V Groove Price

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Twice as much as a K groove. Dig?
 
For a V-groove, I charge the same as I do for a mat, minus the material charge. I have no idea if this is even close to what anyone else does, and I don't care.

Obviously, this is in addition the the regular mat charge.

All my other mat embellishment charges are then based on mutiples of the v-groove charge - things like colored bevels, etc.

Be happy. Ignore Less.
 
Try using the same system that almost all other businesses do to determine pricing.

1. Establish your costs of a product or service.Make sure your initial price reflects a favorable return on those costs.

2. Determine through competitive shopping what the current pricing is in your trade area.

3. Determine how you fit within the same trade area and adjust the price accordingly.

4. Monitor that price for a period of time and watch price resistance or acceptance.

5. Adjust according to the highest price without undue resistance.

6. Repeat as necessary as any condition changes.

If you do this on everything you sell, you should be able to maximize your gross profit. Skip any of the steps and you are just guessing.

The bottom line: Charge as much as the market will bear
 
Yup. That's how I came up with mat price minus material.

Except for perhaps some tape, a v-groove is pure labor. Time the next 10 or 50 that you cut to establish prices based on your hourly labor rate.

You DO have an hourly labor rate, don't you?

This might not work if you use a CMC. V-grooves are blazingly fast on a CMC, but you have to pay for the CMC.
 
I have my POS set up to charge by the U.I. I'm not in the shop right now, so I can't tell you how much.

Now that I have the CMC I don't mind doing them at all!! :D Mat cutting in general is fun now.
 
I appreciate everyone has their own special "formula" for pricing, some so convoluted that the MainFrame at NASA wouold have trouble with it.

But no matter what your formula indicates, it must be market-tested, market-friendly and market-wise. Above all other factors, the consumer will tell you if you are right or not.

So, if your formula tells you that $4.82 is the "correct" price, but all of your competition charges $7.50 or more, Who is right, now?

Don't forget this integral part of the equation. I promise, your market is much wiser than you. You just need to be smart enough to listen.
 
I was just thinking about the excuses shop owners might give for not shopping the competition. ;) , and how someone like Bob might be to them.

I'm too nice to shop other framers.
(This would be me.)

I don't have time.

I feel like I'm cheating when I shop other framers.

I can't afford to pay someone to shop other framers.

I don't know where to find somebody to shop for me.

I don't care what anybody else charges, I'm making enough money.

I don't wanna put that much effort into it.

I can charge what I want because I'm better.

I don't know what questions to ask.

:confused:
 
I shop the competition, but most of them know me now. Oh well, I can still check out pricing, and either visit with or horrify the framer.

I buy stuff, too. The competetors don't hate me as much when I do that.

The only place I never go is Michaels. For some reason, we always have better prices than them and their store is very dirty and cluttered.

That doesn't make sense.

We have a Hobby Lobby and a couple other custom frame stores, too.
 
I charge by the UI (united inch). This table has served me well for many years.

18 UI = $4.00
24 UI = $4.50
30 UI = $5.00
36 UI = $5.50
42 UI = $6.00
48 UI = $6.50
54 UI = $7.00
60 UI = $7.50
66 UI = $8.00
72 UI = $8.50
Oversized mats add$10.00

 
Just checked mine and it is .15/UI With a $3 set price. For a double v it's .22/UI With a $5 set price.

Mabe that's to low but it seems to work for me. Now that I have the CMC I don't need tape. This thing does have great advantages!(The CMC)

How I got my CMC was with prayer and A Mother that loves me!!!!!! :D
 
Mark, your Wizard is fast and convenient, but not free.

I have to repeat a story I haven't told for a while. Years ago, when I first got my Vacuseal press, I did some dry mounting for my sister. I did give her a deal but, after watching me mount all her prints in one batch in under 5 minutes, she was still astounded at the high price.

I explained that the reason it was so fast and easy was because I'd just spent $4500 on a press. She gave me that big sister blank look and said, "Well you don't expect your customers to pay for it, do you?"

Maybe not the first one but, yes, I fully expected my customers to pay for it. And, thankfully, they have - many times over.
 
That was my price befor the Wizard.

I don't want to raise my prices on everything just because I have the wizard. I have enough people walk out the door because they think my prices are to high. I was joking on another thread about sending them to Framerguy for his estimate, but in all seriousness, I could do that and feel very comfortable that I know the outcome.
 
Mark, I wouldn't presume to tell you how to price your work. I just like telling that story.

For what it's worth, I'd charge $9.50 for the 80 U.I. v-groove and $24.00 for the 72 U.I. I don't sell a lot of v-grooves, but it isn't because people balk at the price. I just don't get that excited about them, so I rarely show them.

I think v-grooves are an item you can charge whatever you want for. I don't see a lot of customers calling all over town comparing v-groove prices.
 
Ron,

Not to make your head any bigger than it is ;) , I think about your story quite often. You have made an impact on my everyday business practices!! I am still on the right track, I believe. The customers in this area are just hard to come by, at this time. But I'm not complaining. Yet!!
 
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