Pricing Market Research and Model

I’m getting stuck on trying to create a pricing model. Is there anyone out there in a similar market to Denver that would let me pick their brain on the best way to figure all this out?

Yes, probably 100s of inspectors. Call, or have someone else call, around to your competition and set your pricing structure a little above middle to start.

Oh, and by the way, welcome to our forum for your first time, Jesse! Enjoy and come back. :smile:

You need to first determine your true cost of doing business (including ALL expenses and wages) then adding in what you want for net profit.

I guarantee you that most inspectors do not calculate true costs and use that as their basis for charged fees.

Anyone that prices themselves by their competitors fees will likely find themselves struggling and/or out of business when their savings accounts run dry!!

Well, help him out JJ.

Thanks for the welcome and responses Larry and JJ. I think my biggest question is how much to add for the age and what the base or standard is. I know it varies for all areas, but hoping to tie down at least a few variables /yr or /sf.

You’re welcome, Jesse.

And you can get those more accurate numbers locally as I suggested in my other post. :smile:

Only he himself and a qualified accountant or experienced financials person can help him with that determination. AFTER he has those true numbers, THEN he can adjust what fee he charges for his service area market. You want to know why so many HI’s fail in less than three years? Zero business experience/acumen!!

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I guess we got smart early…I know I started saving real early and bought my first house at 18 with 3 roommates to rent the bedrooms while I took up residence in the attic…older house, sealed batt insulation and I cut a 4’ x 4’ window in the gable for ambiance, while they paid the contract. :smile:

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You’re a survivor! Today, that would be considered human life endangerment :face_with_head_bandage:

Yes I am. Cancer…beat it. Shingles, 1 year later almost have total feeling back from my fake knee to my rt. toes. Two heart stents. And our daughter died unexpectedly of diabetic ketosis.several months ago…still working on that one but I’ll see her again. Now we have 2 grand-daughters to get on their feet…one day at a time.

Thanks, Simon. It helps me to get it out and I come to our forum to help so I don’t feel so down and to relax.

:cowboy_hat_face: :sunglasses: :face_with_monocle: :thinking: :pray:

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