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Price your product or service effectively

You may be short-changing your business by charging too little or too much. Do some market research to determine a fair price for your product or service. Call similar businesses to learn about their pricing.

Your location and any special services you offer can add value, so keep that in mind when coming up with prices. A hair stylist or dry cleaners in an expensive or convenient neighborhood can charge higher fees. Look at the price range for your market to figure out your range. If you don't charge enough, potential customers might question the quality of your product or service. If you charge too much, potential customers might take their business somewhere else.

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The price is a big factor of course. You really have to make it sure that you will be getting the profit while giving the best quality products and services to the customers. - Mark Zokle