10 Nov 2020

Pricing for profit for Tourism Businesses

This webinar was delivered as part of Tourism NI’s new Tourism Enterprise Development (TED) Programme 2020-21. The NI TED Programme has been designed to help the tourism industry in Northern Ireland survive and recover from the unprecedented events of 2020.

This ‘How to develop pricing for profit’ webinar was designed to teach the different pricing strategies that can be used in small and medium sized businesses to set prices, with a view to maximising profit.

This session aimed to:

  • See how, using a practical pricing template, you can incorporate recovery of direct and indirect costs into your prices to help you achieve a consistent mark-up.
  • Hear how to develop practical pricing strategies for your business that reflect different scenarios and the need to understand the breakeven point for your new products and services.
  • Learn the importance of a good bookkeeping system to record, measure and report on your pricing and how to use this to review your gross and net profit margins regularly.
  • Find out how using a controlled approach to effective pricing can help you plan to grow your business in 2021 and beyond

Top Tips were also shared on how to develop a structured approach to pricing and how to embed good pricing practices in your business.

This webinar was delivered by Tony Haren, Director at Admor Business Solutions, and was open to small to medium sized tourism businesses within Northern Ireland.

If you missed this session, or wish to watch it again, you can view a recording of the webinar below.