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Pricing



Overview
 

Pricing your work can be a difficult thing to do, some rely on their instincts of what they believe is a fair price while others make assumptions based upon what others are charging, what the markets will stand or what they believe their customers can afford.

These are all valid points. However they are not accurate financial indicators to your individual business circumstances, meaning that we all have different costs, profit margins and overheads and therefore all will have different pricing policies. You need to know whether your business will be in profit when quoting a figure or if you are making a loss. More importantly you need to know what your “break-even” point is.

This pricing guideline will enable you to break down each element of your business expenditure, (material and overhead costs etc) including the biggest expense YOU. You must consider how you value yourself and your time not only as a creative person but as a consultant and business person and how much you have invested so far in reaching this professional level. The guideline will also help you to consider what may go wrong or to take account of unforeseen costs and make sure that your business has some money left in its account at the end of a project.

You might want to try out different variables when using this format, but remember, once you have decided the figures and percentages you are going to use, stick with them and don’t change them, otherwise this will cause confusion. You are better using one consistent format for every market place or customer.

A = Material Costs
 

What materials are you going to require to undertake a task, co mmission or project? These may include experimental, mock-up or proto-type costs as well as materials needed to fulfil your order.

B = Overheads
 

  • You need to include some overhead costs - you may be using a room in your house and this will use a percentage of the house outgoings, lets say one sixth of all costs.

    • Rent/mortgage
    • Electricity
    • Broadband
    • Water
    • Rates
    • Heating
    • Phone

    Calculate the total amount of costs based on last years statements, for example £5000 ÷ 6 = £833. Lets say that you work 40 weeks per year on the business: £833 ÷ 40 = £21 per week and you are working 15 hours per week: £21 ÷ 15 = £1.40 per hour, this might not seem a lot, but is still a legitimate cost for your accounts. The Inland Revenue would have no problem with you submitting this as an on-going expense.

    You can also do this if you have business premises - just divide your annual outgoings.

C = Labour @ £15 per hour (e.g.)
 

This is entirely up to you what you set your rate at but you must consider yourself as a professional, not an amateur. You must also bear in-mind that you won’t be working full time on the business all the time, you don’t get sick pay or holiday pay and most importantly it is you that takes the risks: the buck stops with you!

Look at what other creative people are charging.

Avoid charging yourself at the same rate as a low paid employee.

There are many different ways in which people cost their time, some by the hour, others by a half day or a full day rate, a lot of this is dependant on what you do, i.e. if you are a sculptor producing an artwork this would most likely be charged at an hourly rate, if you are delivering a 2 hour workshop session you would probably charge a half day rate (given travel and prep work).

D = Contingency 12% (e.g.)
 

You are most likely spending additional time on the business that you haven’t accounted for (bits of travel, sketching ideas, nipping out to the shops to buy materials etc) and also spending small amounts of money on the business that you aren’t considering (emails, internet, small items): you do need to account for these.

Also you need to add a percentage into your budgets for anything that could go wrong (installation problems, extra material costs, extra delivery/ transport costs, breakages etc).

This percentage is called contingency and it covers you for all of your unseen cost. What you set your contingency percentage is up to you, but you need to consider your risks, i.e. a painter may have a lower risk and therefore charge 7% and a public artist will have a higher risk and may have a contingency of 30%.

E = Profit @ 30% (e.g.)
 

At the end of the day you need to remember that you have a business and that business needs to have some money left at the end of a project or end of the year. If you can get into the mind-set it is useful to consider yourself as an employee of your business, i.e. the business is one entity and you work for it - separate it out. Profit can be used to buy new equipment, update your website, get new brochures, or give yourself a bonus …. The average national profit margin is 24% and again it is up to you to set your margin.

The main thing to remember in all of this is that when you set your formula stick to it and don't keep changing it to suit an audience or what you think your product/service that you have just created or delivered is worth.

