How to Price Your Product or Service

Pricing is an area where owner operated businesses generally struggle. The basics of determining the best price to charge for a product or service are explained. Several hands-on exercises are provided to assist participants in understanding the application of the concepts.

Topics include:
How to determine if a cost is fixed or variable
How to calculate a gross margin
What costs belong in inventory
How to determine the breakeven point for each product or for your entire business
When should you sell at a loss
How to determine if you are “making money”