Set Right Pricing

May 01, 2024
Set Right Pricing -
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It's fair to say that pricing yourself isn't simple when starting out. You need to find the right clients for your business, figure out your value, and decide how to charge – project-based or hourly. The reason this is difficult is because all projects and customer requirements are different. Once you know this, it can seem overwhelming. On the other hand, it can be much easier. Once you educate yourself on how to react and adapt a deal according to your customers' requirements and skills, it makes your business highly efficient.


There are many ways to price yourself, and it all depends on what works for you, your work style, and your business. Know the strategies available and choose what works best for you.

Choosing Your Pricing Model: Advantages and Disadvantages

You generally have two options to make money: you can charge a lower rate and do more small jobs, or you can charge based on your worth and only work with high-paying clients. You can also do both and make money either way, but you must have a solid pricing strategy if you want to reach certain goals.

Here are a few common pricing methods with their advantages and disadvantages:

1. Hourly

Designers, painters, decorators, and tradesmen commonly use an hourly rate. It's important to track how much time you spend on a project if you have a per-hour rate.

2. Flat Fee

A flat fee is a great pricing strategy for newbies trying to get work fast. However, it can also work well for experienced campaigners.

3. Retainer

Retainer pricing involves a customer paying a set fee for an agreed-upon amount of work or services delivered over a specified period. The customer pays a fixed amount upfront and receives a guaranteed level of services and support from the provider. This type of pricing is often used by consultants, lawyers, and other service providers who want to secure a steady stream of income and provide ongoing support to their clients.

4. Charge by Square Metre

This pricing method bases the cost on the area or square footage of the project. This is common in construction, interior design, or landscaping where the size of the space affects the overall cost. The price per square metre is calculated based on factors such as materials, labour, and overhead costs. The total cost is determined by multiplying the square metre rate by the total square footage of the project.

5. Charge by Percentage of Completed Project

This pricing method charges the customer a percentage of the total project cost based on how much of the project is completed. This allows the business to adjust the cost as the project progresses and can be more flexible than other methods. However, the customer may end up paying more if the project takes longer or requires more resources than expected.

6. Mixed Rates

Mixed rates involve combining two or more pricing methods, such as a fixed fee and an hourly rate, to come up with the final price for a project. In the case of a tradesman, this means a fixed fee would be set for the project, with additional hours charged at an hourly rate if needed. This type of pricing allows for some flexibility while still giving the customer a clear understanding of the total cost upfront.


Maximising Your Earnings

Referral Discounts from Paint Suppliers

You can benefit from referral discounts offered by your suppliers. This provides customers with another incentive to work with you, and even if they don't choose your services, they can still use the discount code, allowing you to earn from the opportunity.

Finding your value and your worth

Get ideas from competitors, don’t copy as their strategy works form them, it might not work for you, but more importantly copying other work it just a short term solution to reach your goals, the reason you want to get ideas from your competitors is because you should always be open to learn what’s working for other people too, as the more knowledge you get, the more experience you become and further ahead find right ways works for you  - you can also learn what they doing, what types of materials they're sourcing and how they determine they’re worth and successfully close deals , always be open to ask decorators , most of the time decorators like helping other decorators along as you're not taking their job ;)

 Determine how much you need to earn

Have a plan and stick to it but don’t be afraid to adapt to your circumstances as life throws lots of challenges in front of our face which helps us grow even more in the long term. Pricing is part one but the next part is getting your customers and closing deals, Get better at expressing your value to customers where its a unperson consultation or your website or your conical media presence, educate the customer on what they’re getting for their money, assure them before they ask about their bough and things you will take care of what a unprofessional trade-men wouldn’t,

Closing the Deal and Building Your Business

Maintain high standards for your business.

You must do more than the minimum to ensure your business is a model for excellent customer service. Be polite on the Job-site and be kind and courteous with customers and potential customers.

need to do more researching on this topic according to what decorators think of this google "What should I price as a decorator starting out"

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