|Posted on June 21, 2011 at 7:51 AM|
When you are making home party plans it is important to know how to price the different products in your inventory for sale. The things that can help you with this decision include the cost of supplies, time, overhead expenses, and making a profit.
Breaking even is not what you want to do when you make home party plans. You have to make a profit or there is no point in having the party unless you are just looking to meet new people and make new friends. The point of being a consultant is that you want to make a supplemental income or a full time income. You can make a lot of money with home party sales but you have to strategically price your products properly.
One thing to keep in mind is that when you price your products you do not want to price them too high. This would be insulting to the guests if the prices are unreasonably high. You wan to give a good deal. The better deal you give to the guests the more of the products they may purchase from you. One thing you can do is offer a set price on the first purchase and a minor discount when they purchase a second or third item. This gives the customers an incentive to purchase more than just one. Then you can make a profit on more than just one product.
When you price home party plans you need to consider any supplies you needed to purchase for the party. If you are holding a party like a craft party then you may want to charge a cover fee to get into the party. This will help absorb the costs of the party. You also want to make money for your time spent during the party. Think about how much your time is worth to you and make sure you are paid for that. Also, if you had to do running around then you had to use gas in your car. All expenses should be considered when you price your products.
Obviously, if your home party doesn't bring any sales then you will not make a profit. However, all you will be out is a few dollars of the expenses for the party and a few hours of your time. Home party sales usually give you an amazing revenue capability so you can make up your expenses quickly with just a couple of sales. Always price your products comparably so no one questions your credibility or your honesty. Another thing to keep in mind is that you should never tell anyone what your prices of the products are. You may have friends expect you to get them rock bottom deals and then you will never make a profit.
When making home party sales it is important to determine proper prices of the items you are going to present to the guests for sale. The point is to make a profit. Never price the items too high but make sure that you are at least making a profit.
For home party plans and tips on increasing sales, visit http://www.craft-selling-parties.com for great advice on making money from home in your own home party business.
Article written by Dee Schrock
Categories: Home Party Plan Companies