Setting the fees and rates for your business can often be one of the most daunting tasks a businessowner will ever have to do. I know it was for me. You come up with a figure in your head and think . . . “That sounds about right.” But then you look at it again and wonder . . .”Is it too high? Is it too low? Have I covered all my bases?” You check out what others in your industry are charging for the same services, and you diligently go over all of your projected expenses. But is that enough?
In the following article, Suzette Flemming, Flemming Business Services, shares 10 easy steps geared toward making the process of setting fees and rates a little bit easier.
By Suzette Flemming
Not too cheap. Not too expensive. It’s tough to be just right. What to charge for the services you provide is an incredibly difficult task. It is one that us business owner’s wrestle with when we open our doors and every time we are asked for a quote thereafter. I have seen advice that ranges from “test different prices” to “survey friends and family” to “pick a number.” However, there is a logical process for setting your fees.