article thumbnail

How Can the Discipline of Pricing Drive Improvement for Business Services Firms?

SBI Growth

Business service firms can make significant gains if they have pricing discipline, unfortunately most do not. In fact, 30% of companies reduce pricing by 10-24%. This variance in pricing leads to poor sales behaviors, customers who expect discounts and most.

article thumbnail

10 Trends – Annual International Marketing Benchmark by PM Forum and Meridian West

Red Star Kim

Many firms across the sector are struggling to recruit at the required levels presenting capacity and potential service issues. Higher salary demands will put further pressure on profits/margins unless firms raise prices significantly (which some are doing). Professional and Business services employs over 4.9m

Marketing 130
article thumbnail

The Ultimate Guide to Pricing Strategies

Hubspot Sales

The best pricing strategy maximizes your profit and revenue. It’s also known as markup pricing since businesses who use this strategy “mark up” their products based on how much they’d like to profit. The shoes cost $25 to make, and you want to make a $25 profit on each sale. Services Pricing Strategy.

article thumbnail

The 39 Best Franchise Opportunities of 2018

Hubspot Sales

The UPS Store is the top-ranked franchise in the business services industry. Most Profitable Franchises. When you're evaluating a business investment, it's important to know if the opportunity is worth the money. The UPS Store. Franchise fee : $29,950. Initial investment : $177,955 to $402,595. Planet Fitness. Jazzercise.

article thumbnail

60 Stats to Know About Entrepreneurship in 2020

Hubspot Sales

74% of small business owners say healthcare costs is the top challenge for their business. Retail and business services are the most popular industries for small business owners, with 13% of small businesses falling into these categories. 78% of small business owners say their businesses are profitable.

article thumbnail

Your Customers Are Telling You to Reconsider Inside Sales

SBI Growth

Many companies investigated Inside Sales a few years ago and decided their product or service was too complicated or specialized to sell without an expensive direct sales force. However, your Customer is evolving faster than you are, and they are time starved. How much does your outside sales force add to your costs?

Sales 110
article thumbnail

This is How to Tell if You’re Ready for Strategic Planning

CSSP

A desire to grow your sales or profitability. Again, this should be a no-brainer, but in reality, some owners aren’t motivated by growth in sales or profits. While you can get great benefit from strategic planning if there is anything you want out of your business.