We talked about program creation before. Now, let’s talk pricing. How do you go about pricing your programs? What are the ongoing costs to keep in mind when pricing a program? Instructor fees? Materials/textbooks? Are you missing items like equipment startup – which you can spread over a series of courses? Or regular maintenance fees, like laundry for a nursing aide program, or equipment maintenance for a manufacturing program? Are you charging an administrative fee (also known as overhead fee) to cover the costs of staff, utilities, rents, other? You should always include this fee within your pricing.
Do you have different pricing between your regular programs that are open to the public and one that is customized training? Customized training usually means that the company could have customized training, additional support services, and a dedicated staff member. But that is a topic for another day.
There are several important items to check off when pricing a new program. The checklist below has a list of items to think of when pricing your programs. From program creation, to ongoing costs, market research, funding sources, alternative sources of funding, to funding requirements. This list should help you when working on that pricing spreadsheet.
Closing
Workforce Warrior is an education blog, created by a workforce development professional with 20+ years in all areas of workforce development and college programming, including admissions, advising, career services and program development. The goal of Workforce Warrior is to pass on the knowledge collected over the years to fellow workforce and college professionals.
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