Custom Installation Services: Are My Prices Right?
How you set prices for your custom installation services can make or break your proposal. It is extremely challenging to find the sweet spot between too high and too low. It’s also very difficult to gain insight into how others set their rates. Pricing is right up there with politics and religion in terms of topics that are not easily addressed in casual company. Few competitors are willing to share their pricing strategy with you.
Fortunately, CEPro has launched its first-ever market research study dedicated to custom integrator pricing. Our 2015 study reveals average prices for design, programming, installation, project management and service, as well as policies for trip fees. Our study also provides insight into differences by geographic region and company size.
According to the 2015 study, if you want to charge the maximum for your design, installation, programming, project management and service/repair services, the ideal scenario is to be a 20-year-old-plus custom installation company based in New England with 26 to 50 employees serving a relatively small population base of fewer than 250,000 people.
So what if your business doesn’t meet these criteria? Not to worry. Our market research study delivers insights for businesses of all sizes. For example, you may be surprised to learn that the youngest companies (aged 1-3 years) don’t charge the lowest rates. Our study reveals exactly how much companies of various ages do charge for specific services.
For those who don’t happen to live in one of the most lucrative regions of the U.S., you can find out what your peers are charging as well as what types of “extras” are expected based on geography. For example, custom integrators in the South are less likely to charge an additional fee for travel or for multiple technicians on a call.
Our new study, “Custom Installation Services: Are My Prices Right?”, will help inform your pricing strategy so you can set labor rates correctly and close more deals.