Upselling is a major plus in any sale. When someone is buying a new home, a car, or carpet, it may be the initial price or sale offer that gets noticed, or it might be the initial hook — but it’s the add-ons that push up profits. In the carpet world, that’s custom carpet edges.
Custom Carpet Edges Pricing
Many folks offer a standard binding edge service, and that’s a terrific profit center, but why stop there? Whereas standard binding usually brings $.80 to $3.50 per foot, offering a more upscale edge can double or triple the profits.
Here is some current market pricing for custom carpet binding:
………………………………Cost per foot……Retail charge…………………….Profit per foot
Standard Binding $.07/ft $1.75/ft $1.68/ft
Cotton Binding $.12/ft $2.50/ft $2.38/ft
Serge Binding $.23/ft $4.25/ft $4.02/ft
3” Wide Binding $.40/ft $6.00/ft $5.60/ft
5” Wide Binding $.60/ft $8.00/ft $7.40/ft
Note: Prices roughly based on costs as of September 2023 and profits will depend on your local market pricing.
With these very basic examples, you can see that the profit per foot rises exponentially and dramatically if you offer additional binding options. If you already own a binding machine, your move towards more profits could be as simple as investing in a custom attachment. The other option is to use a DIY product called Instabind that doesn’t require any initial investment. The only tools needed to apply Instabind are a pair of scissors and a hot glue gun!
Invest in Carpet Binding Equipment for Greater Profits
Give it some thought. For just a small investment that will pay for itself quickly, (or none at all if you use Instabind), you can see your business realize a greater profit margin in no time.
Bond’s customer service department is always available to answer any carpet binding questions you may have, so please feel free to call us at 1-888-800-BOND.