setting prices

[wmerrill]

How should we go about setting inspection prices. The going rate seems to start around 200 in this area. I just don't know what that includes. Any thoughts, please help? </IMG>

[Scott Gilligan, CMI]

Price shop your compitition and see what they have to offer. Then set you prices slightly above, but not too much if you think you can do a better job.

[James E. Braun, CMI]

George Wells is teaching a free course on the CMI message board at 8:00 p.m. tonight central time that deals with setting price.

[James E. Braun, CMI]

Originally Posted by wmerrill

How should we go about setting inspection prices. The going rate seems to start around 200 in this area. I just don't know what that includes. Any thoughts, please help? </IMG>

200! I thought my area's prices sucked at 250. I am in the process of raising mine. The rest of the inspectors in my area should follow, if not so what. I am going to raise more than a operating cost increase. I get too many ravening reviews (expect from some Realtors) about my inspections to be charging like the other inspectors.

[Russel Ray]

First know your cost of business.
Then know what your competition is charging.
Then know what your competition is doing for what they are charging.
Then categorize your competition into how you view them as competitors.
Then set your price $15 higher than your lowest-priced Level A competitor.
Then offer a $20 gift certificate so that you are now the lowest-priced Level A competitor by a mere $5.
Now go out and market yourself persistently and consistently.
Then, when you get busy, do not rest on your laurels. Keep on marketing yourself persistently and consistently.

[rmaday]

Originally Posted by rray

First know your cost of business.

Second - know what your financial needs and wants are.

[Russel Ray]

Originally Posted by rmaday

Second - know what your financial needs and wants are.

Actually, that should be Roman Numero Uno, the key to determining why one wants to go into business for oneself, why one wants to leave six weeks of vacation and two weeks of paid sick leave behind with that other company in order to get no vacation and no sick leave self-employed, why one wants to work 18-hour days for oneself instead of 10-hour days for someone else, why one wants to work seven days a week for oneself instead of five days a week for someone else, and in what new industry since one is totally burned out on the previous industry because one had to work 10-hour days five days a week. Darn lunchtime margaritas.