Welcome! In this video blog, I am going to answer the number one question in the balloon industry – “How much should I charge for this?”. Watch the video below to learn a quick and simple way to get your balloon pricing right every single time – better yet you can do it anywhere as long as you have a calculator on your phone! So grab a cuppa and learn how to stop guestimating and start pricing for profit in your balloon business!
Pricing is always the number one conversation on all the balloon forums across the world. There are so many “how much should I charge for this?” type posts as new and experienced balloon biz owners struggle to get to grips with pricing in their business. There are two main reasons why asking this question could be detrimental to your business.
The first is it’s actually illegal for two competing companies to agree on what a product should be priced for – It breaks the anti-competition laws and can be viewed as price-fixing – there are huge fines associated with this.
The second is that by listening to others you could be actually basing your business decisions on bad advice! I hate to break it to you but many people in this industry are selling way below what they should and by not working out your pricing yourself you are not taking into account your OWN costs of running YOUR business.
Selling below the minimum selling price for your business means you will not give your business sufficient income to operate and generate profit for growth, pay your overheads and pay you enough wages to give you and your loved ones a decent standard of living.
You Must Get To Grips With Pricing Your Products!
It’s essential that you, as a balloon business owner, get to grips with how to price your balloon products. There are lots of tools at your disposal to do so… yet despite this fact, many people still struggle to price properly.
It was an issue I had in my business too because I didn’t always have my laptop to hand to be able to pull up a spreadsheet or job costing form. Often I was pricing on the settee at night (pretending to be having family time watching the tv), or at the school gates waiting to collect the children, or out on a job – times when I couldn’t plug my figures into a spreadsheet – and this meant many times I ended up “guestimating” rather than ensuring correct prices were being passed on to the customer. The result, therefore, was that often I was working hard in my business and not making nearly enough profit!
To get around this I came up with a simple and quick way to calculate prices just using the calculator on my phone and I am going to share this with you in this video so you can finally get to grips with your pricing and charge correctly every single time!
In this video I am going to walk you through:
- What is profit and why you need it in your balloon business
- The consequences to your balloon business if you are not pricing for profit.
- What are overheads?
- What are direct costs?
- How much should you be charging for your time?
- How to calculate the cost of helium to inflate balloons.
- The Industry standard amounts for profits and overheads
- Why you might need to flex these amounts in your balloon business.
- HOW TO CALCULATE YOUR PRICES ~ A quick and easy system for pricing on the go – you can literally do this anywhere!
- What you need to be doing moving forward to get your pricing up to scratch fast and start building a profitable and sustainable business.
If you would like more help to GROW your business, you can also access the FREE Resource Library Here at the Balloon Biz Academy.
- Printable workbook to calculate your pricing on the go and have as a reminder.
- Helium Pricing Cheatsheet – a printable for most of the common cylinders – each showing how many of the most popular balloons you can get from it – Simply divide the cost of your cylinder by the number ~ fill in the sheet and either take a photo to store on your phone or print it for your diary. Now you won’t have to do the same calculations for helium every time! You will have it to hand for fast and easy pricing!
- How much helium is left in my cylinder Cheatsheet.
- 20 Ways to Market Your Balloon Business
- 200 Reasons People Need Balloons Other than Birthdays – open up a world of opportunities worth thousands of pounds.
- Free Cut files and so much more
I hope you found this video blog useful! Let me know in the comments if you will implement the quick and easy method of pricing in your business!
🎈Until next time… Stay Amazing!🎈
Find The Other Videos In the Pricing For Profit Series By Clicking on the Images Below
Hi there! It’s so great to have you here! Having grown my own balloons and venue decor business I really want to help you grow a profitable and successful business too! I can’t wait to see where your journey takes us! Make sure you come to join us in the FREE community and accelerate the growth of your business – The Quick and Easy Way!
Until next time… Stay Amazing!