Pricing Your Product or Service

There are different considerations when pricing a product vs. a service.

When selling a product, you will have to consider manufacturing costs, material costs, packaging costs and inventory costs, among others, when determining your price. Service providers may not need to include these factors in their pricing, but they do have other considerations. For instance, you will have to decide if you will calculate the price per project, per hour, per day or per person.

Excerpted from Starting a Home-based Business

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