Price Your Services For Profit
When deciding how much to charge for services there is much to consider.
If done incorrectly you risk alienating your loyal clients with unnecessary price hikes or hurting your bottom line by not charging
enough to cover overheads.
We are all in business to make a profit, if you are thinking of raising prices here are a few points to consider:
• Understand your costs – know how much a service costs for you to perform and add your profit.
• Ensure that when you raise prices it reflects the quality of service and experience your clients can expect to receive.
• If you raise prices, select a few services at a time rather than increasing all prices across the
board. Raising all your prices at once could be difficult for clients who utilize multiple modalities.
• Give your clients a 4-6 weeks’ notice period whenever you make changes to your prices.
If done correctly, increasing your pricing should not have a negative impact on your business.