Price List Template: Free Template for Small Businesses
Quick Answer
A price list shows what your business charges for each product or service: item or service name, description, unit, price and any options, packages, minimums or volume discounts, with an effective date. Keep one master price list based on your costs and target margins, use it for quotes, invoices, your website and your POS, update it on a set schedule and make sure every employee quotes from the current version.
A customer calls and gets one price from one employee and a different price from another. A quote goes out using last year's rates. The website shows a price you changed months ago. Without one current price list, pricing mistakes cost money and customer trust.
This guide includes a free price list template and explains what to include, how to set prices from costs and margins, how to handle packages and wholesale pricing and how to keep one master price list up to date.
What Is a Price List?
A price list is a document that shows the prices of your products or services. Businesses use two kinds: an internal master price list, often with costs and margins, and a customer-facing price list or menu that shows only prices and descriptions.
| Internal master price list | Customer price list | |
|---|---|---|
| Audience | Owner and staff | Customers |
| Includes costs and margins | Yes | No |
| Includes internal codes | Yes | Sometimes |
| Format | Spreadsheet | PDF, web page, menu or brochure |
Free Price List Template
[Business Name] Price List
Effective date: ______ | Prices subject to change | [Contact information]
| Item / service | Description | Unit | Price | Notes |
|---|---|---|---|---|
| Standard service call | Diagnosis and first 30 minutes | Per visit | $ | |
| Additional labor | Per technician | Per hour | $ | |
| Product A | [Size/color/options] | Each | $ | Volume discount over 10 |
| Package: Basic | [What's included] | Per month | $ | |
| Add-on | [Description] | Each | $ | |
Internal Master Price List
| SKU / code | Item | Unit cost | Price | Margin % | Last updated | Notes |
|---|---|---|---|---|---|---|
Keep the internal version private. Share the customer version on your website, in quotes and at the counter.
What to Include
| Element | Why it matters |
|---|---|
| Item or service name | Clear, consistent names |
| Description | What's included, size or scope |
| Unit | Each, hour, square foot, month, visit |
| Price | The current price |
| Options and add-ons | Upsells and customization |
| Minimums and volume pricing | Clear rules for larger orders |
| Effective date | Shows which version is current |
| Terms | Taxes, deposits, travel fees, expiration |
Setting Prices From Costs and Margins
Start with your costs, then add the margin you need.
- Calculate the direct cost of each product or service: materials, labor and any direct fees.
- Add a share of overhead.
- Decide your target profit margin.
- Calculate the price.
- Compare with competitors and the value to customers.
Price from margin: Price = Cost ÷ (1 − target margin)
Example: A product costs $30 and your target margin is 40%. Price = $30 ÷ 0.60 = $50.
Don't confuse markup and margin. A 40% markup on $30 is $42, which is only a 28.6% margin. See markup vs. margin.
| Cost | Target margin | Price |
|---|---|---|
| $10 | 50% | $20.00 |
| $30 | 40% | $50.00 |
| $100 | 35% | $153.85 |
| $250 | 30% | $357.14 |
Service Price Lists
Service businesses often combine several pricing methods:
| Method | Example | Best for |
|---|---|---|
| Hourly rate | $95 per hour | Variable work |
| Flat rate | $189 water heater flush | Repeatable tasks |
| Per unit | $0.35 per square foot | Cleaning, painting, flooring |
| Packages | Basic, Standard, Premium | Recurring services |
| Minimum charge | Two-hour minimum | Small jobs |
For services, include what's included and what isn't, such as materials, travel or disposal.
Product Price Lists
- List each product with a SKU or code.
- Include size, color or variant.
- Show volume pricing for larger quantities.
- Note items sold only in case packs or minimums.
- Mark seasonal or limited items.
Wholesale vs. Retail Price Lists
| Retail | Wholesale | |
|---|---|---|
| Customers | End consumers | Businesses that resell |
| Pricing | Full price | Discounted |
| Minimums | Usually none | Minimum order quantities |
| Terms | Pay at purchase | Often Net 15 or Net 30 |
| Tax | Sales tax usually applies | Resale certificates may apply |
Keep wholesale and retail lists separate, and only share wholesale prices with approved wholesale customers. Ask your accountant or state tax agency about sales tax and resale certificates.
