A customer asked just the other day about setting prices for our metal work. It’s difficult to apply a standard formula to what we do. I’m sure that’s the case with most small businesses.
Setting Prices
What’s interesting is that we came up with a pricing structure early in our business life based on advice from a tile setter friend. We worked with our accountant to develop a spreadsheet formula that we could plug a few numbers into to determine pricing. Amazingly, the results of each method were pretty close.
Cost of Goods
We look at the cost of the goods used in the creation of metal art and signs. You have steel, patinas, clear coat, and shop supplies that make up the lion’s share of hard costs.
Labor Costs
The actual labor is where it gets tricky. Each project is very different in the amount of design that is necessary. Each client is unique in how they approach the design process. Some people have a clear vision, while others look to us to create something they can react to. The more detail in a design, the more hours it takes to create it. More custom painting also takes longer to execute.
Satisfaction Guaranteed
The bottom line is that we always want our customers to be happy with the end result. If they aren’t happy with the finished product, they can return it for a refund. It’s that simple.
Cats add to a custom metal business sign!
Pricing is a relative thing. For some people, you will be overpriced. For others, you will be reasonable. And still others will say we don’t charge enough. We’re comfortable with how we price our metal work. The fact that we continue to be busy and have repeat customers would tend to confirm that.