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Thread: Pricing

  1. #1
    Join Date
    Jul 2011
    Location
    Fresno, CA
    Posts
    6

    Default Pricing

    I am looking for some help from the professionals in the Qjoint. A friend who owns a sports bar has asked me to make my chili without beans for use in his restaurant. I have no idea what to charge or how to calculate prices. Any suggestions would be greatly appreciated....Thanks.....
    Mike Stanford

  2. #2
    Join Date
    Jan 2008
    Location
    Carthage, MO
    Posts
    10,055

    Default

    It all depends on what value you place on your time in getting ingredients, prepping, and cooking. Then delivery ... that is if you are doing this all away from his premises and he isn't supplying ingredients.

    One basic guide is to know the total cost of your ingredients (everything) and triple that cost out. Very basic but it's a start. He has to make some money and you have to feel right about charging what ever price you come up with.

    Let us know what you decide and how you came up with the final figure please.
    Plank Owner ..................
    I didn't fight my way to the top of the food chain to be a vegetarian!



  3. #3
    Join Date
    Oct 2008
    Location
    Oklahoma City, Oklahoma, United States
    Posts
    1,964

    Default



    Cost x3 is a good place to start!
    ~Mike~
    www.buttloversbbq.com
    Big Green Egg - Large
    Backwoods - Custom Party
    FEC 100

  4. #4
    Join Date
    Jan 2008
    Location
    Tulsa
    Posts
    4,976

    Default

    Cost x 3 is OK, depending on how much time you put into it and how much the total bill is.

    In otherwords, if the chili costs you $10 to make, and it takes oyu 5 hours to make it, then you would net only $10 for your 5 hours, or $4/hr.

    Don't worry so much about a fair price as what oyu worry about how much your time is worth.

    Make sure you know your entire cost of goods, then how much time the entire project will take, then take that amount of time x what you think is a fair wage for your time. Add that to the cost of goods and see if he is willing to pay what he has to to get you to do it. If you do it for less than that one time, he will most likely expect that from now on.

    Be prepared for the very real possibility that he can't afford you.

  5. #5
    Join Date
    Jan 2010
    Location
    Kentucky
    Posts
    1,530

    Default

    Quote Originally Posted by SmokyOkie View Post
    Cost x 3 is OK, depending on how much time you put into it and how much the total bill is.

    In otherwords, if the chili costs you $10 to make, and it takes oyu 5 hours to make it, then you would net only $10 for your 5 hours, or $4/hr.

    Don't worry so much about a fair price as what oyu worry about how much your time is worth.

    Make sure you know your entire cost of goods, then how much time the entire project will take, then take that amount of time x what you think is a fair wage for your time. Add that to the cost of goods and see if he is willing to pay what he has to to get you to do it. If you do it for less than that one time, he will most likely expect that from now on.

    Be prepared for the very real possibility that he can't afford you.

    Bing O - all the above is some good advice from the other posters as well.

    I will add the following things I have learned in the past bit on my catering are;

    In no order

    1. Ask the customers’ expectations

    2. Ask the customer what is their budget - this will help you make modifications to help fit their needs.

    3. Don’t second guess yourself on price meaning don’t think hay he is a friend and I need to cut the cost and end up doing it to cheap.

    4. be professional and remember business is business

    5. ALWAYS produce the best product you can at the lowest cost to you as you can without sacrificing your product. Remember your product is a direct reflection on you.

    6. be consistent in your product

    7. Always be on time

    8. Always calculate your cost on regular price at the store NOT a sale...this way you will not lose money when things are not on sale.


    With chili I would also find out his bowl size and how many ladles it takes to fill each bowl... Then find out how many bowls are in each batch of your chili you make.

    Proud member of a drinking club
    with a BBQ problem


    Large Egg
    Mini Egg
    Backwoods Competitor
    22.5 WSM
    Horizontal Smoker
    Gasser

  6. #6
    Join Date
    Jul 2011
    Location
    Fresno, CA
    Posts
    6

    Default

    Thanks to all for the excellent advice. I have a feeling SmokieOkie's prediction will be correct. Using the X 3 formula this stuff is expensive to make even for myself. The customer will probably decide he does not like my price. Thanks again to all at The QJoint.....Mike.....

  7. #7
    Join Date
    Jan 2008
    Location
    Tulsa
    Posts
    4,976

    Default

    Quote Originally Posted by Stanfom View Post
    Thanks to all for the excellent advice. I have a feeling SmokieOkie's prediction will be correct. Using the X 3 formula this stuff is expensive to make even for myself. The customer will probably decide he does not like my price. Thanks again to all at The QJoint.....Mike.....
    Just remember that x3 is only OK if you run the numbers and decide that there is enough profit to compensate you for your time. Oh, and don't forget to figure in fuel and seasoning cost, etc. That stuff can add up quick.

  8. #8
    Join Date
    Jul 2011
    Location
    Fresno, CA
    Posts
    6

    Default

    How do you determine what to charge as an hourly rate to cover your time????...Mike

  9. #9
    Join Date
    Jan 2008
    Posts
    1,519

    Default

    It would be illegal for you to cook the chili @ home and then serve it @ the bar anyways.
    His cook is that bad that they can't make chili?
    Rubbed, Smoked and Sauced BBQ Team sponsored by Barsleaks/Rislone
    Authorized Backwoods dealer.
    B.O.D. GLBBQA
    Pitmaster - Lockharts BBQ of Royal Oak
    Owner-Great Lakes BBQ Supply Co.

    I don't know what the actual temp is, but it cooks the way I want it to, so I don't guess it really matters.

  10. #10
    Join Date
    Jan 2008
    Location
    Tulsa
    Posts
    4,976

    Default

    Quote Originally Posted by Stanfom View Post
    How do you determine what to charge as an hourly rate to cover your time????...Mike
    That is as simple as asking yourself what your time is worth.

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