bass string markup

[Dean May]

Have you ever priced bass strings for a bass fiddle? $30-$50 each.

 

I don't do a break out on the string cost. I just charge a package
installation price that includes the string- $27.50, and that is for a
universal. I charge $22.50 to tie one. 

 

Why shouldn't you charge as much mark up as a store? We are actually
justified in setting a higher margin. A retail store moves more product. The
more product moved the lower the margin that can be charged. Just look at
Wal-Mart and Sam's Club. Since we move less product our margins should be
higher. Figure the time you spend studying catalogs, placing orders, paying
invoices, making the appointment on the phone, travel time, plus the time
you spend making the sale. Then add in the time for bookkeeping, advertising
costs, vehicle costs, etc. etc.

 

Consider all the money you get tied up in an extensive inventory of repair
parts, and how slow the turnover rate is. A lot of it will never sell until
you are dead and gone, and then at a hugely discounted rate. So any profit
on what you do sell now has to cover your expenses for the dead inventory as
well. 

 

Charging what we are worth is one of our biggest emotional struggles. I know
it is for me, because I always like to get the best deal I can when I buy
something. So I like to give my customers the same. But I also have a family
to feed.  I finally had to come to a place where I was willing to charge
more than I would want to pay. Otherwise I would have starved myself out of
the game years ago. I don't hold a gun to my customers and they keep calling
me back. In fact I got a $10 tip yesterday after raising my tuning fee $14
from the last time I had tuned for this customer (3 years previous).

 

The work we do for our customers is very discretionary spending for them.
It's a splurge. Its not a life sustaining service like bread on the table or
gas for the car. Don't feel bad about making a profit. If your standard of
living isn't at or above your average customer I'd say you probably aren't
charging enough. 

Dean

Dean May             cell 812.239.3359 

PianoRebuilders.com   812.235.5272 

Terre Haute IN  47802

  _____  

From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf
Of Tom Sivak
Sent: Tuesday, January 23, 2007 8:28 AM
To: Pianotech List
Subject: Re: bass string markup

 

John, I'm with you.  I just can't do much markup on replacement strings.
WIth installation labor costs, it's already expensive for the client.  I
mark them up a couple of bucks and charge for my labor.  

 

I feel that 'retail standards', such as a 100% markup, are not appropriate
when there is no store front with rent costs to be covered.  JMHO.

 

Tom Sivak

Chicago

Farrell <mfarrel2 at tampabay.rr.com> wrote:

100% markup is a retail standard. Some, including me, lower that up to 50% 
for big-ticket items (>$100).

Ever have a retail store owner frown with guilt when you made a purchase? 
You shouldn't either.

Terry Farrell

----- Original Message ----- 
>I have to replace three wound bichords in a clients piano. I have ordered 
>them and they arrived today. I'm just wondering what the usual markup for 
>individual strings might be if any. While I'm on the subject, I have 
>always felt uneasy about markup on parts never quite knowing how much is 
>the norm. By the time it gets to me with shipping and various taxes, the 
>parts seem rather expensive and I feel guilty about marking it up further. 
>I would apreciate any thoughts on this matter.
>
> John Pengelly 



 

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