Open a pricing consultancy and earn a good and growing income.
Pricing is in demand as there are always businesses and individuals that undertake jobs for the first time. Here there is an opportunity for you to offer this service to them.
Once your office develops a reputation as a pricing consultancy you will get lots of jobs. And delivering the service is very easy once you know what is required and where to obtain it.
Your clients would be businesses or individuals that tender for services or supplies. These people have never done the jobs before and are thus not sure how to quote. You would then assist them by pricing for their jobs/projects.
What you need when approached for this service are the specifications of the orders. The specifications guide you as to what is needed and how. You would then take the specifications to various suppliers and service providers like builders, plumbers, etc, and get their quotes. After that you add them to get the total cost.
You should, of course, compare quotes to get a favorable cost. However, you should not sacrifice quality for price.
Once you have all the costs according to specifications, your next step is to calculate concomitant expenses. These would include transport, travelling, telephone, printing, accommodation, and so on.
After you have worked all costs you must workout a reasonable mark-up. The mark-up should be reasonable. That means it should give the supplier of the service a good profit. Yet at the same time you should not forget that your client is bidding and quotes are going to be compared in the tendering process. So be reasonable in your mark-ups.
Lastly, do not be lazy as this type of work involves a lot of “footwork” and phoning around. This service is very important to the success of your clients. Help them to succeed!
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