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News

18 results found, page 1 of 2.  
Huddersfield house developer snaps up former fire station

Wednesday 28 June 2017

A Huddersfield-based house developer has purchased a former fire station in the town, which was marketed at an asking price of £250,000. SB Homes has acquired the Old Fire Station on Manchester Road in Marsden from West Yorkshire Fire Service. The developer hopes to turn the brownfield land into a residential rental development, primarily for people aged over 50. The 108-year old property has been empty since 2005 when part-time firefighters moved to the adjacent building, Emergency House. Managing director Stephen Byram is also set to purchase adjoining land at the back of the site, from Northern Gas Networks, making the development 20,000 sq ft in total. It occupies a prominent main road position on the A62, with Huddersfield town centre located 7 miles to the north-east. Stephen commented: “This piece of land has been on the market for a number of years now, and currently retains planning consent for use as a cafe and yoga studio. We’ve acquired it because of its prime position, just a two-minute walk from the village of Marsden — it’s perfect for over 50s who wish to retire and/or downsize. “The build-to-rent sector is typically aimed at younger generations who find it difficult to get on the property ladder, but we find that in a village setting this generally works equally well for older generations. Many over 50s want to release equity from their houses to enjoy their retirement.” SB Homes is submitting plans to Kirklees Council, following a positive pre-application consultation. Steve Mitchell, SB Homes’ designer said: “We are hopeful that this will be passed with planning consent. We’ve put a lot of thought into how it will work — we want to keep the original frontage and create communal garden spaces. A living wall planter has even been designed to make it a green building — not only for attractiveness but also to act as an additional insulator. We really want to create a sense of community for the tenants who will eventually live there.” The family-run house building firm is currently developing Empire Works, a scheme of 60 bespoke homes alongside the narrow canal in Slaithwaite, Huddersfield. Past developments include Ancion Court, a housing scheme for over 55s and Deer Hill, both in Marsden.
Posted by Byram, Amy
ABL Business expands into North Yorkshire

Wednesday 21 June 2017

Yorkshire-based business support consultancy ABL Business Ltd are expanding their operations into North Yorkshire. The company, which offers commercial finance and marketing support to SMEs, has engaged Fraser Irvine as an Appointed Representative to cover the county. Based in Harrogate, Fraser will be operating across the area, offering a full mix of commercial finance services. He will assist SMEs in raising the funds they need to trade, grow or stabilise their business, using all the funding lines and capabilities of ABL Business. It marks the third recent growth for the Cleckheaton-based company, who recently set up a new office in Scotland with two representatives just over a year ago and expanded into the North East region in March this year. Fraser Irvine is an experienced Independent Commercial Finance Broker and joins the company with an extensive career in financing businesses under his belt. He has spent almost 30 years working with asset and cash flow funders, which gives him a deep understanding of the financial needs of an SME business. Fraser has worked with new start businesses, as well as more established companies, arranging funding facilities to suit individual needs. His interest in business finance has also enabled him to gain extensive experience in the Management Buy-out, Management Buy-in and transactional market as a whole. He said: “I have known ABL Business and its owners, Andy Redman and Alex Beardsley for many years and really like the independent and client-focussed approach they adopt, so I’m very excited that I’m now joining the team. “ABL Business has access to a vast range of funders, which means I will benefit from being able to offer clients financial solutions that are tailored to bespoke needs. I am keen to help clients from new starts to multi-million turnover businesses to grow and achieve their full potential.” ABL Business Ltd and their appointed representatives have access to over 70 funders, enabling them to find an appropriate solution, no matter what a client’s financial requirements may be. ABL Business Director Andy Redman said: “We’re delighted to welcome Fraser to the team. He has a wealth of experience, which he brings with him from the financial sector, and in business too. Fraser, with his connections and knowledge, will be a real asset to ABL Business and to companies across North Yorkshire. His appointment has enabled us to expand our reach into yet another area and help even more businesses find funding packages that suit their specific needs”.
Posted by ABL Business Ltd
Huddersfield design firm Aye! Agency strengthens team with appointment

