and turn people away.
There are four principles you need to consider when thinking about pricing:
Value of what you offer
What you want/need to earn
Valuing yourself is the first aspect you need to be thinking about. If you don’t value yourself, who else will? By valuing yourself you will look professional, organised and confident. It will show in the business you conduct and people will expect this when paying for you to provide your services.
When setting your prices, you also need to take into consideration your competitors. What packages are they providing, what services do they offer and what are their prices, times etc. Make sure you find people with similar experience, qualifications to get a good guide on what to charge otherwise you may be undervaluing your abilities.
You need to be thinking about the value that you are offering. What would you expect to be charged for the services you provide? Also think about how much you want to earn and need to earn. Be realistic about this, we’d all love to earn lots of money for little time but in reality this probably isn’t going to happen straight away. Be realistic with your prices but never undervalue what you do.
So have a look at what you are currently charging and what you want and need to be charging. Take into consideration what others are charging and then you could always ask you current clients about how they feel about your charges. Get a good overview and then go from there.