Many small businesses are not making a profit today because they do not know the basic concepts of costing and pricing. The situation is most serious in the service business because each service performed has a different cost. Frequently, the service business must bid for jobs by making a price quotation in competition with similar businesses. Can you calculate your costs for your service and quote a price that is competitive and returns a profit?
This math-based Aid discusses costing and pricing of services to assure that each job earns a reasonable profit.