Thursday 08 June 2017

Huddersfield-based branding firm Aye! Agency has taken on a fourth team member to support continued business growth and a string of key project wins. The graphic design role will see Danny Stead delivering branding and website design projects, as well as ongoing client marketing materials, ranging from brochures to advertisements. Joining Aye! from Studio 116 in Batley, Danny comes from an agency background and has worked with a variety of clients ranging from antique dealers and footstool designers to coffee chain Starbucks. Commenting on the appointment, Aye!’s director and founder Oli Smith said: “We’ve recently won some great projects which have created a real buzz in our office. We’re itching to get started and Danny will support us with these from the outset. “It will also give us capacity to achieve continued growth throughout the rest of the year. We’re not about sitting still. We’re always pushing forwards and looking for the next opportunity to help other businesses to grow. We now have extra man power to let us do that.” Explaining why he chose Danny for the role, Oli added: “Before I even started recruiting, I knew that I wanted Danny on board. I studied with him at Batley School of Art, where he qualified with a 1:1. And he shares all of our company values — being down-to-earth, fresh and innovative — things that all of our clients value. So when he said he was interested, I knew we had to hire him!” Aye! Agency delivers everything from company rebrands and website development projects to video and magazine production. Clients work across a range of sectors, and include divorce law firm Austin Kemp, firefighting vehicle manufacturer Rosenbauer and chartered accountants Crowther. Danny said: “Having known Oli and Andy since 2009, I always knew that Aye! would become a success in the design industry. When we graduated from the Batley School of Art in 2014, they set up the company in Oli’s garden shed, whereas I decided to join a local agency for some industry experience. “However, when Oli gave me the news that his business was looking to expand, my mind was already made up. You cannot beat working alongside like-minded people who share a collaborative vision. I am genuinely excited to see how far Aye! can grow.”
Posted by Byram, Amy
Social Progress MD selected for Digital Women Debate Panel

Saturday 03 June 2017

During the Digital Marketing Roadshow - Wigan on Wednesday 7th June at DW Stadium five leading industry experts will be coming together to discuss diversity in Digital and how gender balance is being addressed. The day has a very exciting list of digital related seminars throughout the day including a Google Digital Garage session on 'Reach New Customers Online & Know your Business with Google Analytics.' The Digital Women Debate is being hosted by Naomi Timperley who runs Coo Digital & is a Tech North Advocate. Social Progress, owner and MD Janet Bebb is one of the five panelists discussing gender balance in the digital along with Debbie Edwards, F Disrupters, Wendy Bowers at Role, Melissa Conlon, Commercial Director at Magma and Aaron Crewe from novi.digital. Big Screen Social our highly visual Twitter Wall will also be featuring at the event displaying the photos, branding and messages of delegates, exhibitors and speakers via hashtag #DMRoadshow helping to spread the word about the full day event and reach an online audience. This free to attend event is part of a series of Digital Marketing Roadshows taking place across the North West of England organised by Launch Events. https://www.socialprogress.co.uk/social-progress-selected-for-digital-women-debate-panel/
Posted by Social Progress
Yorkshire Spring Manufacturer appoints Vizulate as digital marketing agency

Friday 02 June 2017

Yorkshire spring manufacturer JB Springs (John Binns & Son (Springs) Ltd) has appointed Brighouse-based Vizulate Digital as their web and digital marketing agency. Following a review of the JB Springs’ marketing strategy Vizulate will be working with the directors and internal sales and marketing team to implement a range of digital marketing activities, including the design and development of a new website aimed at increasing sales leads. Established in 1895, John Binns & Son (Springs) Ltd has witnessed many changes in the manufacturing landscape, whilst remaining a family-run company. John Binns now proudly operates from purpose-built premises equipped with the latest technologies in the production of springs and wire forms. Speaking about the appointment of Vizulate Digital, JB Springs Director Alex Driver said: “The increased investment in our production technology over recent years is testimony to the company’s commitment to stay at the forefront of spring manufacturing in the UK. “We wanted an agency that could not only help drive our future growth digitally, but also understand our heritage and pedigree, which has been built on delivering exceptional customer service. The appointment of Vizulate as our digital agency partner is a reflection of our commitment to investing for the future and our desire to utilise digital communications to enhance our customer engagement.”
Posted by Vizulate Digital
The benefits of being a member of Kirklees Business Hub

