Basic Pricing Options

FrameReady uses a variety of terms to describe the data it collects; we recommend that you familiarize yourself with them.

Understanding Pricing Options in FrameReady

First, Some Important Terms to Know
 

Cost

  • The wholesale cost of the item; the price you paid for it.

  • Each item in FrameReady must have a Cost in order to automatically calculate a Retail Price.

  • Your FrameReady Subscription includes downloadable Vendor Price Updates for:

    • length,

    • chop,

    • and join costs.

Markup

  • A multiplier, such as  4.5  used to calculate the final Retail Price.

  • For Moulding only, can also be the calculated result a formula, such as  cost*3 

Set Price

  • Optional. Set Price is a dollar value added to the retail price of the item after it has been priced on a Work Order.

  • The Set Price can be a fixed value, e.g.  8  or a formula, e.g.   cost*2 

Minimum Price

  • Optional. If entered, the Minimum Price is used only when the calculated Retail Price is too low.

  • Can be a fixed value or a formula.

Code; Code Table

  • A pricing chart that assigns a fixed price to a fixed size (to United Inches, or to square inches).

Formula

  • Optional. A calculation using several factors, e.g. a unit of measurement, a cost per measurement, etc.

Retail Price

  • For Moulding only, either a fixed or calculated value (you decide).

Price Per UI

  • Either a fixed or calculated value (you decide).

Disclaimer

It must be emphasized that the pre-installed Markups, Formulas and Code Tables are included as a beginning point to help you get started.

In no way does Adatasol, Inc. suggest that these should be your formulas or that they represent an accepted industry standard. There are a number of books and courses that specifically focus on pricing techniques. If you are unsure of what you should charge, then we recommend that you take advantage of the many educational opportunities that are available. That being said, the pre-installed formulas and code tables have been well thought through and you may use them with confidence. FrameReady users new to the industry can count on the program giving them a good starting point.

Price Groups in FrameReady

  • Every Price Code item in FrameReady must belong to one Group, e.g. Moulding, Matboard, or Fitting, etc.

  • It is the type of Group which determines the available pricing options you can use.

    For example, the pricing options for moulding are Length, Chop and Join. See the table "Groups and their Available Pricing Options" (below) for more examples.

  • The Retail Price of items in FrameReady can be the result of a calculation (which we call a Formula) or it can be manually entered as a fixed price.

    For example, the retail price of moulding can be calculated as your wholesale chop Cost multiplied by a Markup of 3. The Formula might look like this: cost * 3

The Available Pricing Options

Depending on which Group the item is in, its retail price can be calculated by:

  1. the linear foot (e.g. moulding)

  2. the square inch, foot, or yard (e.g. mirrors)

  3. the linear yard (e.g. fabric)

  4. the united inch (e.g. matboard)

  5. a fixed size (e.g. hardware)

  6. the unit (e.g. per hour)

Groups and their Available Pricing Options

  • The available Pricing Options as listed by Group.

  • Moulding, for example, can use length, chop or join to determine a final retail price. Fabric, on the other hand, can use the linear yard.

Group

Item

Cost Type

Pricing Options

Moulding

wood
metal
polystyrene
liner
fillet (includes Bevelled Accents and Faux Fillets)
extender

length
chop
join

1. formula based on wholesale cost
1A. Program default pricing
1B. Your own custom defaults
2. vendor supplied retail price matrix

Matboard

all types of matboard

e.g. regular, conservation, suede, etc

standard 32×40
oversize 40×60
other sizes

1. square inch formula
2. square foot formula
3. square yard formula
4. code table – united inch or fixed size
5. user-defined set price

Fabric

all types of fabric

linear yard

1. linear yard formula

Mat Design

all hand-done mat designs

e.g. V-Groove, corner cuts, french lines

various

1. price per united inch
2. code table – united inch or fixed size
3. user-defined set price per design

CMC Designs

all computerized mat cutters

.

1. user-defined set price per layer

Mounting

all mounting/stretching techniques

e.g. mountboard, foamboard, dry/wet mounting, conservation, etc

standard 32×40
oversize 40×60
other sizes

1. square inch formula
2. square foot formula
3. square yard formula
4. code table – united inch or fixed size
5. user-defined set price per mounting

Hardware

hinges, easel backs, wire, turn buttons, hangers, etc

piece or unit

1. price per united inch
2. code table – united inch or fixed size
3. user-defined set price per item

Glass

all types of glazing acrylic

lite

1. square inch formula
2. square foot formula
3. square yard formula
4. code table – united inch or fixed size

Extras

items not covered under any group

e.g. shadow box, etching, blocking, increase rabbet depth, etc

various

1. price per united inch
2. code table – united inch or fixed size
3. user-defined set price per item

Fitting

all fitting and other labor related charges

.

1. price per united inch
2. code table – united inch or fixed size
3. user-defined set price per charge

Multi-Angle

various multi-sided frames

.

1. percentage increase of work order

Supplies

wire, brads, staples, tape

piece or unit

1. Never entered on a work order
2. Used only for ordering sundry materials
3. Can be added to an invoice for resale

 

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