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Courier Service Business Price Lists – How to Develop a Price List Your Bank Account Can Live With
Creating a price list for a Courier company is more than critical, it should be ready before your company card. So, when you first enter the market as a new business, what is your plan? How much can I pay and still get the business? Is it enough to make a profit and can I grow the business with this profit or just survive? Let’s look at some ideas.
Know your market. You need to look at the competition first. How much do they charge for local delivery and how much do they charge per mile for delivery? Do they charge different prices for Small Cars and Vans? (Trucks are a completely different pricing structure) Do they charge for Trials? Do they charge for waiting time? Do they require weight and number of packages? What about extra stops in the same race? Do they include gas, after hours tolls, etc. on their bills and do they include their bills on their receipts? Do some good detective work and get a copy of their letter if possible.
Base Price: This is the price you charge for regular deliveries within a 25 mile radius of your location. You can go 1 mile or the full 25 miles but the charge is the same. Many companies simply use their local tax rate for the city they are located in and use a Citywide rate (depending on size, of course.) This is a significant cost, however, because usually more than 50% of your company will. done here. If you are underpriced or overpriced, this is “Loser”.
Charge per Mile: This one has a loophole in it. The cost per mile must be competitive and reflect the market in which you operate. Some areas get more per mile and some less. It depends on where you live. As of this writing, I’ve seen per-mile charges from $1.35-$2.25 per mile in different areas. What you need to decide is the price that your customers can live with, if they allow you to live, continue to maintain and pay for the gas. If the number is wrong “You lose”.
Details: There are many different types of surcharges. The most common are fuel costs, after hours, extra men, equipment, airport, vacation, and more.
One of the most important factors in today’s environment is the cost of oil. It’s there to allow you a consistent mileage rate while also being able to adjust for fuel price increases. Currently, the average fuel price is 15%-22%, depending on your market. This is the percentage you add to the total for each delivery.
After-hours fees apply. It is common practice for a company to charge a percentage or surcharge after normal business hours such as after 6pm to 6am.
What about holiday fares? The best way to determine what the holidays are is to use the schedule of the largest Courier company in the world FedX. If they don’t work, you pay extra for the Holiday. Get a schedule from FedX and list those holiday dates in your price list. The amount of money is usually a flat rate of $25 or more.
Airport Fees: As a time-critical courier, you will often travel to the airport to pick up or drop off. Airports can be a hellhole for drivers to enter. Airplanes are extended, lines are long, staff are absent, paperwork needs to be filled out carefully, which takes extra time and effort. Therefore, you add additional fees to the basic price, every time you go to the airport. This is usually $5-$25 depending on your situation.
Late Payment Fees: Many businesses feel that if they charge late payment fees, they will lose customers. I can’t deny that it can happen, but it’s better if you leave them $100 than $5,000. Some of the best have happened to me, so do what all other sellers do, get them if they are late, whether it is 30, 45 or 60 days, you decide what your requirements are.
Test: Sometimes you’ll come to pick up a package and it won’t be ready or you’ll go to deliver a package and it won’t and you’ll be able to sign for it and receive it. It’s an experiment. It takes you as long to do this as it does to get the job done, so you pay a fee for your time and effort. Most companies pay 50% to 100% of the initial cost of the trial. Don’t do your customers a favor here unless you feel you have to. Your time must also equal $$$$.
Extra Men/Equipment: For some deliveries, you may need special equipment, such as furniture blankets, special trucks, ropes or speakers. All of these come at a cost to you and you must pass that on to your customers. The fee amount here is too variable for me to add any advice but cover the fee and add a percentage of the profit. Also, sometimes, you may need to send extra men to help with the packing. When you do this, set a reasonable rate and start the clock from the time they get in the car until they finish the job and get back.
Weight and number of packages: When you charge a fixed rate, you must assume that the rate has a weight limit before you add the rate. The same goes for the number of packages. Therefore, in the price list / sheet, tell the customer what this limit is. For example, this price is good for the 1st 200 lbs. Over $00.?? for every additional pound. Or equal to the number of packages. this price is good for 1st 3 packs, after that $??.?? for each additional package.
Additional stops: When you pick up multiple packages from one location to deliver to the same customer, they often expect a lower price. Currently, this only applies within the same city or a 25 mile radius area, for example. It is common to pay 50% for additional deliveries. If these deliveries are to other areas, they will be at full price.
Waiting time: Delivery does not always run like clockwork. They are the times when the package isn’t ready when you arrive, the times you have to wait for someone to sign or miss the person you’re signing for. That’s when the waiting time starts. You usually allow customers 15 minutes per location to effect pickup or delivery. After that, wait time charges per minute. This fee usually ranges from $30-$40 per hour broken down into minutes.
Van Prices: All I’ll say at this point is that all of the above, even though it’s for smaller vehicles like cars and trucks, also applies to Vans. Apart from this, the basic charges, mileage charges and other additional charges need to be adjusted due to the increase in operating costs.
Keep updating your price list. Keep it neat and professional. Be prepared to share OFTEN! Make sure it’s easy to read and gives the customer what they need to choose you as their Courier Service.
All these additional charges must be listed in your fee list/bill and the customer must be fully aware of the charges. NO SHOCKING or “You lose”.
Make your Courier Service Business dominate your market.
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