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Unread 03-03-2013, 04:21 PM   #13
Rickybobby83
Is lookin for wood to cook with.
 
Join Date: 11-24-12
Location: Clarkston,MI
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Default What do I charge???

Quote:
Originally Posted by Hawg Father of Seoul View Post
I don't mean to be a wet blanket, but this is a backwards approach to running any business.

Research your market. What will the market tolerate? Then you can tell if you can adjust your food cost to that mark or if it the venture is even viable.

Run it like a business or call it a hobby.
True! I'm a business banker by trade and that's one of the biggest issues I see with small businesses. Their prices are so low they literally starve their profit margins. It's not a question of what you should charge, but what your clientele will pay.

I you go out to say Famous Dave's and order something and the total bill is like $50 bucks. You didn't eat a whole brisket, chicken or slab of ribs, but just a portion.

You can choose to charge higher and do fewer gigs, or charge lower and do more gigs. O maybe somewhere in between. An easy way to test this is to do a small market test. Deliberately set 3 different pricings and see what gets the most response. Or ask your clients what they think. Also a good opportunity to see what you can do better.

Not sure how serious your plans are (don't mean in any negative way), but if you're trying to turn it in to a business with minimal overhead/startup I recommend reading the $100 start up by Chris guillebeau (sp?). Just my opinion good luck, hope this helps.



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