Setting Prices

4 min. read

Unless you’re joining an existing practice as an associate with established prices, determining how much to charge for your services can feel overwhelming. It actually is one of the trickiest bits of being a business owner.

This is a great time to enlist the advice of your accountant. He or she can help with the expense side and budget to help bring the needed fees into focus. Until then, you can start with the following suggestions.

Take 3 Steps

There are three steps you need to take before you can set prices.?

  1. Do some market research. What are your peers in your community charging for similar services? You can try to discover this by checking out their website and their social media pages (they may offer discounts that give you some insight), or even calling.?
  2. Figure out your costs. Overhead, labor expenses, and materials cost should all be included when you’re calculating expenses. Once you have this number, you’ll know how much revenue you need to generate each month to break even.

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