Friday 26 May 2017

Earlier this year, we returned from the Objective Management Group (OMG) International Conference in Boston, having won two awards, best new partner or "rookie" of the year award and an outstanding performance award. We wrote an article about our achievement on Kirklees Business Hub and included information about how we support businesses with improving their sales. The news article was subsequently shared by the team at Kirklees Business Hub on LinkedIn and Twitter. As a result of the article being shared, we received two new enquiries. One of the new enquiries is a business based in Kirklees and the other prospect is based in South Wales. Our business is already experiencing the benefits of the hub and we would encourage people to share their news. More importantly, attend the excellent events that are organised. The one I attended on Wednesday at the 3M Innovation Centre was excellent. It is a great opportunity to learn and make contacts with like minded local businesses.
Posted by Momentum Sales Solutions Limited
Senior appointment announced for high voltage power engineers

Friday 19 May 2017

Elland-headquartered power engineering firm Smith Brothers has appointed Danielle Tile as head of business development. She joins from national electrical design consultancy British Power International. Based in Essex, Danielle will strengthen the team's presence in the South of England, whilst investigating new market opportunities throughout the UK. Although many opportunities are emerging in the renewables sector – an arena in which Smith Brothers is renowned – she will in fact be responsible for exploring major electrical infrastructure projects for a variety of clients. The hire is the latest announcement to mark the high voltage experts' ongoing expansion. Commenting on her reasons for joining, Danielle said: "There can be no disputing Smith Brothers' reputation in this complex industry, which sees the team providing multi-disciplined support for some of the most exciting and prestigious power projects in the country. "It is an exciting time to be part of the journey. Turnover, employee and customer numbers are at an all-time-high, with no sign of slowing. I think my sales, design and account management experience will help solidify this continued growth." With a largely field-based role, Danielle will visit Smith Brothers' new 10,000sqft headquarters in Elland, at least once a month. Her next major assignment will be the UK's leading environmental show – Edie Live – at the Birmingham NEC later this month. Danielle's appointment follows hot on the heels of Smith Brothers announcing the hire of finance director Richard King last month. The firm is also on the lookout for additional key staff, including experienced project managers, cable jointers and high voltage electrical engineers.
Posted by Scriba PR Limited
Apprentice makes steps to success with TH Electrical

Tuesday 16 May 2017

TH Electrical, an NICEIC approved electrical contractor based in Holmfirth, has always seen the importance in the Apprentice scheme and growing young talent. “Offering Apprenticeships is a great way of growing talent for the future as well as helping young people start their careers – and Apprentices for our sector of business is a cost effective, low risk way to bring in new resources and skills into the business" quoted the business owner, Thomas Hall. The company’s current Apprentice came via JTL and attends Kirklees College once a week. With on-site training, advice, guidance along with additional home studying, Dominic, has passed his exam - Understanding the principals and legislation of electrical systems. Thomas says ‘ We are proud of Dominic’s success to date. The day-to-day experience which comes with on the job training is invaluable and I encourage questions along the way. Many more exams to come but this is definitely a step forward in the right direction for Dominic, myself and TH Electrical.’ TH Electrical reap the benefits of the Apprentice scheme and on the back of this, it will lead to further success of the company and future growth.
Posted by TH Electrical
Brexit: what Article 50 means for small businesses

