# How To Calculate All Numbers In A List Formula Maths How To Set Your Pricing As A Notary Signing Agent

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## How To Set Your Pricing As A Notary Signing Agent

Without a doubt, one of the most difficult parts of starting a professional service is pricing your services.

So you want to leave your secure, full-time 8-5 year job that guarantees you a weekly income to start a signing agent business. You saw an ad in the local newspaper or on the Internet telling you how you can make \$100,000 a year. You bought this ad, you took a course, you studied the training and now you want to go. Some key factors that this course did not teach you were “How to Run Your Own Business”, “Business Etiquette”, “Marketing”, “Research and Development” and a million and one other things to be successful. Well, I’m not about to claim to know a million things, but I’ll try to help with the other “ONE”, “The Do’s and Don’ts of Pricing;.

If you’ve done your research, you have a good idea of ​​how much competition you have, you know where your competition is, and how much your competition is charging. (No? I didn’t think so, but I was trying to give you the benefit of the doubt.) Here are the key factors to know. If you’ve already done this research, you’re miles ahead of your competition who took the same class you did. You will also find that most of your successful competitors have done their homework and are likely aware that you are entering the industry and are also preparing for a major marketing campaign to replace yours. How will you compete for the same market share? If you think lowering the price is going to do the trick, you better think twice. This can be a great initial trick, but eventually it will come back to bite you every time.

My recommendation is to find out what the average price of your competition is, set your price within the same range, and then offer a discount from there. If you think you could do it for half the price, give your client a 25% discount for new customers and then a 10% discount for their first 10 signings. This not only allows you to enter the market, but also allows you to offer an extended discount and charge the same rate as your competition in the long run, but now you are also helping to keep the signing agent industry a viable market for all

There is always the risk of overpricing your services at some point. There are only two important truths to keep in mind. If you don’t charge what you’re worth:

1. You are guaranteed to burn out quickly; i
2. You’ll resent your customers for not giving you a decent life and start treating them like dirt, a surefire formula for failure.

I would suggest that you go to your competitors’ websites and look up prices. This doesn’t mean you should charge or copy your competitor, but prices are there and are all over the internet. (Remember my notes on websites, this is another good reason NOT to include your prices on your web pages) take 10, 20 or even 30 sets of prices, add them all up and then divide by number of prices The formula will look like this: (I will use 8 sets of numbers not actual prices)

Calculate the mean of the following set of numbers:

126, 134, 155, 101, 144, 138, 151, 139

Step 1. 126 + 134 + 155 + 101 + 144 + 138 + 151 + 139 = 1.088

Step 2. There are 8 numbers in the set.

Step 3. 1.088 , 8 = 136

This gives you the average price charged by your competition.

Below I will list some of the things to consider when setting your price. 1) Equipment

• computer
• Laser printer
• Laser fax
• scanner
• portable
• Phone
• vehicle
• Office or home office
• desk
• stapler

2) Service

• Internet (high speed if available)
• Wireless Internet (Laptop Office)
• Phone
• long distance
• Secondary fax line
• Car maintenance (oil changes, tires, breakdowns, wipers, washer fluid and everything your car will need for repairs)
• Equipment maintenance
• Additional utilities for the home

3) Consumables

• gas
• Lunches and snacks on the go
• Toner for printer and fax
• Printer and fax drums
• paper
• pens
• magazines
• Grapes
• Paper clips of all shapes and sizes
• Document fasteners (depends on what you use)
• Stamp and/or stamp (depending on your state’s requirements)
• All the money you spent on training materials
• All the money you spend and want on memberships of different organizations and notarial listings
• The time you spend on research and marketing
• Thank you cards
• flyers
• website
• Software (accounting, web design, spreadsheets, PDF, etc…)
• Stamps

4) Everything else

• Time away from home and loved ones
• Last minute signings (You’re in the middle of dinner and you’re running away)
• Dates/evening engagements cancelled
• The documents are late and you are on the road until 1:00 am
• Signings have been canceled and you have already rejected 2 for this time slot.
• This list can go on forever and you will learn this after you have been in the business for a period of time. You will get angry with clients, you will be very stressed, you may have to pay for a message or therapy sessions.

If I have left out some items from the list that you think should be included, please feel free to let me know and I will be happy to add it to the above lists. webmaster@mwna.net

Midwest Notary Association offers a full line of notary training for notary signing agents nationwide. Click on the following link to view a sample video of the Notary Training CD www.mwna.net/trainvid/ [http://www.mwna.net/trainvid]

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