Packages and Add-Ons
Packages make buying easier and can raise average sale size. A common approach is three tiers, with the middle one designed as the best value.
| Package | Includes | Price |
|---|---|---|
| Basic | Core service | $ |
| Standard | Core service + popular add-ons | $ |
| Premium | Everything + priority service | $ |
List add-ons separately so customers can build what they need.
One Master Price List
Every price your business uses should come from one master list. That list feeds:
- Quotes and estimates. See invoice vs. quote.
- Invoices.
- Your POS or booking system.
- Your website and printed materials.
- Order forms. See the customer order form.
In a spreadsheet, lookup formulas can pull prices from the master list into quotes and invoices automatically. See how to use VLOOKUP in Google Sheets.
Updating Prices
- Review costs on a set schedule, such as quarterly.
- Update the master list and change the effective date.
- Update every system that uses prices.
- Notify customers when prices change. See the price increase letter.
- Remove old price lists from circulation.
Sharing the Price List With Staff
- Keep the current list in one shared place.
- Train staff to quote only from the current list.
- Set rules for discounts and who can approve them.
- Remove printed copies of old lists.
Example: A Landscaping Company
A landscaping company's crew leads quoted prices from memory, and two customers on the same street paid very different amounts for the same service. The owner created a master price list with per-visit and per-square-foot prices, three seasonal packages and clear add-ons, and connected it to the quote template. Pricing became consistent, and the average job size went up as customers chose packages.
Common Price List Mistakes
- Several versions in circulation.
- No effective date.
- Prices not updated when costs rise.
- Confusing markup and margin.
- Unclear descriptions of what's included.
- Wholesale prices shared with retail customers.
Price List Checklist
| Step | Done? |
|---|---|
| List every product and service with units | |
| Calculate costs and set prices from target margins | |
| Add packages, add-ons and minimums | |
| Create internal and customer versions | |
| Add an effective date | |
| Connect the master list to quotes, invoices and POS | |
| Review prices on a set schedule |
Price List Examples by Business
Cleaning Service
| Service | Unit | Price |
|---|---|---|
| Standard clean (up to 1,500 sq ft) | Per visit | $ |
| Deep clean | Per visit | $ |
| Inside fridge | Add-on | $ |
| Inside oven | Add-on | $ |
| Weekly plan discount | Per visit | −$ |
Bakery
| Item | Unit | Price |
|---|---|---|
| Cupcakes | Dozen | $ |
| Custom cake, 8-inch | Each | $ |
| Cookies | Dozen | $ |
| Custom message | Add-on | $ |
Handyman or Trades
| Service | Unit | Price |
|---|---|---|
| Service call | Per visit | $ |
| Labor | Per hour | $ |
| Fixture installation | Each | $ |
| Materials | At cost plus markup | — |
Use these as a starting point and set your own prices from your costs and margins.
Spreadsheet Setup for a Master Price List
- One row per product or service with a unique code.
- Columns for cost, price, margin and last updated date.
- A margin formula: =(Price-Cost)/Price.
- Conditional formatting to flag margins below your target.
- A separate tab for the customer-facing version without costs.
Discount Rules
Discounts can quietly erase margins. Write down when discounts are allowed and who can approve them.
| Discount | Rule | Approved by |
|---|---|---|
| Volume | 10+ units: 5% | Automatic |
| Repeat customer | Per program | Manager |
| One-time adjustment | Up to 10% | Owner |
Showing Prices on Your Website
Publishing prices, or at least starting prices, helps customers decide faster and reduces calls from people who aren't a fit. If your work varies too much to list exact prices, show ranges or "starting at" prices and explain what affects the final price.
Price List Formatting Tips
- Group items by category.
- Use clear names customers recognize.
- Keep descriptions short.
- Show the effective date.
- Include contact information and terms.
Reviewing Margins on Your Price List
Once a quarter, compare each item's price to its current cost. Supplier increases, wage increases and higher overhead can shrink margins without any change to your prices. Flag items below your target margin and decide whether to raise the price, reduce cost or drop the item.
Getting Started This Week
- List every product and service.
- Add current costs.
- Set prices from target margins.
- Create a customer-facing version.
- Replace old lists everywhere they're used.
