I became a CBA in November 2017, so sort of bumbled my way through the pricing part of the QBN, I tried my hand a few times at using the Job Cost Form for my customers and was just hoping for the best from my strategy. This particular video has been in my Watch Later queue for some time, and I finally watched it tonight, as I am pricing up another job, but really wanted more insight in to what I was doing and why. I must say, that this is the best business video by far, that I have watched to date, which specifically focuses on pricing up work, as I was able to marry up the QBN DVD's with my business in the my world and now have this video as stripped back version of the DVD and broken down perfectly for my to digest. I am my business will be so much better for learning this information now. I will certainly price with more confidence and learn to love it! Thank you Mark, Greg and Balloon Market! You guys never fail to really help me on my Balloon Moon business journey. : )
Hi Balloon Moon! Thank you for your kind words! We are really proud of this show, we hope it can help people grow their business and just give them the confidence to charge correctly. Glad you liked the show!
Balloon Market 😊 Following this my challenge moved on to correctly pricing my customised Deco Bubbles, which I do a lot of. I included labour as it does take some time to design and then apply the detail to the bubble. This rockted the selling price to around £45.00 each, where I've been charging £20.00. They will not sell for that... maybe £25 or £30 at a push and increase to £35.00 after a year. Yes, the lesson here is to look at my target market and refocus or add perceived value to help customers justify the cost in their mind... but the differnce in cost is so vast, it feels like quite a stretch. Any tips on pricing personal/customised designs?
Just sat having my crumpets and tea for brekkie watching this and taking notes! Brilliant video, very helpful. I gave up my part time job last month to concentrate on my Balloon business full time and this video is going to invaluable in making sure I make a profit and am able to pay myself. Thank you so much Greg and Mark 😀
Some excellent advice. Pricing is covered in the QBN course but with Greg asking additional questions I think has to be the most invaluable tool for decorators.
Thanks Lee. It is something that, if done properly, really does make a difference. We get asked at least a few times a week 'What should I charge for....'. Hopefully this will help.
I'm so guilty of alot of things mentioned in this video, really helpful thank you for sharing, the way I price I'm always in loss because fear of over charging, this video was definitely helpful!
As to the "Don't try to attract every customer" rule, that reminded me of my friend who used to say "You can't catch all the fish in the sea". Thank you for the very useful information and a nice video you've made. "Footballers' wives" phrase made me smile - same thing in Russia, like elsewhere in the world!
Hi Svetlana, Yes, we feel it’s much better to spend your efforts targeting a particular customer than trying to get everyone to buy from you. And that customer could be footballers’ wives! Glad you liked the show and we hope it’s helpful!
I think nowadays people like to pay for the name as much as for the product itself. The name of the company - the time and efforts it has put into establishing itself on the market is definitely something to charge for. Love from Russia, Svetlana.
I agree. I think people are more confident about buying from a name they recognise. A lot the time they just don’t want to think about the decorations and want to leave it to a professional they can trust.
As new in this business , making anything makes much more time then someone who has done it for alms time. As charging them your time I struggle with because it’s not their fault that it takes you a day to do what some can do in few hours 😅
This was super helpful as I have just started my business and I have struggle with pricing and this video help me to thing about pricing in a different way. I tried to download your job costing spreadsheet from your website, however, I am receiving an error message. Is it possible to have that spreadsheet emailed to me? Thank you once again for sharing this super useful content.
Glad it was helpful! We are currently migrating our website to an updated platform so that maybe why it isn't here. If you want to drop us an email at infor@balloonmarket we will happily pop it over to you.
I'm afraid this is going to be a silly question. Is 25p 25 pounds? I'm from the US so please forgive me if this is a silly question. Thank you so, so VERY much. This tutorial is more than helpful...it is a changer in the industry!
Hi Tanya, glad you liked the tutorial! It’s something we got asked for a lot and we hope it’s useful to people wherever they are in the world. 25p is 25 pence, so 100 pence in a pound. It’s not a silly question at all, hopefully everything else makes sense if you just change the currency! Let us know if you have any other questions.
Hi, this has been super helpful, I'm just starting out. Have you got any advice on vinyl printing prices? I'm starting the personalisation on bubble balloons but don't know how to cost this. Thanks
Hi sorry I’m a very new business , this may sound silly but are you adding up direct cost at wholesale price then adding vat or are you doubling the price and adding vat ? Thank you
Hi Abbie. If you are VAT registered, you can claim back any VAT you pay on anything you buy for your businerss. You also have to charge VAT and pay what you collect from your customers minus what you claim back, to HMRC. If you are just starting out then you will use VAT inclusive prices in your workings, assuming you have chosen not to register for VAT yet. The costs are whatever it costs you. So if you pay £15 for something at your wholesaler for the job including VAT, then that is what you would put in the tool. Does that help?
