Put Your Prices Up: The Simple Step to Secure Your Future

It’s that time of year again – time to raise your prices. At the very least, you should adjust your pricing to match inflation. If you don’t, you’re effectively earning less money each year, or worse, working harder just to maintain the same profit.

Let’s break it down with an example. Say you charge £60 per service. By increasing your price by just £5 per job, you’ll bring in a significant £7,800 more per year if you complete 30 services a week. That’s extra income you can invest in your business, your team, or even yourself.

Worried About Losing Customers?

One of the biggest fears about raising prices is losing customers. But let’s crunch the numbers:

• If you’re doing 30 services a week at £60, that’s £1,800 per week.

• With a £5 increase, your new weekly revenue would be £1,950, even with fewer jobs.

• You could afford to lose up to 7.7% of your workload (about 2 jobs per week) and still make the same revenue as before the price increase!
  

In reality, most businesses find they lose little to no customers when raising prices by small amounts. Many customers won’t even notice, especially when they value your quality and reliability.

Why You Should Act Now

• Inflation eats into profits: If you don’t adjust your prices, rising costs will hit your bottom line.

• It’s a business norm: Everyone from utility providers to supermarkets adjusts prices annually.

• Value your expertise: You’ve worked hard to build your skills and reputation – don’t sell yourself short.
  

So, take the leap and put your prices up today. You deserve to be paid fairly for your hard work and expertise, and your business’s future depends on it.