Knowledgebase

Setting up Pricing

There were 22 articles found in this category:

1. Introduction - Setting Up My Pricing
   FrameReady offers a wide selection of pricing options for all of the components of a custom picture frame with the goal of generating a retail price. “How should I price my mats? Should I use a code table or a formula based on my costs? Should I use length pricing for my frames or chop?&rd ...
2. Pricing Moulding by the Linear Foot
   The Moulding group includes: Wood, Metal, Plastic (polystyrene), Liners, Fillets, and Extenders. The moulding group pertains only to items usually bought and sold by the foot. (Bevelled Accents™ and Faux Fillets™ are also included in this group under Fillets.) The Moulding group is g ...
3. Pricing Multi-Angled Frames
   The Multi-angle component calculates a charge for the additional time it takes to create a multi-angled frame. This price is based on a percentage of the total framing price. The more complicated the construction, the higher the percentage. 1. Go to Price Codes file > Multi-Angle side bar on ...
4. Pricing Closed Corner Frames
   Some vendors supply closed corner frames. Strictly speaking, these are not readymades, but priced as joined frames. A number of closed corner frames make extensive use of corner compos. The pricing of these compos should be placed in the Extra group and selected as required.
5. Price Codes File Auto Inventory Tab
   The Auto Inv tab is used to identify inventory levels when the program is set to automatically update your inventory either on a work order or on an invoice. To set this up, go to Main Menu > Work Orders file > Work Order Options > Auto Update of Materials Inventory check box. 1. MOUL ...
6. Increasing Prices by a Percentage
   This feature is useful if a supplier increases their prices by a percentage or if you received a percentage discount and want to decrease prices for a group of items. In the Price Codes file: 1. Do a Find for the records you wish to modify, e.g. Select Roma from the Supplier field and wood from ...
7. How to price Raphael's Panel Liners and Custom Wrapped Mats
   Raphael's Panel Liners and Custom Wrapped Mats can be priced accurately in FrameReady 8. These products are sold to the custom framer by the united inch (UI). The cost that is imported into FrameReady is a cost per UI (unlike matboard which has a cost per sheet). The Group that these products ...
8. Price by Join but order by Chop or Length
   FrameReady formulas offer the flexibility to price moulding by one method but order your moulding by another. E.g. Price by "Join times two" but order by "Length". The advantage of this method is that the retail price per foot will always remain the same, regardless of how you order the mouldin ...
9. How to delete a vendor from the Price Codes file list
   If you no longer carry moulding from a certain supplier, or a particular vendor has gone out of business then you may want to clean up your Price Codes file by removing them from your list. 1. Navigate to Price Codes file. 2. Click Find. 3. In the Supplier field, select the vendor name from the ...
10. Pre-installed Formulas Disclaimer
    It must be emphasized that the pre-installed formulas and code tables are included as a beginning point to help you get started. In no way does SoftTouch Solutions Inc. suggest that these should be your formulas or that they represent an accepted industry standard. There are a number of books an ...
11. Formulas
    Print out this document concerning typical FrameReady formulas.
12. Can I round up my formulas for moulding to the nearest dollar?
    Yes. All you have to do is enter the word 'ceiling' plus the open and closing bracket in your formula. E.g. Ceiling ( xxxxx xxxx xxxx xxxx ) 
13. Increase your profitability
    A simple way to increase your profitability without it being too much for your customers, is to increase your Set Price incrementally. Even if you were to add $1 to your set price across the board, by the end of the year you will have enough to buy a new piece of equipment, take a class at a tr ...
14. Understanding default pricing formula for moulding video
    Watch this video to understand how to default formula pricing for moulding (8 min)
15. Formula Pricing Structure
    Print out this document to help you understand pricing structure.
16. Getting an accurate cost on my COG and labour
    The price the customer pays is shown in the top right corner. Your COG is shown in the lower left corner. To get a breakdown of cost for each item on a work order, go to the top of the screen and select from the grey menu bar SCRIPTS > Cost Report for Found Set. Or, Click on the Print Documen ...
17. Selecting markup values according to overhead costs (including income tax, purchases, and expenses) for small one person frameshop/gallery?
    Most of the pricing gurus suggest having a COG at 30% or less. The lower the better. You can see a report on this in FrameReady. I would suggest that, at the end of the day, you perform a Find for all the work orders created that one day. (or Find just one order). Then, click on the Print Docume ...
18. Question mark (?) appears in price sampler column where the retail prices of common sizes appear in the Price Codes file?
    This indicates that there is an error in either your Set Price field or your Formula field which calculations the markup. Check both the Formula, to see if a ? also appears in the Markup field, and the Set Price, to see if a ? appear in tan field (not the off white box where the equation is ente ...
19. Question mark (?) appears in Set Price field in the Price Codes file?
    This indicates that there is an error in your Set Price formula. The most common error is a decimal after the number E.g. 2. instead of 2 or 2.00. Check the price sampler column on the right. If it also shows question marks after clicking on the Reset UI button, then the formula has an error in ...
20. Question mark (?) appears in Markup field in the Price Codes file?
    This indicates that there is an error in your formula; the markup cannot be calculated. Check the price sampler column on the right. If it too shows question marks after clicking on the Reset UI button, then the formula has an error in it. Take a look at the equation in the formula field or cont ...