Thank you so much for these videos, I always learn something new everytime that I watch them. Quick question please, as a balloon decorator what's the best way of advertising your business to customers who value your work and time and are willing to pay well for the service?
Glad you like them - thanks for saying so! :) As a Decorator, it really does depend on your market. Some people use flyers, some use Facebook advertising, some use wedding fairs etc. but the reality is probably a combination of marketing methods. Make sure you test and measure whatever you do. I'd start with Facebook advertising and commit to spending a few hundred pounds / dollars to try it out. I hope this helps.
Hi Duncan As the bubbles are stretchy, their gas capacity can change depending on how much you inflate them. Qualatex say that for a T-size cylinder (3.6m3) you can get between 90 - 130 22” bubbles and 85 - 105 24” bubbles. The gas capacity can also change depending on what you put in the balloons, but this should give you a guideline. Hope this helps!
I feel so stupid. I thought I had this all figured out and was excited. Then I went to the Balloon Market Interactive Sheet and got confused. I'm so sorry to bother ya'll. If I am understanding it correctly...the Direct cost includes the labor and then you divide it by 35%...right? Then...what about the other 20% for profit. I know, I know, I am a few french fries short of a happy meal, but I so want to understand this. Ya'll are so amazing. I know I'm making it harder than it really is. Thanks so much for all of your help
Hi Tanya. No problem! You are on the right lines. The direct costs are the cost of materials and your time. The direct costs will make up 45% of the total overall selling price of your design. As an example, if your direct costs are $0.45 then your total selling price will be $1.00. With this example, $0.35 will cover your overheads (cost of running your business) and $0.20 is added in there to make a profit. To work out the overall selling price, you can divide your direct costs by 45%. So $0.45 / 45% = $1.00. This $1.00 will still cover your profit and overheads. Hope this makes sense! Let us know if not. :)
Ok. Got it. I had figured it up that way but I thought I was wrong. lol. Knew I was making it harder than it really was. Thank you so very much. Ya'll are such a blessing!
Hi Jacqueline. Not that I can give you I'm afraid. Best thing is maybe to call Qualatex. I'll drop him an email and let him know you want to get in touch but he is off for a couple of weeks at the moment.
Really good advice. I’m just starting up with my business partner. Thank you for all of the information. Some of which I didn’t consider. Verene Langdon.
Great information, very helpfull. sometimes its difficult to price articles. When you make a balloon bouquet with 3 balloons, and balloon weight you can charge a certain amount, when you make a bouquet with 5 balloons, or 7 for example, the time is roughly the same, but you can charge al little more. sometimes it's a bit tricky, with balloons in diferent shapes and sizes in latex and foil. i think we all sometimes struggle with pricing, so very helpfull video. keep up the good work! although i would'nt mind two better looking female colleagues instead of these two guys....;-)
I love this video , the more I watch it the more confidence I get . 😅😅😅
Brilliant! This video has solid gold advice for any business, not just balloons. One of the best on youtube. Thanks so much for this!!
Thank you for that. Glad you liked the show :)
I became a CBA in November 2017, so sort of bumbled my way through the pricing part of the QBN, I tried my hand a few times at using the Job Cost Form for my customers and was just hoping for the best from my strategy.
This particular video has been in my Watch Later queue for some time, and I finally watched it tonight, as I am pricing up another job, but really wanted more insight in to what I was doing and why.
I must say, that this is the best business video by far, that I have watched to date, which specifically focuses on pricing up work, as I was able to marry up the QBN DVD's with my business in the my world and now have this video as stripped back version of the DVD and broken down perfectly for my to digest.
I am my business will be so much better for learning this information now.
I will certainly price with more confidence and learn to love it!
Thank you Mark, Greg and Balloon Market! You guys never fail to really help me on my Balloon Moon business journey.
: )
Hi Balloon Moon! Thank you for your kind words!
We are really proud of this show, we hope it can help people grow their business and just give them the confidence to charge correctly.
Glad you liked the show!
Balloon Market 😊 Following this my challenge moved on to correctly pricing my customised Deco Bubbles, which I do a lot of. I included labour as it does take some time to design and then apply the detail to the bubble. This rockted the selling price to around £45.00 each, where I've been charging £20.00. They will not sell for that... maybe £25 or £30 at a push and increase to £35.00 after a year.
