Published Aug. 2, 2012
No matter what you’re selling, the “right” price to ask is never clearly defined. Chip Averwater, a third-generation retailer and chairman of Amro Music Stores in Memphis, TN, has seen it all and has developed a list of tried-and-true pricing advice for other business owners. Here are Averwater’s top pricing tips.
By Daniel Kehrer
Founder, BizBest.com
For many small businesses, survival depends increasingly on finding the ever-elusive “right price” for whatever goods or services are being sold. But there’s no magic formula. No matter what you’re selling, the “right” price to ask is never clearly defined.
About the Author
Daniel Kehrer, Founder & Managing Director of BizBest Media Corp., is a nationally-known, award-winning expert on small and local business, start-ups, content marketing, entrepreneurship and social media, with an MBA from UCLA/Anderson. Read more of Daniel's tips at
www.BizBest.com, follow him at
www.twitter.com/140Main and connect on LinkedIn at
www.linkedin.com/in/danielkehrer.
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Current
City: Fayetteville, NY
Manufacturing backgrond. Experience with engineering; sales/ marketing; general management disciplines. Distribution thru Retail, Commercial & Industrial channels. President/ CEO of 5 corporations.
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Education
BSME - Syracuse University
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Current
City: Costa Mesa, CA
Business start up, business plans, financing your buisness, financial projections, cash flow, budgeting, intellectual property, turn-arounds for troubled businesses. Retail, manufacturing, entertainment, the environmental industry and non-profits. I began my business career by starting a retail ski shop, which built to $1 million in sales as the ski industry boomed. When my daughter was born I soldl the ski business and became a stay-at-home mom entrepreneur. I sold custom portraits of children and pets through mail order and specialty shops. Five years later I sold the portrait business and entered the University of Pittsburgh M.B.A. program, majoring in Accounting and Finance. After graduating Magna cum Laude I worked as Assistant Controller and Factory Systems Analyst for a large aluminum foundry and rolling mill in Eastern Ohio. Two very cold winters later I moved to Southern California as Project Financial Analyst for Hughes Aircraft.I moved to Disney to manage the financial affairs for several divisions at the park as well as the construction of Thunder Mountain Railroad. I left Disney to work as a Special Projects Analyst for Shell Oil, then spent 11-1/2 years at Digital Equipment Corporation. At DEC I worked directly with the Western Vice President of Sales, managing the budgeting, reporting, and awards programs for a 300 person sales force. I also served as executive partner to several aerospace and banking companies, wrote the strategic plan for a new $50 million venture, served as national training manager for the Finance and Accounting organization, and as training liaison between Finance and Accounting and the sales group. In 1992 I took early retirement and became a SCORE volunteer. Currently, I work half-time doing marketing, accounting, and financial planning for a small family owned firm. I also work periodically with the Cal State Fullerton School of Business Entrepreneurship program and run three small businesses: consulting for several former employers, art beading and freelance writing
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Education
BA, University of Pittsburgh, Cum Laude -- Studio Art Major, Theater and dance minor MBA, Univeristy of Pittsburgh, Magna Cum Laude, Finance and Accounting. 5 time winner, Chapter Cyber Counselor of the Year Award.
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Profession:
CPA
Current
City: New Rochelle, NY
Expert in Business Start ups, Buying and Selling a Business, Business Plans, Business Legal Forms,Obtaining Fnancing. 1965 to 2003 W.R.Grace & Co. Corporate Vice President of Finance. For last 25 years negotiated worldwide acquisitions and divestment's of various businesses ranging from $25 million to over $1 billion. Coordinated due diligence, both in house and third party, including work of independent accountants, investment bankers and attorneys. Negotiated financial and purchase price sections of relevant agreements and reviewed other documents. Resolved all post closing purchase price adjustments and business issues. Worked closely with investment bankers in achieving corporate value objectives. Prior to 1980 was responsible for both internal and external world wide financial reporting. Corporate business plan and financing initiator. Start up business initiator. 1960 to 1965 PriceWaterhouseCoopers LLC. CPA
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Education
Columbia University Greaduate School of Business. MS degree in Accounting. University of Pennsylvania, Wharton School of Business. BS in Marketing
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Current
City: McAllen, TX
Expert in national retailing management. 31 years with a national retailer. 12 years in Chamber of Commerce and Convention and Visitors' bureau. Specializing in business development workshops, event planning, tourism, convention sales and service. Customer Service, Sales, Performance Reviews, Business Planning, Diversity and Harassement workshops my specialties.
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Education
Bacholor of Arts degree in Philosophy from the University of Dallas.
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30 years corporate retailing with major department store chain, national value department store chain and small regional music sales and video rental chain. Areas of emphasis: Men's wear, junior women's wear, children's wear, women's lingerie, accessories and jewelry, mens, womens, childrens apparel, clothing Experienced in buying and selling and marketing retail merchandise. Single and multiple store operations. Held senior management positions at the Vice President General Merchandise Manager, Vice President Stores and Executive Vice President levels. VP advertising, sales promotion and display division in the department store. Founded and operated my own small business. Created vinyl signs. Sold business after five years. In addition to SCORE, currently serve as a home owners budget and finance committee member overseeing a $6 million budget. Served 4 years as VP local Chamber of Commerce. Served on my town's economic development committee. retail, department store, discount, clothing, women's, men's, children's, inventory, budget, trade show, showroom, markup, online, ecommerce, women's wear, men's wear, lingerie, funding, borrowing, research, buying, advertising, sales promotion
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Education
University of California, Berkeley BS in Banking and Real Estate San Francisco State University Graduate studies in Marketing
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Experience with exporting, international, foreign trade, hiring sales reps, business to business marketing, ROI marketing, eCommerce and new product development. Director of International Division for sales and marketing for industrial measurement systems to refineries, paper mills, mining and other process industry. Director of Engineering for design and R&D of industrial process measurement systems. Managed 40 engineers and physicists developing non-contact industrial measurement systems. Cincinnati Ohio
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Education
BSEE OHIO UNIVERSITY
MSEE OHIO STATE UNIVERSITY
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Retired Sr. Technical Executive with Fortune 500 companies. Black & Decker, Pentair, Deere & Co., Lutron Lighting, Reliance Electric 39 years experience of design, development, manufacture, and innovation relating to consumer products. Special expertise with batteries, chargers, and motor technology. Advice on patent and trademark processes along with product planning. Considerable experience with expense budgeting process, capital budgets, strategic planning and tracking processes. Broad experience with proven cost reduction techniques. Can advise clients in regulatory and safety matters: UL, CPSC, EPA, CEE Fluent user of MS Professional Office Software, wireless networks. Assistance with organizational development for technical staffs.
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Education
BSEE Penn State
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Current
City: Lancaster, PA
CPA, working in large and small firms, as well as controllerships in smaller manufacturing companies.
Owner of franchised retail business.
Currently conducting part time accounting/tax practice.
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Resume
Education
BS Lehigh University
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Current
City: Gainesville, FL
1972-1976 Attorney in private practice 1976-1988 Operation and ownership of multi-store convenience store chain 1989-2006 Operation and ownership of contemporary American craft gallery 2007- Retired
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Resume
Education
1969 BA, University of Florida 1972 JD, University of Virginia 1976 Master of Law, University of Miami, Florida
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