Leeway prices

[LeewayComposite]

I am after some "SENSIBLE ADVISE" as regards to what people think of my prices on the leeway ribs.

[vince]

I think ours was a bargain! But i would honestly say that to compete with other boat builders in the same markets, a good business plan needs to be down in writing, with goals as to where you want to be in 2 yrs, 5 yrs, 10 etc
A lot of research in the way of prices for comparable products needs to be carried out, as with any business, its ok trying to sell the products of your labour cheaply, but i sense your thinking they`re perhaps a little TOO cheap?
With quality, you`re onto a winner already, i cant find fault at all. But being too cheap could even put people off from buying.
Have a word with banks business manager, they can help with a business plan, (if not already done one)
If the product is good, the price should really reflect it. Before we commisioned ours, we honestly thought, why so cheap? There must be something wrong with it! But there isnt....at all.
I think its time to get serious about the business side of things(IMHO) youve cracked everything else!

[LeewayComposite]

Vince,

Thankyou for the advise.

I have just lost a customer because he thought the same as you its too cheap so must be something wrong with it. unlike you he didnt come for a demo run. every demo run we have done has sold a rib apart from one.

I feel we need to increase prices again soon. The trouble is trying to find the ballance.

[Lostboy]

Originally Posted by LeewayComposite

Vince,

Thankyou for the advise.

I have just lost a customer because he thought the same as you its too cheap so must be something wrong with it. unlike you he didnt come for a demo run. every demo run we have done has sold a rib apart from one.

I feel we need to increase prices again soon. The trouble is trying to find the ballance.

I was happy with the price for number one! You may well have seen it a LOT in Cowes so far this year as I've been over for a huge number of sailing events.

It is a tricky balance and one that I experienced recently when I sold a car. I advertised it amongst enthusiasts for a price that was certain to grab their attention and it sat there for a few weeks. I then posted again and said "why does no-one want it" and got told that everyone assumed there was a problem with it. I upped the price by 50% and got it, in cash, immediately!! Quite bizarre.

You know that you are now treading the fine line between "new-boy" and being able to up the price to something more in line with market but as long as you can rely on people like me, Doug, Vince and the others to recommend you then you can probably start creeping them upwards. Get the customer concerned to PM me (or ring me) and I'll talk to them.

[LeewayComposite]

Originally Posted by Lostboy

I was happy with the price for number one! You may well have seen it a LOT in Cowes so far this year as I've been over for a huge number of sailing events.

It is a tricky balance and one that I experienced recently when I sold a car. I advertised it amongst enthusiasts for a price that was certain to grab their attention and it sat there for a few weeks. I then posted again and said "why does no-one want it" and got told that everyone assumed there was a problem with it. I upped the price by 50% and got it, in cash, immediately!! Quite bizarre.

You know that you are now treading the fine line between "new-boy" and being able to up the price to something more in line with market but as long as you can rely on people like me, Doug, Vince and the others to recommend you then you can probably start creeping them upwards. Get the customer concerned to PM me (or ring me) and I'll talk to them.

is this mark??

It must be..

good to here from you. i have seen the number one out and still think she looks fantastic. we are on number 15 now and still taking orders.

I tried conntacting you a few time but had no luck.

[Lostboy]

Originally Posted by LeewayComposite

is this mark??

It must be..

good to here from you. i have seen the number one out and still think she looks fantastic. we are on number 15 now and still taking orders.

I tried conntacting you a few time but had no luck.

It is.

Strange, I haven't had anything from you but just assumed that you were too busy!!! The boat has been in the water for a while now so has navy blue Blakes Hard Racing Antifouling (burnished) and it makes no difference whatsoever to the performance and looks EVEN BETTER!!!! It's done well over 150 hours this year (engine will soon need ANOTHER service) but has been superb. I am in love with the engine, so torquey and running only 10l/hour!! I met up with the no.2 boat guys at the start of the Volvo Ocean Race and we were comparing notes and they get the same out of their Optimax.

PM with the numbers and emails that you have for me and if they are wrong/changed then I'll update you.

[vince]

How much do you re-invest into the company? Once wages, materials, rent etc has been paid, is there enough left? Without re-investment, it will allways stay at the same level of turnover/profit. Set a realistic level of money to plough back into the company each month, and then dont touch it untill its needed. Once youve set that level for each month, working out how much prices need to go up is easier. Then one day you shall have that nice factory with its own waterfront and testing facilities! etc etc

[richkid]

I PASSED MY ADVANCED COMMERCIAL ENDORSEMENT ON A LEEWAY WITH EXPERT KNOWLEDGE AND TUITION FROM DOUG AT STORM FORCE COACHING . I came over to the island to pick her up with doug , when we got her in the drink she was up and off , handles spot on brill fun i think you have a spot on RIB if i had the money i would BUY ONE good luck ! and keep up the good work !!!!

[RIVA]

are you actual makeing money ??

is the question hope the advice helps

j

[LeewayComposite]

Originally Posted by RIVA

are you actual makeing money ??

is the question hope the advice helps

j

good question..

yes. but not much.