In Scotland, Third Sector organisations predominantly trade in services, rather than products and this creates challenges for many who do not apply an adequate costing system to their services.
If we do not know the full cost of our services how can we possibly set a price for them?
A robust costing system does not automatically bring in the desired income but it does let us know whether or not we are covering our costs; a fundamental business pre-requisite and one which over the years, has resulted in many businesses running into serious financial difficulties.
Keep calm, help is at hand
CEIS has worked with many organisations to help implement a simple method for costing services, based on practical experience gained by our business advisors over many years. Using ‘real-life’ issues we will equip you with the tools and knowledge you need to remain one step ahead and most importantly to keep in control of your organisation and its financial performance.
Pricing your services
Once you have control and are confident in assessing whether or not your services return a surplus, you can then look at pricing your services accordingly. There are many things that you need to take into account;
- staff holidays
- staff downtime
- product waste, etc.
Over the last 4 years CEIS has frequently encountered organisations that forget to reflect these costs; often resulting in organisations pricing their products at much lower levels than they should.
We have the expertise to equip organisations and individuals from different financial backgrounds with a much better understanding of how important it is to establish a costing system as a basis for pricing your services and be in a position to know the implications for your business and react accordingly.
Contact us for support
If you feel your business could benefit from greater understanding but lack the expertise to make it happen, why not contact us and we’ll do our best to help sustain and grow your business.
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