express2100 154 Posted September 11, 2014 What percent mark up are you all putting on painted aluminum blanks? I've been rolling out a few of these and want to make sure my mark up is fair for both parties. Thanks ......Mark up on materials is a tough one for me.....I hate the idea of overcharging good folks! Share this post Link to post Share on other sites
HDN 95 Posted September 11, 2014 Do not worry about overcharging. If people do not like your price they will not buy from you. Be more concerned about being fair to yourself. David Share this post Link to post Share on other sites
express2100 154 Posted September 11, 2014 <blockquote class='ipsBlockquote'data-author="HDN" data-cid="370972" data-time="1410430597"><p> If people do not like your price they will not buy from you.<br /> <br /> David</p></blockquote> Precisely Share this post Link to post Share on other sites
express2100 154 Posted September 11, 2014 How accurate is the info in the Signwriters & SignCraft guides? As a new shop would they be worth having one around? Share this post Link to post Share on other sites
signyouup 178 Posted September 11, 2014 Don't forget to include Shipping & Handling costs when figuring out your price. 1 Share this post Link to post Share on other sites
jaybyrd 3,770 Posted September 11, 2014 I have a sign craft guide and in this area you'd most likely have a pretty empty shop on all but their lowest scale and then it really depends on your clientele. 1 Share this post Link to post Share on other sites
101LEDs 100 Posted September 11, 2014 Have a set price for the substrate and price accordingly for the complexity of the design, material cost, and time it will take to complete. And factor in what the odds are that they will be a repeat customer or what they may need in the future. 2 Share this post Link to post Share on other sites
mabscotthandyman 1,410 Posted September 11, 2014 I mark up 100% on material. I sell plastic letters at a 100% mark up by buying wholesale I pay only half of the retail price shown in the catalog giving me a nice profit plus install. Same with substrate why would you not charge enough to make a nice profit. 1 Share this post Link to post Share on other sites
express2100 154 Posted September 11, 2014 So a set markup % is not the norm? Seems like an easy route for a starting point at least. I understand this is personal but I could really use some guidance in this area. PM me if you don't want to post it. I obviously want to make a nice profit without pricing myself out of the market. What I absolutely do NOT want to be is one of these price choppers hacking the market to bits just to make a sale and devalue the industry. Share this post Link to post Share on other sites
jaybyrd 3,770 Posted September 12, 2014 Call around and get quotes from other local shops. they price check me once in a while but if I recognize the number I give them a stupid low quote just to mess with their heads 2 Share this post Link to post Share on other sites
express2100 154 Posted September 12, 2014 I do price shop but they are not going to tell me what their mark up is. Sure I can break it down and take a guess but I have no idea what their costs are per blank. just thought you guys used a set % Share this post Link to post Share on other sites
Go-C Graphics 856 Posted September 12, 2014 Call around and get quotes from other local shops. they price check me once in a while but if I recognize the number I give them a stupid low quote just to mess with their heads Wouldn't you want to give them I HIGH quote? Then they think they can raise their prices giving you the advantage of the lower price. Share this post Link to post Share on other sites
101LEDs 100 Posted September 12, 2014 I do price shop but they are not going to tell me what their mark up is. Sure I can break it down and take a guess but I have no idea what their costs are per blank. just thought you guys used a set % In the end, all that matters is if you can meet or beat the retail cost of the competitors to win the customer, and hopefully their loyalty. Offer to price match or better with proof of the competitions price. Share this post Link to post Share on other sites
jaybyrd 3,770 Posted September 12, 2014 Wouldn't you want to give them I HIGH quote?Then they think they can raise their prices giving you the advantage of the lower price. I Love to think of them scratching their heads trying to figure out how I do it so cheap plus every once in a while they tell customers that they'll price match and they get stuck doing it for pennies on the dollar. For anyone wondering I do not price match here so I have no worry about this backfiring. Share this post Link to post Share on other sites
mabscotthandyman 1,410 Posted September 13, 2014 In the end, all that matters is if you can meet or beat the retail cost of the competitors to win the customer, and hopefully their loyalty. Offer to price match or better with proof of the competitions price. All that matters is making a decent living/profit from your expertise and labor if you cant make a decent profit why even do it. I worked for a friend that was a contractor many years ago he would, only pay me 6 bucks an hour but would let me work a hundred hours a week if I wanted I finally grew a brain and figured that I should not have to work a100 hours to make what I should in 40 so dont price just to get a job but to make a decent living at the same time. 5 Share this post Link to post Share on other sites
101LEDs 100 Posted September 13, 2014 I think you took it wrong, making a fair profit had already been established. He probably has to pay more for supplies than a company who orders in bulk, doesn't have all the tools they have available and hasn't been doing it as long. So can he still beat their price? Only he knows what he wants to make. If you try to get every penny possible every time, customers will be few and far between. Sometimes making a few dollars less upfront pays off down the road with repeat business and good recommendations. Freebies should only come with a tax deduction receipt. 1 Share this post Link to post Share on other sites
Sue2 920 Posted September 13, 2014 Sometimes making a few dollars less upfront pays off down the road with repeat business and good recommendations. Freebies should only come with a tax deduction receipt. ++++ Most times making SOME profit is better than making none. If you are too high and lose the job Profit = $0 Finding the balance point in YOUR AREA is the trick. Time for the Secret Shopper! Find out what the local prices are. Call around or have a friend shop. People don't mind paying a LITTLE more if they feel they're getting more...friendly help, advice, better quality, etc. What do YOU offer that your competition can't or doesn't? Sue2 1 Share this post Link to post Share on other sites
Wildgoose 4,200 Posted September 14, 2014 I also have certain items that I sell pretty cheap. It brings customers back again and again and they tend to remember other things they want done that I can make good money on. For instance I do kids names on jerseys for $3 a pop. One at a time or 20 I don't care and it brings them in by the truckload. Share this post Link to post Share on other sites
mabscotthandyman 1,410 Posted September 14, 2014 I think you took it wrong, making a fair profit had already been established. He probably has to pay more for supplies than a company who orders in bulk, doesn't have all the tools they have available and hasn't been doing it as long. So can he still beat their price? Only he knows what he wants to make. If you try to get every penny possible every time, customers will be few and far between. Sometimes making a few dollars less upfront pays off down the road with repeat business and good recommendations. Freebies should only come with a tax deduction receipt. No I think you missed my point you have to price to make a profit after hard cost and overhead whether that be more or less then the competition. If you do not make a decent profit you may as well work at McDonalds of course unless it is just a hobby/past time and you have a full time job Share this post Link to post Share on other sites
