Increasing Your Profitability

Takeaways

  • The more you are able to offer options to customize, the more you increase the value of your packages
  • Focus on low-cost options such as location or time of day for customization options
  • Add additional customization, and increase profitability, by offering Enhancements such as live music options, floral package upgrades, or additional decor.
  • Employ revenue management strategies to increase profitability and shift demand.
  • Knowing the wholesale cost of your packages is key for understanding your profitability and will help guide your pricing strategy.
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