In this video, Mo Elyas, co-founder of Framing POS, sits down with framing consultant Sheila McCumby from Strategies for Success to dive deep into pricing strategies for picture framers.
Sheila shares practical methods to calculate break-even points, apply profitable markups, and set up pricing formulas in Framing POS software or any other point of sale software.
Whether you’re a new shop owner or an experienced framer, you’ll learn how to avoid common mistakes, stop losing money, and grow your margins sustainably.
Key Topics & Timestamps
•Introduction & Role Play Setup (0:03 – 1:15)
Mo introduces himself and Sheila McCombie. Sheila explains her background helping framers improve profits and efficiency.
•Understanding Profit Margins & Break-Even Point (2:01 – 6:05)
Discussion on calculating fixed expenses, average sales, and how many frames must be sold just to break even. Shows how small markup adjustments dramatically impact profitability.
•Markup Strategies & Why Discounts Hurt (6:17 – 9:44)
Examples comparing 2.5x, 3x, and 3.5x markups and how profits can triple. Sheila stresses why framers should avoid discounts unless strategically necessary.
•Implementing Markups in Framing POS (10:00 – 12:42)
Demonstration of how pricing formulas are built into Framing POS, ensuring consistency and accuracy compared to outdated spreadsheets or charts.
•Vendor Pricing, Freight, and Special Formulas (13:13 – 16:55)
How to account for freight charges, minimum markups, and labor costs when pricing moldings. Sheila recommends reviewing vendor invoices to balance shipping with profitability.
•Graduated Markups vs. Flat Markups (17:17 – 20:49)
Debate on whether to apply the same markup across all moldings or use a graduated system depending on wholesale cost.
•Confidence in Pricing & Customer Psychology (22:31 – 23:51)
Why framers must avoid projecting their own price sensitivity onto customers. Sheila shares examples from high-end clients who easily pay premium prices.
•Mat Board Pricing Best Practices (25:00 – 39:04)
Transition from linear pricing (molding) to surface area pricing (mat boards). Covers waste management, labor costs, and why undercharging for specialty mats can be disastrous.
•Using Framing POS for Mat Board Pricing (40:41 – 43:45)
Step-by-step look at how to apply formulas for mats in the software, including freight, labor, service fees, and descending markups for expensive boards.
•Glazing (Glass & Acrylic) Pricing (45:00 – 52:38)
Strategies for selling glazing by the sheet vs. square inch. Advantages of Framing POS’s built-in glass pricing updates (unique compared to other POS systems). Debate on museum glass vs. conservation glass and AR70 as a mid-tier option.
•Seasonal & Inflation Price Adjustments (55:00 – 58:34)
Introducing “peak pricing” (holiday surcharges) and “inflation pricing” (annual increases) inside Framing POS, inspired by Ken Bower’s methods.
•Closing & Free Consultation Offer (59:07 – 1:00:30)
Sheila highlights her free one-hour consultation for Framing POS users and invites shop owners to reach out for deeper profit analysis and productivity tips.
Sheila shares practical methods to calculate break-even points, apply profitable markups, and set up pricing formulas in Framing POS software or any other point of sale software.
Whether you’re a new shop owner or an experienced framer, you’ll learn how to avoid common mistakes, stop losing money, and grow your margins sustainably.
Key Topics & Timestamps
•Introduction & Role Play Setup (0:03 – 1:15)
Mo introduces himself and Sheila McCombie. Sheila explains her background helping framers improve profits and efficiency.
•Understanding Profit Margins & Break-Even Point (2:01 – 6:05)
Discussion on calculating fixed expenses, average sales, and how many frames must be sold just to break even. Shows how small markup adjustments dramatically impact profitability.
•Markup Strategies & Why Discounts Hurt (6:17 – 9:44)
Examples comparing 2.5x, 3x, and 3.5x markups and how profits can triple. Sheila stresses why framers should avoid discounts unless strategically necessary.
•Implementing Markups in Framing POS (10:00 – 12:42)
Demonstration of how pricing formulas are built into Framing POS, ensuring consistency and accuracy compared to outdated spreadsheets or charts.
•Vendor Pricing, Freight, and Special Formulas (13:13 – 16:55)
How to account for freight charges, minimum markups, and labor costs when pricing moldings. Sheila recommends reviewing vendor invoices to balance shipping with profitability.
•Graduated Markups vs. Flat Markups (17:17 – 20:49)
Debate on whether to apply the same markup across all moldings or use a graduated system depending on wholesale cost.
•Confidence in Pricing & Customer Psychology (22:31 – 23:51)
Why framers must avoid projecting their own price sensitivity onto customers. Sheila shares examples from high-end clients who easily pay premium prices.
•Mat Board Pricing Best Practices (25:00 – 39:04)
Transition from linear pricing (molding) to surface area pricing (mat boards). Covers waste management, labor costs, and why undercharging for specialty mats can be disastrous.
•Using Framing POS for Mat Board Pricing (40:41 – 43:45)
Step-by-step look at how to apply formulas for mats in the software, including freight, labor, service fees, and descending markups for expensive boards.
•Glazing (Glass & Acrylic) Pricing (45:00 – 52:38)
Strategies for selling glazing by the sheet vs. square inch. Advantages of Framing POS’s built-in glass pricing updates (unique compared to other POS systems). Debate on museum glass vs. conservation glass and AR70 as a mid-tier option.
•Seasonal & Inflation Price Adjustments (55:00 – 58:34)
Introducing “peak pricing” (holiday surcharges) and “inflation pricing” (annual increases) inside Framing POS, inspired by Ken Bower’s methods.
•Closing & Free Consultation Offer (59:07 – 1:00:30)
Sheila highlights her free one-hour consultation for Framing POS users and invites shop owners to reach out for deeper profit analysis and productivity tips.
