Michelle Castillo posted a new question on 8/27/2009
I have been open since june 2008, I service a lot of people going through kemo and radiation theropy as well as alopecia. I have all types of wigs but It's not enough there are so many new and improved products I really want be able to satisfy all the customers. what can I do to help me help them?
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Henry McCabe Responded on 8/27/2009
Michelle, If you are selling a lot of product without generating cash flow to grow by stocking more inventory your prices may be too low. Conduct a study of your competitors prices to see where you fit. If you are not in the top fourth quarter start raising your prices. Also if you have not studied and understood your variable and fixed cost structure do so. You may not be generating sufficient cash flow after deducting your variable costs in order to generate cash to grow. A SCORE counselor can help you with these issues in person to person counseling or by email. henry McCabe, SCORE Counselor
E T Responded on 9/30/2009
Before you go raising your prices, look at your expences, is there something you can cut back on. Also look at you suppliers and their fees. Make sure you get competitive bidds at least quarterly to ensure your getting a good/ fair price. Last, look at your compatitors, what are they charging, research your area costs and overall national costs.
