The windows industry has been one of the most active industries that has been present for the last 50 years. This is due to the construction business that has been booming and that requires windows installment, regardless of the type of building.
One of the most successful windows companies,wandsworth sash windows, agreed to share with use some of the useful tips for starting a business. We present you the tips that turned out to be highly successful. If you plan to start your business, do follow these tips.
Research the competitors’ prices
The first step is to check the competitors to determine your starting price. Do not fall for the temptation to examine the prices from your competitors and set your prices a bit lower. This is not good neither for you nor them, but in any case, it is more likely that they will have more work than you.
Instead, your ideal prices should come from the established pricing model that should serve as the foundation. Then, you can define the price range for each item/job. This will not only prevent unnecessary “War” between you and your competitors but will also enable you to grow easier.
Consider the different prices for different volumes
The volume pricing is something that can help you to attract more customers and develop your business easier. The main principle of the volume-pricing is to give a discount on the larger orders, as the quantity can cover your discount.
If you have an order of 20,000 windows for a company, you should sell these at a bit cheaper price as you will be able to achieve profit. Also, you can present your regular customers a time-fixed discount to ensure that you achieve long-term cooperation. The time-fixed discounts are always interesting as the customers have a limited time to buy a product that is normally more expensive.
Use promotions to attract more customers
Even though you have to have fixed prices, sometimes is a great way to improve your business to offer promotions. Have you noticed that all new companies that are just entering the market always offer promotions to attract new customers?
The same thing you can do as well. This is especially useful when you introduce a new product in your offer. People will be interested if they follow your work or have a cooperation with you and it is likely that they will buy a product just because it is offered at the discounted price. The promotions are a great way to attract new clients and use them whenever you introduce the new product.
Use the costs to define the price
When you define the final price of the product, you have to take into consideration the cost of material, work and the margin that brings you profit. Once you consider all of these, you can come up with the price. Additionally, you can present some products as premium quality ones to achieve more recognition for your company. This will also help you to brand your company and make it distinguished!