Sample Completed Master Price List
| Code | Item | Cost | Price | Margin | Updated |
|---|---|---|---|---|---|
| SVC-01 | Service call | $38 | $95 | 60% | Jan |
| SVC-02 | Additional hour | $42 | $110 | 62% | Jan |
| PRD-10 | Filter, standard | $6 | $18 | 67% | Mar |
| PKG-B | Basic maintenance plan (monthly) | $12 | $29 | 59% | Jan |
This sample uses made-up numbers. A quick scan shows margins by item and when each price was last reviewed.
Pricing for Rush Jobs and After Hours
Rush, weekend, holiday and after-hours work usually costs more to deliver because of overtime and disruption. Many businesses list a rush or after-hours rate or fee on their price list so customers know in advance. Make sure the extra charge covers any overtime you pay. See overtime and holiday pay in the same week.
Price Lists for Quotes and Bids
Even for custom work, a price list of standard rates and unit prices makes quoting faster and more consistent. Estimators build quotes from the list, then add job-specific items. When prices change, every future quote updates automatically if the quote template pulls from the master list. See the contractor quote template.
Common Questions About Price Lists
- Should I show prices with or without tax? Be clear either way, and follow your state's rules on displaying prices.
- How do I handle custom work? List base rates and starting prices, and quote the rest.
- What about competitor prices? Know them, but set prices from your costs and value.
Price List Quick Tips
- One master list.
- Price from margin, not markup.
- Date every version.
- Review quarterly.
- Remove old copies.
Updating Prices Without Confusing Customers
- Give recurring customers notice before changes take effect.
- Honor quotes already issued for their stated period.
- Update every channel on the same day.
- Train staff on what changed and why.
- Keep the previous list archived for reference.
A clean switch on one date avoids customers seeing different prices in different places.
Using Price Lists With Sales Reports
Compare your price list with what actually sells. Items that rarely sell may be priced too high or not needed. Best sellers with low margins may be worth a small price increase. Review sales by item each quarter alongside your margins to decide what to change. See software for tracking sales.
Price List for Employees vs. Customers
Some businesses offer employee discounts. If you do, list them in a separate internal sheet with clear rules, such as which items qualify and any limits, and keep them off the customer list. Discounts given to employees may have payroll tax implications; ask your accountant.
A Price List Is a Living Document
Your costs, customers and competitors change, and your price list should keep up. With one master list, a regular review schedule and clear rules for discounts, pricing stops being a source of mistakes and becomes a tool for protecting your margins.
Price Lists for Seasonal Businesses
Seasonal businesses, like landscaping, pool service, snow removal and holiday retail, often use seasonal price lists. Set prices before the season starts, publish them early and use packages or prepaid plans to lock in customers. Review results at the end of the season to set next year's prices.
Price List Records
Keep every past version of your price list with its effective date. Old lists help when a customer disputes a past charge, when you're reviewing how prices changed over time and when you're planning the next increase.
Pricing and Your Brand
Prices tell customers something about your business. Very low prices can suggest lower quality, and confusing price lists can feel untrustworthy. A clear, consistent and well-designed price list helps customers understand your value and makes them more comfortable buying.
Making Your Price List Easy to Read
Use clear headings, consistent units and plenty of white space. Put the most popular items or packages first, and keep fine print to a minimum. Test the list by asking someone outside the business whether they can quickly find a price and understand what's included.
Printing and Sharing Your Price List
- Save a PDF version for email and quotes.
- Post a web version customers can find easily.
- Print copies for the counter or service vehicles, and replace them when prices change.
- Share the internal list only with staff who need it.
Whatever format you use, make sure the effective date is visible so everyone knows which version is current.
Price List for New Services
When you add a new service, estimate its costs carefully, price it from your target margin and mark it as new on the list. Review its actual costs after the first few jobs and adjust the price if needed.
Who Owns the Price List?
Assign one person, usually the owner or office manager, to maintain the master price list. They update costs, approve price changes, publish new versions and make sure old copies are removed. Clear ownership keeps the list accurate and prevents staff from creating their own versions.
That person should also review the list with you every quarter, compare prices to current costs and flag anything that needs to change before it affects your margins.
Small, regular updates are easier for customers to accept than rare, large ones.
Keep the list simple and current.
Keep Pricing Consistent With Updoot
Updoot's invoice generator uses consistent pricing on every invoice, and SOP management keeps your pricing rules and discount approvals where your team can find them. Check your margins with the gross margin calculator.