Pricing Principles

 
  From the November 27, 2017 Issue of Agri-News
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 The Pricing Principles: Moving to Retail workshop takes place on January 18, 2018, at the Agriculture Centre in Airdrie, and again on January 30, 2018, at the Grande Prairie Provincial Building.

“Many entrepreneurs who sell their products at a farmers’ market or other direct-to-customer channels worry about selling their products at a price that covers their costs and provides a reasonable profit,” says Elaine Stenbraaten, new venture specialist, Alberta Agriculture and Forestry (AF). “If selling your products at retail is in your future there’s even more to consider - how do you price your product to provide sufficient margin to pay yourself and your distributor or wholesaler, and keep it competitive in the market?”

AF’s Jan Warren and Elaine Stenbraaten will walk workshop participants through the fundamentals of pricing products with profitability in mind. “We’ll cover the essential roles that costs and value play in setting your price, as well as discuss how to determine your breakeven point, identify costs, net profit and ways to calculate margin. You’ll leave the session with worksheets and the understanding to start capturing your production and marketing costs and calculate your breakeven point and essential ratios associated with your products and business.”

Setting a profitable price is always a key component of success and is especially so when a business moves forward into retail. “You must have a clear understanding of your costs, an established rate for your own labour and know what is required in order to have an agent sell your product,” says Stenbraaten. “Even if you don’t choose to sell your products to a retailer now, it’s important to plan ahead so you’re ready when the time is right.”

The workshop runs from 9 a.m. until 3:30 p.m. with registration at 8:30 a.m. The cost is $25 per person and includes snacks, lunch and GST. To register call the Ag-Info Centre at 1-800-387-6030. For more information about the workshop contact Elaine Stenbraaten at 780-835-7531 or Jan Warren at 403-381-5844.

Contact:
Elaine Stenbraaten
780-835-7531

 
 
 
 
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For more information about the content of this document, contact Ken Blackley.
This information published to the web on November 9, 2017.