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Quick Look Course Summary:Costing and Pricing for a Business (Unit Standard 263455) (2 days)
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Length: 2 day(s)
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Price (at your venue): 1 Person R 14,642 EX VAT 3 Person R 9,476 EX VAT 10 Person R 6,472 EX VAT
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Certification Type:Accredited
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Locations & Venues: Off-site or in-house. We train in all major city centres throughout South Africa.
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Costing and Pricing for a Business (Unit Standard 263455) (2 days)
Business owners and staff who know what their products and services really cost, understand what drives their prices, and set prices that cover costs and leave a profit – with 6 accredited credits.
Many small businesses fail not for lack of customers but because their prices never covered their costs. This accredited costing and pricing course covers unit standard 263455 (NQF Level 4, 6 credits), a core unit standard in the FETC: New Venture Creation (SAQA ID 66249), which BOTI delivers under its Services SETA accreditation.
Day one sets out the basics of a price-setting policy: how the trading cycle flows, how costing differs from pricing, and the difference between fixed, variable and total costs. Delegates then look at the internal and external factors that push prices up or down, the limits of the business's activity levels, and how price changes move the break-even point.
Day two puts the numbers to work on each delegate's own venture: comparing absorption and variable costing, calculating and analysing profit mark-up, telling gross, operating and net profit apart, and researching competitors' prices to inform costing and forecasts.
Why this course
For your organisation
- Prices based on real costs, not guesswork
- A clear view of break-even for each product or service
- Pricing decisions that account for market and competitor pressure
- Better forecasts of whether a venture will be profitable
- Six accredited credits towards the FETC: New Venture Creation
For your delegates
- Six accredited credits towards the FETC: New Venture Creation
- A costing and pricing worksheet for your own business
- Confidence in calculating mark-up and break-even
- A method for comparing your prices with competitors'
What delegates will be able to do
- Explain and illustrate the trading cycle of a new venture
- Distinguish costing from pricing for a product or service
- Explain fixed, variable and total costs in your own venture
- Weigh up the internal and external pressures on pricing and profit
- Calculate how pricing changes affect the break-even point
- Compare absorption and variable costing methods
- Calculate and analyse profit mark-up and distinguish types of profit
- Investigate competitors' prices to inform costing and forecasting
Who should attend
Owners and managers of new and small businesses, entrepreneurs preparing to launch, and staff who cost or price products and services. The unit standard assumes mathematical literacy at NQF Level 3.
Course outline
Day 1 – Unit standard 263455: costs, prices and the factors behind them
Outcome 1: Criteria for a price-setting policy
- The trading cycle of a new venture, step by step
- Costing versus pricing for products and services
- Fixed, variable and total costs in your own business
Outcome 2: Factors that affect pricing decisions
- Internal factors and their effect on profit
- External factors: market, competition and the economy
- Activity levels and the limits of capacity
- Calculating break-even and how price changes move it
Day 2 – Unit standard 263455: costs, revenue and profit
Outcome 3: Costs, revenue and profits
- Absorption and variable costing compared
- Calculating and analysing profit mark-up
- Gross, operating and net profit
- Researching and comparing competitors' prices
- Using costs and prices in forecasts
Practice: pricing your own product or service
- Costing and pricing a real offering
- Testing the price against break-even and competitors
- Portfolio of evidence: what to submit
How it is delivered
Two days, 08:30-16:00. In person at your offices anywhere in South Africa, at a BOTI venue, or live online. One delegate or a group of up to 20. Learner guide and workbook for each unit standard, practical workplace activities, and a portfolio of evidence that delegates complete after the course for assessment and moderation.
What our clients say
“The training was practical, engaging and relevant to our workplace environment, providing participants with valuable knowledge and practical skills that could be applied in their respective roles.”
“The facilitator was excellent and took time to ensure that the employee understood the content and was able to apply the learning in order to develop the portfolio of evidence.”
“The training was well received and we were impressed by the knowledge of the facilitators and the quality of overall training.”
Frequently asked questions
Is this course accredited?
Yes. It covers unit standard 263455, Apply the principles of costing and pricing to a business venture (NQF Level 4, 6 credits), a core unit standard in the FETC: New Venture Creation (SAQA ID 66249), delivered under BOTI's Services SETA accreditation (12582).
Until when can delegates enrol?
Delegates can enrol until 30 June 2027, the last date for enrolment of the FETC: New Venture Creation.
Are there entry requirements?
The unit standard assumes mathematical literacy at NQF Level 3.
How are delegates assessed?
After the course each delegate completes a portfolio of evidence based on their own business, which is assessed and moderated. Delegates found competent receive a statement of results.
Is there a version without assessment?
Yes. Apply the principles of costing and pricing to a business venture covers the same subject without assessment, with a BOTI certificate of attendance.
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