Yes, the lesson here is to look at my target market and refocus or add perceived value to help customers justify the cost in their mind... but the differnce in cost is so vast, it feels like quite a stretch.
Any tips on pricing personal/customised designs?
Just sat having my crumpets and tea for brekkie watching this and taking notes! Brilliant video, very helpful. I gave up my part time job last month to concentrate on my Balloon business full time and this video is going to invaluable in making sure I make a profit and am able to pay myself. Thank you so much Greg and Mark 😀
Brilliant! Glad we could help Jess and I wish you all the success with your business!
Some excellent advice. Pricing is covered in the QBN course but with Greg asking additional questions I think has to be the most invaluable tool for decorators.
Thanks Lee. It is something that, if done properly, really does make a difference. We get asked at least a few times a week 'What should I charge for....'. Hopefully this will help.
I'm so guilty of alot of things mentioned in this video, really helpful thank you for sharing, the way I price I'm always in loss because fear of over charging, this video was definitely helpful!
Brilliant! Thanks so much - I've been waiting for this!!!!! As a new business I've been anxious about prices and this has given me confidence 😊
Fantastic to hear Martine! And good luck with your business!!
As to the "Don't try to attract every customer" rule, that reminded me of my friend who used to say "You can't catch all the fish in the sea". Thank you for the very useful information and a nice video you've made.
"Footballers' wives" phrase made me smile - same thing in Russia, like elsewhere in the world!
Hi Svetlana,
Yes, we feel it’s much better to spend your efforts targeting a particular customer than trying to get everyone to buy from you. And that customer could be footballers’ wives!
Glad you liked the show and we hope it’s helpful!
Thank you Greg and mark some great advice
Thank you so much for this video!
great advice. on a side note can we see that clown behind looks fab
I think nowadays people like to pay for the name as much as for the product itself. The name of the company - the time and efforts it has put into establishing itself on the market is definitely something to charge for. Love from Russia, Svetlana.
I agree. I think people are more confident about buying from a name they recognise. A lot the time they just don’t want to think about the decorations and want to leave it to a professional they can trust.
This has been such a helpful video as most of the videos.
Fantastic, so pleased to hear that.
As new in this business , making anything makes much more time then someone who has done it for alms time. As charging them your time I struggle with because it’s not their fault that it takes you a day to do what some can do in few hours 😅
That's an important video for Balloon Artists world wide. LOVE IT
Thanks Zivi! Glad you liked it!
Just starting out. Great advice! Thank you.
This is such an informative video! Thank you
Thanks looking forward to this business
Very helpful video. Thanks for posting
Great advice... thank you!!
Excellent 👌 thanks so much guys for your videos, really great helpful information there 👍
Thanks you very much for this. Much appreciation 👍🏾
Great advice. Thanks for posting.
This was great very helpful information and easy to understand.
Thank you so much 😃. I'm just starting in the business and this has been greatly helpful. Greetings from USA
Glad we could help Sephora!
Very helpful.
This was so helpful. Thank you!
Glad we could help Twana!
This was super helpful as I have just started my business and I have struggle with pricing and this video help me to thing about pricing in a different way. I tried to download your job costing spreadsheet from your website, however, I am receiving an error message. Is it possible to have that spreadsheet emailed to me? Thank you once again for sharing this super useful content.
Glad it was helpful! We are currently migrating our website to an updated platform so that maybe why it isn't here. If you want to drop us an email at infor@balloonmarket we will happily pop it over to you.
Thank you, good information
I get how to calculate the helium, but how did you calculate the inflation price?
I'm afraid this is going to be a silly question. Is 25p 25 pounds? I'm from the US so please forgive me if this is a silly question. Thank you so, so VERY much. This tutorial is more than helpful...it is a changer in the industry!
Hi Tanya, glad you liked the tutorial! It’s something we got asked for a lot and we hope it’s useful to people wherever they are in the world.
25p is 25 pence, so 100 pence in a pound.
It’s not a silly question at all, hopefully everything else makes sense if you just change the currency! Let us know if you have any other questions.
Merci pour les bons conseils
Thank you for this!
Hi, this has been super helpful, I'm just starting out. Have you got any advice on vinyl printing prices? I'm starting the personalisation on bubble balloons but don't know how to cost this. Thanks
We would recommend checking out the Interactive Pricing Tool and also have a look around at what some other companies are charging :)
should really have this video in your balloon basics Greg :)
Yes, good idea!
