How to Handle the Increasing Costs of Running Your Pet Sitting or Dog Walking Business
We are all feeling the pinch of increased costs everywhere in our lives these days and our business is no exception! In fact if anything, it’s even tougher in business.
Fuel, office supplies, subscriptions and even wages are on the up.
So what do you do?!
Take a deep breath and know you can handle it.
How to Handle the Increasing Costs of Running Your Pet Sitting or Dog Walking Business
Accept that increases in costs are a part of running a business. This is something to take into consideration when you set your prices.
You need a good understanding of your running costs and how increases in those costs affect your profit margins.
And don’t worry if you’ve not considered it in detail before – you can start now!
#1. Plan to review your costs and profit margins regularly
You can do it monthly, quarterly, or annually.
You don’t have to change your prices every time, but having a good understanding on a regular basis will help you act in plenty of time when you need to.
#2. Don’t be Afraid to Raise Your Prices
It’s scary, I know! And you may think you’ll lose all of your clients if you do.
You may lose some, but if you don’t increase your prices to cover costs and give the profit you need, you’ll end up losing your whole business.
Don’t feel bad about it. Customers may not like it, but your ideal customers will understand.
#3. Communicate Price Changes Positively
When you write to your customers to let them know about cost increases keep it factual and don’t be overly apologetic.
Let them know all the ways that the increase will enable you to keep delivering the excellent service you do.
#4. Give plenty of notice
Give your customers plenty of notice to budget for the price increase.
You may want to have a policy on this so customers know they’ll always have time to budget for any increases and aren’t afraid they won’t be able to afford services they already booked.
And be sure to include the policy in your new customer onboarding process and your blogs and eBooks for prospective customers.
#5. Keep talking to the customers who CAN afford your services
Remember that your services are NOT for everyone and keep talking to your ideal customers in all of your marketing.
Your ideal customers can afford you. Even when you increase your prices.
And when you keep talking to them, you attract more of them and they’ll help replace any you lose when you increase your prices.
