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Pricing for Small Business Profitability
Presented in partnership with SCORE/Northeast New Jersey
One of the most difficult decisions business owners face is how much to charge for their product or service. Understanding which price points motivate or dissuade consumers from purchasing is key to setting the right price. During this workshop, we will focus on the following:
- Types of pricing strategies
- Finding your break-even price
- Determining cost structure
- Marketing impacts on pricing
The workshop includes an interactive activity that helps participants to determine their business’s cost structure and how it relates to their current pricing.
Common issues facing entrepreneurs that this workshop will address:
How to make sure the price for your product or service is optimized for both you and the customer. How to take competition into account when making pricing decisions.
Activities and/or materials included in this workshop:
- Presentation on best practices and process for pricing
- Open Q&A with presenter
Benefits and/or outcomes of taking this workshop:
You will leave with an understanding of how cost structure affects pricing, how to link marketing efforts to your pricing, and how to use your pricing model as a tool for growth.
Workshop Fee: $10 advance registration and $20 at the door.
Keith Whelan is a training and mentoring officer at UCEDC, a statewide nonprofit economic development corporation that provides loans to startup and growing businesses, government contracting assistance, and training workshops to entrepreneurs and small businesses.
Prior to joining UCEDC, Keith held various marketing and business development positions at HSBC and also established businesses in the B2B lead generation and financial literacy fields. He served as lead consultant at the Middlesex County SBDC and has been a SCORE volunteer for the Northwest NJ chapter since 2012.