Price means how much you will charge your customers for your goods or services. A successful business is one that sells something customers need or want at a price they are willing to pay while ensuring that this price is higher than your costs to provide the product.

To set your prices you have to:

⊕ Know how much your potential customers are willing to pay

⊕ Know your competitor’s prices

⊕ Know your costs

This next session of the training will demonstrate how to calculate whether your business will make a profit or a loss. The group will work through different activities to estimate a competitive price, predict monthly sales and production, and break down the different business costs.

You can download the session pdf file here.

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