Ganhou uma inscrita vcs são de mais
obrigado!
How do you get the Qualatex catalogue
You can download the catalogues from here - www.balloonmarket.co.uk/manufacturer-resources-qualatex
Hi sorry I’m a very new business , this may sound silly but are you adding up direct cost at wholesale price then adding vat or are you doubling the price and adding vat ?
Thank you
Hi Abbie. If you are VAT registered, you can claim back any VAT you pay on anything you buy for your businerss. You also have to charge VAT and pay what you collect from your customers minus what you claim back, to HMRC. If you are just starting out then you will use VAT inclusive prices in your workings, assuming you have chosen not to register for VAT yet. The costs are whatever it costs you. So if you pay £15 for something at your wholesaler for the job including VAT, then that is what you would put in the tool. Does that help?
Thank you so much for these videos, I always learn something new everytime that I watch them. Quick question please, as a balloon decorator what's the best way of advertising your business to customers who value your work and time and are willing to pay well for the service?
Glad you like them - thanks for saying so! :) As a Decorator, it really does depend on your market. Some people use flyers, some use Facebook advertising, some use wedding fairs etc. but the reality is probably a combination of marketing methods. Make sure you test and measure whatever you do. I'd start with Facebook advertising and commit to spending a few hundred pounds / dollars to try it out. I hope this helps.
Balloon Market thank you so much
hi, does anyone know how much helium the printed bubbles need?
Hi Duncan
As the bubbles are stretchy, their gas capacity can change depending on how much you inflate them. Qualatex say that for a T-size cylinder (3.6m3) you can get between 90 - 130 22” bubbles and 85 - 105 24” bubbles. The gas capacity can also change depending on what you put in the balloons, but this should give you a guideline.
Hope this helps!
What about pricing delivery if you offer that?
Hi there! You can incorporate the petrol/time taken for delivery into the pricing tool to help you work out the overall price :)
Hi there what size is the big too foil balloon please ?
Sorry Abbie, which balloon do you mean please?
@@BalloonMarket the first one that he calculates the price for . The big top foil. Thank you
@@abbiehorsman1548 Oh I'm afraid it has been discontinued so I'm not too sure - it was probably around 28" - 32".
I feel so stupid. I thought I had this all figured out and was excited. Then I went to the Balloon Market Interactive Sheet and got confused. I'm so sorry to bother ya'll. If I am understanding it correctly...the Direct cost includes the labor and then you divide it by 35%...right? Then...what about the other 20% for profit. I know, I know, I am a few french fries short of a happy meal, but I so want to understand this. Ya'll are so amazing. I know I'm making it harder than it really is. Thanks so much for all of your help
Hi Tanya. No problem! You are on the right lines.
The direct costs are the cost of materials and your time. The direct costs will make up 45% of the total overall selling price of your design. As an example, if your direct costs are $0.45 then your total selling price will be $1.00.
With this example, $0.35 will cover your overheads (cost of running your business) and $0.20 is added in there to make a profit.
To work out the overall selling price, you can divide your direct costs by 45%.
So $0.45 / 45% = $1.00.
This $1.00 will still cover your profit and overheads.
Hope this makes sense! Let us know if not. :)
Ok. Got it. I had figured it up that way but I thought I was wrong. lol. Knew I was making it harder than it really was. Thank you so very much. Ya'll are such a blessing!
No problem Tanya!
THANK YOU!!! SUPER HELPFUL!!!
HI Greg, is there an email that Mark can be reached?
Hi Jacqueline. Not that I can give you I'm afraid. Best thing is maybe to call Qualatex. I'll drop him an email and let him know you want to get in touch but he is off for a couple of weeks at the moment.
Really good advice. I’m just starting up with my business partner. Thank you for all of the information. Some of which I didn’t consider.
Verene Langdon.
Thanks Verene! Glad we could help!
Great information, very helpfull. sometimes its difficult to price articles. When you make a balloon bouquet with 3 balloons, and balloon weight you can charge a certain amount, when you make a bouquet with 5 balloons, or 7 for example, the time is roughly the same, but you can charge al little more. sometimes it's a bit tricky, with balloons in diferent shapes and sizes in latex and foil. i think we all sometimes struggle with pricing, so very helpfull video. keep up the good work! although i would'nt mind two better looking female colleagues instead of these two guys....;-)
Thanks Jerry. Glad it was helpful. Although I'm ever so slightly offended - I thought we looked good :)
Please in spanish