How to Pick a Profile
Pricing profiles contains all the charges, markups, discounts, and other settings that are used as the variables for determine a bid’s pricing.
Fast Accurate Bids comes with a set of five built-in pricing profiles for everyone and 6 embroidery profiles,
Note: The embroidery profiles have quantity breaks for smaller orders, otherwise the same pricing structure.
The profile numbering system is based on the lowest number gives the lowest bid pricing.
The 5 built in standard profiles are named:
If you don't know which profile to use, 3 Middle Price Bid should be a profitable pricing structure.
To find the right profile for your business, open FAB and try to reproduce some of your winning bids.
Using your winning bid's:
Step through the profiles and look at the Item Calculated Price and see what prices it gives you.
Try this with different cost items, and different decorations, using different profiles. and mark down the profile or profiles that match your current pricing the closest.
The more winning bids you do this for, the better match for the profile.
Example of Pricing Profiles giving different customer pricing from the same project
Here is one example: $2.00 item, 36 shirts, printed one color, one side
1 Lowest Price Bid
2 Lower Price Bid
3 Middle Price Bid
4 Higher Price Bid.
5 Highest Price Bid
The only difference in these five bids is the profile used.
How to Match Your Current Pricing
Depending on your location (in a big city, small city, big town, out in the country), national region, local competition, costs, equipment, staffing, overhead, and all the other factors that make up you costs, overheads, and profit requirements the correct profile is "it depends."
Here is a "rule of thumb" by Steve Steiger:
If you get 100% of your bids, you are not charging enough, you are cheaper than anyone else and are probably leaving money on the table.
If you get less than 50% of your bids, you might be charging too much, UNLESS your shop is a full production, which means you might be able to charge more.
You should get between 65% and 85% of all your bids, that way you know you are not the cheapest, but still getting most of your bids.
Pricing and picking a profile determines if you are making any money apparel decorating.
The goal of business is to make money,
How much you charge will determine if you make money or not.
Which profile you pick determines how low or high the bids are.
Your business is unique, no other apparel decorator in the world has the exact shop, production capability, staff, costs, and every other factor.
We have supplied 5 basic profiles to choose from. All are editable so you can tune the profiles to match what YOU want to charge.