Pricing Concepts in FrameReady

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?”

Many shop owners already know how they want to price their framing components. Others feel confused by the vast array of pricing options. How you arrive at that retail price is another question. FrameReady allows the shop owner to price their own way and not be encumbered by rigidly imposed formulas which may work for some demographics but not for others.

What are Code Tables and why have them?
Many framers have developed sophisticated charts or tables to price their frame components. Some of these tables cannot be easily translated into a formula that will work in FrameReady. The program uses code tables to price items either by the united inch or by a fixed size (e.g. 8×10, 11×14, 16×20, etc.). A set dollar amount is associated with the UI and the fixed size measure (the fixed size is referred to as XY). Prices can be modified individually by clicking in the price field and entering an amount. This method provides a way duplicating previously used charts and other arbitrary pricing schemes. The Code table screen allows you to view which items are being used by that table. Once the code table is created, all you have to do is select the code on the item record.

How do I compare how FrameReady will price an item in comparison with my existing chart?
In the Price Codes file, the form view of each group’s Pricing tab has three columns of numbers over to the far right. This ‘price sampler’ displays what the retail price will be using the current values, i.e, formula and/or set price. Changing the values in these fields will result in a change in the sampler. It is a great way to quickly look up a retail price for any moulding without creating a work order.

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Posted on Bert de Roo in Setting Up Pricing