Why Charging a Flat Fee Can FlatLine Your Home Staging Business
Why Charging a Flat Fee Can FlatLine Your Home Staging Business
Even if you’re the best home stager in your city, if you charge a flat rate for your services, you could end up broke faster than you think. In fact, you could be setting yourself up to “flat-line” a business that could otherwise be extremely profitable.
Charging by the square foot or setting a flat rate per room is a common mistake that has ended more than one home stager’s career. Why? No two spaces are ever the same. It could take more time for you to stage a 900-square-foot condo than a 3,000-square-foot detached home. Why should you charge the same rate for both?
When you’re elbow deep in a project and realize it will take hours more to complete than you originally estimated it’s too late. By charging a flat rate instead of by the hour, you will have successfully undercut yourself!
There are several scenarios you’re likely to find yourself in if you do any amount of home staging at all. In these classic time-sucking situations, your flat rate couldn’t possibly compensate for the amount of time that’s wasted:
• Your home staging client has to tell you the entire background of each piece of furniture or art work in their home and why they love them all.
• Your staging consultation is interrupted dozens of times by a client that’s constantly taking phone calls or breaking up fights between screaming children.
• You find yourself elbow-deep in a project only to learn that the client has changed their mind about using your services.
• You end up in the midst of heaps of clutter that would rival an Oprah ‘hoarder’ episode, spending hours to go through your clients’ beloved items.
If you have the proper hourly pricing strategy in place, none of these time-suckers will matter. In fact, if clients like these are eating up your time, you’re making more money by charging hourly. However, if you charge by the square foot or by the room you will find yourself working for nothing much of the time. I’m sure you didn’t go into business for yourself to lose money.
If you don’t charge by the hour for your home staging services, you really need to reconsider your pricing strategy before you burnout from all the extra work you must do to make ends meet or your business flat-lines.
Why Charging a Flat Fee Can FlatLine Your Home Staging Business - To learn more about this author, visit Staging Diva's Website.
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The pricing structure (and items you charge for) you set up for your home staging services can either make or break your business. Good for you to follow your heart and get into a career you enjoy, but if you’re doing something you love and not making money, it’s not a business – it’s a hobby.
Even if you’re the best home stager in your city, if you charge a flat rate for your services, you could end up broke faster than you think. In fact, you could be setting yourself up to “flat-line” a business that could otherwise be extremely profitable.
Charging by the square foot or setting a flat rate per room is a common mistake that has ended more than one home stager’s career. Why? No two spaces are ever the same. It could take more time for you to stage a 900-square-foot condo than a 3,000-square-foot detached home. Why should you charge the same rate for both?
When you’re elbow deep in a project and realize it will take hours more to complete than you originally estimated it’s too late. By charging a flat rate instead of by the hour, you will have successfully undercut yourself!
There are several scenarios you’re likely to find yourself in if you do any amount of home staging at all. In these classic time-sucking situations, your flat rate couldn’t possibly compensate for the amount of time that’s wasted:
• Your home staging client has to tell you the entire background of each piece of furniture or art work in their home and why they love them all.
• Your staging consultation is interrupted dozens of times by a client that’s constantly taking phone calls or breaking up fights between screaming children.
• You find yourself elbow-deep in a project only to learn that the client has changed their mind about using your services.
• You end up in the midst of heaps of clutter that would rival an Oprah ‘hoarder’ episode, spending hours to go through your clients’ beloved items.
If you have the proper hourly pricing strategy in place, none of these time-suckers will matter. In fact, if clients like these are eating up your time, you’re making more money by charging hourly. However, if you charge by the square foot or by the room you will find yourself working for nothing much of the time. I’m sure you didn’t go into business for yourself to lose money.
If you don’t charge by the hour for your home staging services, you really need to reconsider your pricing strategy before you burnout from all the extra work you must do to make ends meet or your business flat-lines.
Why Charging a Flat Fee Can FlatLine Your Home Staging Business - To learn more about this author, visit Staging Diva's Website.
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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