Welcome back to Built for the Trades! In this episode, we dive into one of the most challenging yet essential topics for business owners—raising prices without losing customers. As costs rise across the board, it’s crucial for service businesses to adjust their rates to stay profitable. But how do you make this transition without scaring off your loyal customers? We’ll discuss practical strategies, how to communicate effectively, and how to maintain your customer relationships while increasing your rates.

Discussions

• Why Raising Prices is Necessary: As costs continue to rise, it’s crucial to adjust your pricing to maintain profitability and ensure your business thrives long-term.

• Communicating Price Increases with Confidence: By clearly explaining the value behind the price change and offering advance notice, you can maintain trust while raising your rates.

• Gradual Adjustments and Customer Retention: Start with small price increases to help customers adjust and focus on retaining those who appreciate the quality of your 

• service over the lowest price.

Raising prices isn’t just a matter of adjusting numbers on a spreadsheet—it’s about positioning your business for long-term growth and sustainability. Be transparent, stay confident in your value, and remember that some customers may leave, but they’re making room for better clients. For those ready to take the next step in leveling up their business, I encourage you to book a coaching session with me to dive deeper into growing a profitable service business.

Thanks for tuning in—don’t forget to like, subscribe, and share this episode with fellow business owners who need to hear this!

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