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A GUIDE TO
price setting
YOUR PRICE SETTING SHOULD BE BASED ON:
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6
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1
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COMPETITION
LOCATION
YEAR OF
EXPERIENCE
TYPES OF
PRODUCTS
USED
QUALITY OF
WORK AND PHOTOS
TYPES OF
CLIENTS SERVED
I.E COLLEGE STUDENTS VS. BRIDAL
THE EXPERIENCE YOU OFFER
Competition
When setting prices, creating services, and creating a business plan for your business, checking out your competition is one of the first steps to take when designing your business. By researching your competition, it creates a faster track to seeing what works for a business versus what does not.
It helps you determine ways to bring in clientele as well as maintaining it. Make sure you research other artists prices, years of service, their level of experience, quality of work and pictures and then set your prices to what makes you comfortable but don’t sale yourself short.
Once you have done your research, your ultimate goal should then be setting yourself apart and being innovative with your brand.
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