I got an email this morning from a pet sitting business owner I recently coached who raised her rates based on doing the numbers.
She realized she wasn’t making much money at all after paying expenses and taxes. Ooops!
When you realize you can work at McDonalds and get health benefits and make more money just walking in the door per hour than you can in your pet sitting business, something’s gotta change.
You need to increase your profit by cutting your costs and increasing your revenue. This usually comes in the form of raising rates.
Most get scared when doing this. Some even are so scared that they have never raised rates for 6 years! To move you past that fear and frustration, here are 6 things I want you to remember:
My Open Letter to Pet Sitters and Dog Walkers on Raising Rates:
Dear Pet Sitter:
Who runs your business? Who pays your bills and saves money from their hard working days? YOU not the client. So…
What you are feeling is natural. You have to remember a few things….
1 – You are making a business decision based on number and facts. You can’t work for free and you need to make money in order to stay in business. You can’t go off emotion.
2 – Expect that every single one is going to say something about the rates. It is all in how you word it. “Yes, the rate did go up $3 for you. actually, it went up $5 across the board, but since you are a long time/existing/loyal client, I gave you a $2 discount”
3 – Understand and accept that you will loose people but be OKAY with it! The new ones you sign will make up for it!
4 – Balance is key. Remember what we said. If you can’t afford to potentially lose a lot at once, wait until you have a bunch on the new rate and then look back and raise the rate. It is a balance that only you can feel out.
5 – You are not experiencing anything that any of us haven’t. The need to adjust rates happens many times throughout a businesses history. It is NECESSARY if you want to thrive in your business!
6- People who will not pay what you are worth (or what you NEED) are NOT your clients and you have to accept that. The more crystal clear you can describe your most perfect client the easier it will be for you to know if you are talking to them or not.
Always Keep Jumping,
Your Pet Business Coach!
TIP: If you want to see how you can mathematically arrive at your perfect price click here
- Should I List My Prices On My Pet Sitting Website? (jumpconsulting.net)
- Pet Sitting Consultation’s Secrete Weapon – The Brag Book! (jumpconsulting.net)