Pricing help

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AllOutFrames
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Pricing help

Post by AllOutFrames »

Hello,

I have just been contacted by a young man who's father has sadly passed away. He has asked for help pricing up completed framing jobs his father had finished so they can bring in money to pay the overheads on the shop. His father's laptop is locked but the son was able to access an old laptop with a pricing system on it. Has anyone got any ideas how to help him price up his father's work so they can try to wrap the shop up and move on? Is there a pricing system that has been around for a while, updated in recent years which I could get to help him price up? I don't use an computerised system so am unsure how to help. Any advice would be greatly appreciated.

Thank you,
Robert.
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Re: Pricing help

Post by Not your average framer »

Being realistic about your chances of selling the assetts of the business at this time, you are going to find it difficult to sell any of the framing materials even in normal times, because what different framers choose to stock are very unlikely to coinside with hardly any of the stock that you have and the cost of transport the stock together with other framers having space to store it in their exist business premises, will severely limit the number of people even likely to think about buying the stock.

Unfortunately while everyone is subject to the corona virus shut down at the sane time, I would suggest that finding a buyer for this stock is not going to happen at this time. So if it needs to be cleared right now, what is the current realiable value? Many would consider it a liability, rather than an assett of any meaningful value. Have you considered selling the whole business as a possible option, this may perhaps be more realistic to consider.

The normal tools and equipment are probably the most salable items that you have and these may well be the most easily disposable items that can be traded for cash. Obviously the actual value of each item will depend upon condition, how far a buyer has to come to collect it and how much demand there is for the particular items at the time. I'm certainly not the person to advise you, but there are businesses who know how to go about selling these items and maybe you might consider talking to some of these businesses.
Mark Lacey

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AllOutFrames
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Re: Pricing help

Post by AllOutFrames »

Thanks for that. I appreciate selling their business in rural Co Durham is a tall order and highly unlikely. I think the son was needing help with pricing up framing jobs his father had already finished and that needed to be returned to customers. The father had a pricing spreadsheet set-up but I am unfamiliar with it and where he bought the set-up which leaves me unable to accurately price up the completed jobs for the son. I got the impression his family need to get the works out to bring in money owed so they can pay overheads. It's the most awful timing for them, but I think they realise selling is not going to be easy. Thanks for your thoughts.
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Steve N
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Re: Pricing help

Post by Steve N »

Contact John Mcfee, the administrator for this Forum, he's the auther of a computer pricing program EstLite, which has been around for a long time, I'm sure he could help
Is there any writen notes/invoices for the work done, I hope they manage to get this sorted, especially at this time.
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StevenG
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Re: Pricing help

Post by StevenG »

If the materials used are known send me the sizes & product codes etc & I'll give you my price. It might not be exact bit it might give you an idea
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Steve N
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Re: Pricing help

Post by Steve N »

That's a damn good idea StevenG, didn't think about that :clap:
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AllOutFrames
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Re: Pricing help

Post by AllOutFrames »

Thanks Steve, that’s a kind offer. As I work at home and don’t have the overhead costs, my prices will not beset like a gallery shop. I’ll contact the son and get back to you if that’s ok? Many thanks.
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Re: Pricing help

Post by pramsay13 »

Surely if the jobs have been completed the customers will know what the price would be and will be expecting to pay that.

I would just phone them to tell them the work is completed and ready to be picked up, and if they can remind you of the price agreed as you can't access the laptop.
AllOutFrames
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Re: Pricing help

Post by AllOutFrames »

Thanks, I did have that thought too, a quote must have been given. You'd like to think that people would be honest, especially at a time of bereavement. It's also in a place where everyone knows each other so foul play would not be taken to kindly.
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Re: Pricing help

Post by John »

When you say that your friend's laptop is "locked", do you mean that it is password protected? If so it may be still possible to gain access. If you haven't already tried, enter something like "How to access password protected laptop" into Google (also YouTube), there are lots of sites and video tutorials out there to explain how it can be done.

Is it really possible that your friend will be able to phone the customers though? This implies that the finished jobs are tagged with the customer's name and contact details, yet not with a description of the work to be done or agreed price.
AllOutFrames
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Re: Pricing help

Post by AllOutFrames »

To be honest, I have no idea! He phoned on Friday and explained the situation of a locked laptop and the need for help pricing work. It does seem a bit odd. I'm hoping he will go to his father's gallery when he is ready and able to do so, and will find the relevant paperwork. There must be some. He has possibly panicked with the thought of so much to sort out.
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Re: Pricing help

Post by Not your average framer »

I think there is probably a difference between evaluating the value of stock and equipment for the tax office for the purposes of valuing the estate and having the same items valued for other purposes. My accountant is allowed to devalue my business acetstts every year by a fixed amount to allow for depreciation as well. You may need to seek an expert opinion about some of this from an accountant.
Mark Lacey

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