Are You Charging the Right Price? The Power of Knowing Your Average Cost
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Are You Charging the Right Price? The Power of Knowing Your Average Cost
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In this episode of the Heart of Austin Minnesota podcast, we explore a deceptively simple but powerful question for business owners: Do you know how much it costs to provide your goods or services? Knowing your average cost is more than just a bookkeeping exercise—it’s critical to setting profitable prices, spotting cost creep, and staying competitive in your market.
Based on a recent blog post from the Austin Area Chamber of Commerce, this conversation breaks down how to calculate your average cost, what industry benchmarks look like, and how local businesses can use this metric to make smarter decisions. Whether you run a coffee shop, auto repair garage, salon, or boutique in Austin, this episode will help you answer the question: Are you charging enough to thrive?
📝 Read the full blog article here.