Friday 12 May 2017

On March 29th Theresa May formally triggered “Article 50”, which began the process of the UK leaving the European Union. The process is scheduled to conclude on March 29th 2019, when the UK will cease to be a member of the EU. Between now and then things will change, but many more things will remain. There is much in the letter which shows an intention from the UK to continue to have a good and special relationship with the EU as its closest friend and neighbour. There is also a clear statement of intent to work together to minimise disruption to the UK, the remaining EU member states and other countries around the world. “We want to make sure that Europe remains strong and prosperous and is capable of projecting its values, leading in the world, and defending itself from security threats. We want the United Kingdom, through a new deep and special partnership with a strong European Union, to play its full part in achieving these goals,” Prime Minister Theresa May In response the President of the European Council Donald Tusk has stated that a transition period would be necessary for business, strengthening the view that Brexit will be as smooth as possible without the feared ‘cliff-edge’. He has also pointed out that we will negotiate with the 27 member states as a bloc and not individually. On a slightly less positive note he has said that the talks will be complex, difficult and confrontational as well as pointing out that we must agree the terms of the split before we can start to work on deal for the future relationship between us. My final point is on the supposed threat from our PM that if we don’t reach agreement on trade then we won’t cooperate in the fight against crime and terrorism. I think that those who suggest this is a threat are out to make mischief. I am confident this is not what is meant, as she goes on to say that it is an outcome we must work hard to avoid. Economics is all about confidence, the last 9 months have shown that the UK public have confidence in this country’s future. As long as this confidence continues this country and our businesses will continue to thrive. We hope you will enjoy our series of updates on this subject over the coming months. Visit our opinion page for more Steadcross blogs and future articles on Brexit: http://steadcross.com/updates/ Ian Roberts LLB (Hons) Director Steadcross
Posted by Steadcross
TH Electrical support The Lullaby Trust at local Charity football tournament

Thursday 11 May 2017

This week has seen TH Electrical as the Match Ball sponsor for the local charity football tournament in aid of The Lullaby Trust at Huddersfield YMCA. Speaking of the donation, owner Thomas Hall quotes ‘I became aware of the charity organisation through a friend and client who sadly lost their one year old boy Dexter. The sponsorship was a fee but was for a worthy cause, the honour TH Electrical had in being involved was priceless. We believe we are a company that care and hopefully this has shown to the local and wider community’. TH Electrical are a local electrical contractor, who are NICEIC approved. A fairly new company in comparison, however coming into their fourth year of successful business. The highly regarded reputation has been built on customer recommendations and repeat business and pride themselves on being reliable, loyal and honest within the trade. For this reason, TH Electrical are proud to rave about the work and commitment they have within the community.
Posted by TH Electrical
18 results found, page 1 of 2.  

Events Posted

12 results found, page 1 of 2.  
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FREE Workplace Safety Training
Friday 30 June 2017, 15:00 - 16:00
Med One, 12, Westgate, Huddersfield, HD1 1NN
20 Credits - 4 places remaining
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Google Plus Mini Workshop
Tuesday 4 July 2017, 14:00 - 16:00
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£40 - 6 places
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Pinterest & Instagram Mini Workshop
Wednesday 5 July 2017, 10:00 - 12:00
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£40 - 6 places
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Content Creation and Blogging for Business
Wednesday 12 July 2017, 13:30 - 16:30
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£65 - 6 places
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Twitter for Business Workshop
Wednesday 12 July 2017, 09:30 - 12:30
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£65 - 6 places
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LinkedIn for Business Workshop
Thursday 20 July 2017, 09:30 - 12:30
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£65 - 6 places
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Facebook for Business Workshop
Thursday 3 August 2017, 09:30 - 12:30
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£65 - 6 places
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Facebook Advertising Workshop
Thursday 3 August 2017, 13:30 - 16:30
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£65 - 6 places
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Social Media Marketing and Branding
Wednesday 16 August 2017, 13:30 - 16:30
Bridge House, 2 Woodhead Road, Holmfirth, HD9 6PX
£65 - 6 places
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Content Creation and Blogging for Business
Wednesday 30 August 2017, 09:30 - 12:30
Creative Analysis Ltd And Social Progress Ltd, 2, Woodhead Road, Holmfirth, HD9 6PX
£65 - 6 places
12 results found, page 1 of 2.  
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