In the March 2017 issue, Phil Harwood offered a few tips to help you plan your pricing strategy. In addition to that, he also supplied a list of things you need to consider before you start developing your own pricing strategy.
They include:
- New or existing client?
- New or existing property?
- Size of client?
- Growth potential with client?
- Size of property?
- Desirable or undesirable client?
- Desirable or undesirable property?
- Proximity to operational facilities?
- Proximity to other properties?
- Difficulty of the property?
- Onsite or offsite management?
- Willingness of client to work together?
- Relative access to client?
- Whose contract is being signed?
- Payment terms?
- Reputation for paying on time?
- RFI/RFP/RFQ experience?
- Discounts being offered?
- Incentives being offered?
- Reporting requirements?
- Billing requirements?
- Notification requirements?
- Approval requirements?
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