When did you last change your prices?

When did you last change your prices?

For a lot of owners, the honest answer is "a few years ago." Since then, rent went up, insurance went up, wages went up, and so did the software and the card fees. The price on the menu or the quote sheet stayed where it was.

Nobody decided that. It just never came up, because raising prices feels risky and there's always a busier week to do it.

Before you set next year's numbers, take an hour: List your top ten products or services. Write down what each one costs you to deliver today, not three years ago. Check what you charge against that. Pick a date each year to review it, the same way you renew insurance.

Most customers expect prices to move a little. What surprises them is a big jump after years of nothing.

Sentient Partners: your local business and technology partner. sentientpartners.ai