You know that running a veterinary practice isn’t just about providing exceptional pet care—it’s also about managing a profitable business. But where to start when it comes to product pricing and markup? That’s where our Product Markup Guide comes in.
What you’ll find included in this guide:
Markup isn’t just a random percentage; it’s a strategic tool. The guide explains how to calculate your COG’s or cost of goods (including shipping and taxes), allocate overhead costs (like rent and salaries), and set a desired profit margin.
Imagine you have antibiotic tablets. The cost includes not just the purchase price but shipping and handling, too. Overhead costs like staff salaries and rent also get a piece of the pie. You set your profit margin once you’ve tallied up all these costs. In this guide, you’ll find a handy formula to make this a breeze.
Things get a bit trickier for products that your competitors also sell. Research what your competitors are charging and consider how price-sensitive your clients are. You need to set your prices to cover costs, but you also want to stay competitive. Don’t worry, our guide shows you how to balance this act with precision.
In-house lab tests or reference lab services? Both have unique cost structures. Equipment, supplies, staff expertise, and even turnaround time affect the final price. This guide helps you calculate a fair price that best reflects the quality and speed of your services.
Do you have products that need repackaging or special handling? Calculate your dispensing fees by considering labor, materials, and storage. The guide provides a step-by-step formula to ensure you’re not shortchanging yourself.
This is just the tip of the iceberg. For detailed insights, practical tools, and step-by-step instructions, download the full Product Pricing Guide and start optimizing your pricing strategy today.
