EducationTips

Pricing Your Laser Services and Paying Yourself Fairly

You may not be able to pay yourself a salary now, but it should be considered in your pricing

Determining a fair salary to use in calculating pricing when you start a business is challenging. You may be able to find out the wage paid to a local laser operator or similar job such as a machine operator at a shop or factory near you. This is a good starting point.

If you are the lone worker in your business, have a partner, or hire one or two people, you also want to assign them wages based on their responsibilities. The other duties a small business owner has include marketing, sales, and accounting, at minimum. If you are the only worker, consider that your salary needs to cover all these responsibilities, including production.

You may not be able to pay yourself a salary now, or at least not at this calculated rate; however, it should be considered in your pricing. You now have an expectation and goal to shoot for.

Find more on pricing complexities here.

a&e

Bob Hagel

Bob Hagel and his wife Dana offered a full line of personalized products using laser engraving, sandcarving, and full-color UV direct print on products for nearly 20 years. The pair sold their 17-year-business Eagle’s Mark Awards & Signs in September 2020. Bob remains an expert in the awards, recognition, and signage industries while he enjoys retirement.

Related Articles

Back to top button