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has anyone else had a price increases this year?
This time of year we normally think about increasing our prices to keep up at least with inflation + a bit if we can get away with it.
Just wondered how many others have an annual increase, and if so how much and when?
Peter -
8 Replies
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i must be honest.. i’ve never thought about it as such, so will watch this thread with interest!
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Is that the way it works for you Peter? thought for most it was just longer hours/more work to survive 🙁
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I generally raise my prices every two years or so.
Not completely across the board, but for certain items.
Last year was the first time in about 15 years I raised the price on magnetic signs, and I’ve just raised it again.
I read on another forum where a man who does digital stuff was lowering his prices to better compete in his market area.
Utter foolishness!
The price of everything has gone up lately…and your prices should as well.
This also helps to weed out the tire-kickers…let them go to the cowboys who eventually cheap themselves right out of business.
I probably sound like a money-grubber but I am just being honest.
My weekly grocery bill has more than doubled in two years, and I plain need to make more money to stay afloat!
Love….Jill -
Our prices are going up. But this is mainly due to our lower pricing when we first started and now we’ve got bigger client’s who don’t try and screw us down on price. We’ve also appreciated that we weren’t charging appropriately for things like design and so forth.
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We don’t normally have to raise prices. We keep up with inflation by various means, like increasing efficiency, not lowering them when clients simplify their vehicle graphics, better buying, etc etc.
However, over the Christmas break I’m going to look seriously at what we charge. Most customer’s prices will stay the same, but those that bugger us about can expect some stiff increases. Then, if they want to take their business elsewhere, that will be fine, but if they want us to carry on doing it then they will have to make it worth our while to do so.
I think it is only good sense for us to spend more time looking after our good clients rather than wasting time on the bad ones.
So Peter, which inflation rate will you be using? The one published by the government, or the real one?
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I was thinking that myself Peter knowing how much fuel has gone up and how much plastics & metals have increased. Had a few letters from suppliers already about increases.
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Hi all,
On the price lists I send out I stipulate "next price review" then the date of review. This way the customer has an idea that there will be an annual price increase to cover inflation.The last place I worked at didn’t increase their prices for over 6 years and when they finally did work out their profit margins – eh, well, that’s why I ended up being self employed :lol1:
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Hi All,
I have been very lucky towards the end of this year and landed a couple of nice contracts so haven’t really thought too much about raising prices.
If (please god*) this contract work pans out well for me then i guess I’ll be more choosy about the work i take on through the shop rather than raise prices.
*. Other religions are available.
NB. the religious reference in this message does not necessarily indicate that i am a christian 🙂
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