How do I set a price for my service in a foreign market?

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In pricing your service, you need to take into account both what people expect to pay for the service, your break-even point and the profit you would like to make. Calculate your break-even point by determining how much you need to make per service (or per unit of time) in order to cover both your fixed (overhead) costs and the variable costs linked to providing that service. If you are a professional, calculate your daily break-even fee by adding all your costs and dividing the total by the number of days you have available to provide the service. In estimating the number of days available, take into account the number of days you will need for holidays, business development, professional development and administrative work (which is likely to leave you with between 160 and 185 days available in a year).

Related Subject(s): International Trade and Finance
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