You may want to grab a piece of paper and a pen for this because you’re going to need to calculate the day-to-day costs of what it takes to run your business.
Activity: Take into consideration things such as your equipment, salaries, gas and electricity, rent for premises and any other overheads you may have on a monthly basis. Write them down along with how much each individual item costs. Once you’ve done this, total them up to see how much you’ll have to spend each month to keep your business in operation.
Now you have an idea of how much you need to make to cover your outgoings each month, add onto this how much profit you’d like to be making. You can now use this desired monthly income to help you price your services in a way that will help you to achieve this target.