Pricing is certainly the hardest decision to make as a business owner. You need to be competitive, cover company costs and pay yourself / employees / contractors fairly.
Inner city areas are typically better paying because of the higher rent, but there will be more competition and extra costs like parking. Outer city areas may have less competition but have extra costs like fuel and a lack of public transport, so a car is necessary.
Overall, the time factor is similar, inner city clerks will typically have less distance to travel but be using public transport while outer city clerks will have further to travel but will be in a car. Unless you’re one of the lucky few that has 4 jobs in one block, most of the travel times will be similar.
Here is a short list of considerations you need to ask yourself when pricing.
- Area – Some areas are just more expensive than others. You will know your local area and the rental prices that they attract.
- Competitors – What do they charge and what level of service do they provide, don’t price match your reports if you are producing a report that is 10 times better than the competition.
- Associated Costs – Does the area have expensive parking, public transportation and will clients be charged extra or will you incorporate it into the price.
- Overheads – Though you can run any company with minimal overheads, you need to make sure you will cover your own business costs with any job.
- Number Of Jobs – Like any other purchase, business or personnel, there is always a discount to be had when purchasing in bulk. An agent providing you with 20 jobs a week vs 3 jobs a week will have a very different-looking price sheet.
There are many considerations to pricing foremost will always be competition. Some potential clients are happy with a basic 8 page inventory costing £30, others want the level of service Professional Inventories App users can provide. Having the ability to adapt to the way you work and your reports is key to providing the best service at a price that suits you and your clients.