• I want to thank all the members that have upgraded your accounts. I truly appreciate your support of the site monetarily. Supporting the site keeps this site up and running as a lot of work daily goes on behind the scenes. Click to Support Signs101 ...

How do you structure your pricing for vehicle magnets?

W

WhatsYourSign?

New Member
We don't sell a ton of magnets but we do get requests and I'm not sure how others are pricing theirs?

Also - where do you purchase your magnets from?

If anybody would be willing to share how they price their magnets, it'd be truly appreciated!


Thank you.
 
Gino

Gino

Premium Subscriber
^^Yeah, I know.^^

Anyway, the stuff costs you a little over $3 a square foot. Printed vinyl which is laminated might cost you another $3 or $4. Takes about 3 mintues to laminate both pieces. Your time to come with an idea and top it off with your markup.

Doing the math according to some of the people around here, you'd be around $62 for a pair at 12" x 24".

We do all of ours on a flatbed, so we eliminate the need for vinyl and we spray a laminate on it.
​
Any sign supply house stocks the various brands of magnetic.

Good luck................​
 
W

WhatsYourSign?

New Member
Bubba06 said:
Do you know how to price your other products, and or services? Use the same logic.

It baffles me how so many people on here are in business, and don't know how to price their products, and services.
Click to expand...


Definitely a valid point but I'm in a slightly different position.

I own a marketing agency and we recently purchased a sign company so I wasn't brought up in the industry and I'm learning as we go along.

The guys who run the shop are talented and great at what they do, but I'm working through the business side of things to optimize pricing and improve operations.


I appreciate your feedback, thank you.
 
2B

2B

Active Member
Pricing IMO is a balance of comparing online prices (Vista Print, BuildASign, etc.) to what you can get local customers to spend.
Also, take into account what other local shops are selling their products for.

The above pints are done AFTER you establish what your operating cost is and the TOTAL cost of a product is.
 
Gino

Gino

Premium Subscriber
So, I take it, you just bought the business and don't like what the present employees told you, you don't believe them or they have no clue what to charge ?? The other way would be, you don't like what you see in the previous owners books and you wanna either make more money and run off your present customer base..... or you just don't have a clue for business.

There is no slightly different position.

No one cares what you owned or could do before you came into this industry, at least not me, therefore what we say.... is basically worthless. For me, I thought you had a real business and were struggling with your prices, but in reality, you're trying to figure out how to make more money without putting anything more into the pot of a plan already in motion.

Have fun................... :banghead:
 
M

mark galoob

New Member
gino, you have triggered me. i now require you to offer me a safe space...in addition i will need a transgender restroom that is accessible to me. also we will be needing a latte machine....have fun....;)

ps...im not trangender, i just want the restroom to be fair to anybody else that you trigger....:)
 
Last edited:
Gino

Gino

Premium Subscriber
night eagle said:
gino, you have triggered me. i now require you to offer me a safe space...in addition i will need a transgender restroom that is accessible to me. also we will be needing a latte machine....have fun....;)

ps...im not trangender, i just want the restroom to be fair to anybody else that you trigger....:)
Click to expand...


No clue as to where you're comin' from. What does this all mean ??
 
U

unclebun

Active Member
VanderJ said:
That's a 1000% mark up with my local pricing for magnet, vinyl and ink. Am I on the wrong side of the business? Are people really paying $90 for 2 magnet? If so, I'm starting a shop.
Click to expand...
your markup and price is based solely on materials? You don't pay yourself or your design/production/billing/sales people?

And yes, even 26 years ago when I started in this business we charged $90 a pair for 12x24 magnetics. And that was with cut vinyl lettering and much lower costs. And nobody argued about the price being too high.
 
N

Notnormal

New Member
unclebun said:
your markup and price is based solely on materials? You don't pay yourself or your design/production/billing/sales people?

And yes, even 26 years ago when I started in this business we charged $90 a pair for 12x24 magnetics. And that was with cut vinyl lettering and much lower costs. And nobody argued about the price being too high.
Click to expand...

yes he owns a supply shop
 
Solventinkjet

Solventinkjet

DIY Printer Fixing Guide
unclebun said:
your markup and price is based solely on materials? You don't pay yourself or your design/production/billing/sales people?

And yes, even 26 years ago when I started in this business we charged $90 a pair for 12x24 magnetics. And that was with cut vinyl lettering and much lower costs. And nobody argued about the price being too high.
Click to expand...

I work for a sign supply place and I based it off what we charge our customers for supplies. I get that there are other overhead costs I just didn't realize what kind of margins you guys are getting. On my end of the industry getting a 30% margin on anything is rough let alone 1000%. I'm not saying you were gouging or anything. Just surprised.
 
aGrainofSalt

aGrainofSalt

New Member
VanderJ, I am only an employee but I too was surprised to hear 200% and 300% markup on some of these things over the years. These margins are definitely high.
 
graphix45

graphix45

New Member
If you're in a retail or supply type business you only have to order products and sell products. On a typical set of magnetic signs I may spend 15-30 minutes taking to the customer before they decide that's what they want to buy. Then another 15 minutes for them to decide what they want on the signs. Now we start trying to lay out this magnetic to make it read easy and include all the info the customer wants on it. (usually too much) Then 80% of the time they want to see a proof first, so we have to wait sometimes a few days for an approval. Then 9 times out of 10 we have go back and make changes to the design. Once approved we can then use our equipment that we pay dearly for to produce these 2 small magnetic signs.
BTW we sell our 12"x24" magnetics for $85 per set. No design/layout/setup fee...that's all included. There is a lot more to consider than just how much your material cost is. Sign painters back in the day charged $100 to letter 2 truck doors with only $1.50 worth of paint.
 
Pixels Are Bad Mmmkay?

Pixels Are Bad Mmmkay?

New Member
unclebun said:
And yes, even 26 years ago when I started in this business we charged $90 a pair for 12x24 magnetics.
Click to expand...

This is our current pricing for a pair of 24" x 12" also. Full color cast vinyl print with laminate applied to .030" mag. We do offer free design as part of that pricing as long as there is no custom artwork involved in the design.
 
You must log in or register to reply here.
Top