It’s common for good food business owners to calculate their perfect product price, only to find that it’s higher than they think they can, or should, sell it for. (So many emotions!)
Doubts often follow as to whether or not you can successfully sell your product at a premium price, or whether the right move is to lower costs so you can sell at a lower price point.
To help coach you through this decision making process, I spoke with CPG Consultant and founder of Retail Ready, Alli Ball to discuss the steps to making this important decision, and how you CAN build a successful food business with a “high priced” product.
You can listen to our conversation here, where Alli shares:
Why looking to your target market is key to landing on
the right price for your product
5 Key Brand Questions to gain clarity on pricing decisions
The freeing truth that Everyone is not your target audience
If you decide that lowering your costs is the right move for your business.
You’ll definitely want to tune in to this video, where I share Strategies for Lowering Your Costs WITHOUT Compromising Your Standards or Quality.
As always, I’m here to support you as you work through the math and the decision making process.
Join other food business owners doing this work in the free community.
About the Author: Sarah Delevan is a Food Business Financial Coach and Consultant with over 7 years of working in the food industry. She received her MBA from Rollins College and In 2017 she founded Sarah Delevan Consulting based in Los Angeles, CA and serving clients across the United States. She is the creator of the Financial Success Formula and the founder of the Profitable Food Business program. To learn more about Sarah and opportunities to grow a more profitable food business Click Here.