How do you set your prices?

[lorinajac]

Did you have a hard time setting your prices for centrepieces and bouqets?

How did you know how much to charge?​

 

[BOSS]

How did you know how much to charge?​

COGS x 3.5 for fresh, x 2.5 for hard goods then add labor
Everyday designs 20-25%, Sympathy 30% and Wedding work, corsages etc 30-35%

 

[lorinajac]

COGS x 3.5 for fresh, x 2.5 for hard goods then add labor
Everyday designs 20-25%, Sympathy 30% and Wedding work, corsages etc 30-35%

Sorry, at the risk of sounding stupid....what is COGS? :hammer: and do you mean muliply it by 3.5 times?....

what about labour...how do you charge for that?

 

[twiggy]

cogs = cost of goods sold
the cost of a carnation wholesale @ .35 x 3.5 = 1.23 to your customer.

make that same carnation into a bout.. add floral tape, wire, and a corsage pin (with markup) and charge for the time you spent making it. it's usually 25% to 35% and even higher sometimes for more time consuming designs. I hope this helps

 

[lorinajac]

thank you so much....:hug:..

that makes sense...I was only going to multiply it by 3, but 3.5 sounds good to me. :beer

 

[BOSS]

what about labour...how do you charge for that?

There are no stupid questions here!

If an arrangement is $100.00 then 20-25% of that is for labor. Likewise if the components of a wedding bqt total $250.00 then adding 30-35% of the COGS gives you the selling price.

 

[jeannieballerini]

One of the nicest things about this board is that there never has nor never will be any stooooopid questions!!!!!
The answer is always easy only if you know it!!
jeannie