I'm Raising My Prices!

Business By ccr03 Updated 26 Mar 2008 , 8:10pm by TexasSugar

ccr03 Posted 25 Mar 2008 , 2:23pm
post #1 of 8

So I've decided that I am going to raise my prices. I had been thinking about this for a while and decided that a 10-15% increase is very reasonable and still keeping me competitive in my key market, so I'm not worried about that. I figured this would overall cover the increase in ingredients and pay me more for my time as well.

I do have a question, should I notify my current customers that my prices are going up - like with either an email or a simple notice on my web site? Or should I just not say anything?

7 replies
Erdica Posted 25 Mar 2008 , 4:28pm
post #2 of 8

I've been thinking about this too. With everything going up, it's hard on the profit margin. And I'm not doing this for free. I've been going back and forth on when to do it. But if gas really does get up to $4/gallon and flour is going up too....I won't have much choice.

I don't know about emailing clients. I think I probably would. Would be interested to hear other thoughts.

GL!

mkolmar Posted 25 Mar 2008 , 9:35pm
post #3 of 8

Check out Indydebi's site. She has it stated on hers and it is well worded.
I've already increased mine slightly but may have to do it again if prices raise more for eggs, flour and gas since I deliver all of my items.

TexasSugar Posted 26 Mar 2008 , 12:10am
post #4 of 8
Quote:
Originally Posted by ccr03

I do have a question, should I notify my current customers that my prices are going up - like with either an email or a simple notice on my web site? Or should I just not say anything?




I would definetly put a notice on your website about the increase.

As far as notifying your current customers are you talking about ones that already have an order with you at the moment or ones that may be placing some in the near future?

With any orders that are already made and prices discussed I would leave those as is. You can always type up a little notice to stick on their cake box to let them know of the increase.

I'm not sure I'd do a mass email though to let them know that you have increased. A big part of me says just wait until they order again. If they are loyal customers I'm sure they will understand.

funbun Posted 26 Mar 2008 , 12:50am
post #5 of 8

I raised my prices at the beginning of the year and I added a new price list to each order I did until the end of Feb. Most of my customers didn't even notice a change. icon_wink.gif
I also added a coupon on the back of each price list that said I would pay the taxes on their easter and spring cakes if they ordered and paid by March 22nd, 2008.
I had over 50 of these coupons come back with orders!

ccr03 Posted 26 Mar 2008 , 5:24am
post #6 of 8

thanks for the responses. I think i'll just add something on my site.

I do remember seeing something on indydebi's site. I'll have to check that out again.

TexasSugar, I wouldn't think of raising already made orders. That's just wrong. I was thinking of orders from here on out. And good idea about including a small note on the box.

Thanks for the ideas!

Erdica Posted 26 Mar 2008 , 11:01am
post #7 of 8
Quote:
Originally Posted by funbun

I raised my prices at the beginning of the year and I added a new price list to each order I did until the end of Feb. Most of my customers didn't even notice a change. icon_wink.gif
I also added a coupon on the back of each price list that said I would pay the taxes on their easter and spring cakes if they ordered and paid by March 22nd, 2008.
I had over 50 of these coupons come back with orders!




Great idea! Thanks for sharing that. It was very, very informative.

TexasSugar Posted 26 Mar 2008 , 8:10pm
post #8 of 8
Quote:
Originally Posted by ccr03

TexasSugar, I wouldn't think of raising already made orders. That's just wrong. I was thinking of orders from here on out.




I didn't think you would. Just checking. icon_wink.gif

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