🎧Join Xavier Kelly and Eduardo Sauceda as they dive into the intricate world of pricing items in the rental business. In this enlightening discussion, they share valuable insights, strategies, and best practices for setting competitive yet profitable prices for rental items. Gain a deeper understanding of pricing dynamics, market trends, and customer value perception to optimize your pricing strategy and drive business success. Whether you're a seasoned professional or new to the industry, this discussion provides crucial advice for optimizing earnings and preserving market share in the rental business.🎧
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The hosts have 5 years of experience running an event rental company. Their company, Kelly Rentals, makes more than $2.25 million a year as of 2023. Located in DFW, Texas, they’ve helped more than 20 other event rental companies across the country.
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00:00 Introduction - Why you should watch to the end
00:32 Competitive pricing
01:02 Our process on checking prices
02:34 How price affects other markets
03:13 How The Ultimate Checklist can help your business
04:05 Percentage payback
4:30 How it works?
06:51 What is life span pricing?
07:33 How to compute for life span pricing
08:33 Items that easily gets damage
09:42 Importance of having a contract
10:23 Let US help you run your Ads!
10:53 Service based items
12:23 Determine what your service cost is
14:18 Value-based pricing
15:05 Factors to consider when establishing pricing
18:26 Go LLC with ZenBusiness - your business, simplified.
18:47 Mixed pricing approach
20:24 Our personal preferences in pricing methods
20:40 The Rental Rundown