I sell my homemade candy and cake truffles at 2 farmers market. And I am wanting to raise some of my prices, one being a very popular item (lol could me cuz the price is so low!)
How do you handle raising the prices? Epecially with regular customers?
I recently raised my cake truffle prices and no one even batted an eye and were competley fine with it.
Do you think it will be this way for everything??
Every business in the world raises their prices periodically. There's no need to "handle" a price increase; just do it. Have you looked in the market lately? Prices go up every day. And that contributes to our cost every day. Why should we be the ones to stay static when we depend so much on those market prices? And you don't see Nabisco wondering how to "handle" their price increases, do you?
The good thing is that nothing is permanent. If you find you've gone beyond what the market will put up with, you can just lower your prices again until folks stop batting those eyes.
Thats what I was thinking, but i have one of those hubbys who liek to "suggest" prices for me when hes not doing any of the actual work!
simple answer when asked why:
my costs have gone up.
I don't tell them anything............most people don't know the difference and the ones that say "oh wow, you quoted me $.50/serv. less for that cake 3 months ago...." I say......yeah, my eggs, flour, gas, etc. were cheaper 3 months ago too.......then we both have a good chuckle and I move on and give them a new quote. Anyone that placed their order BEFORE the price increase remained the price quoted (if they had already put down a deposit, etc. and were put on my schedule) anyone just calling for prices but not on the schedule........they pay the increase.
I don't make a formal announcement, I just raise them and start quoting the new prices. It's funny when i'm looking at upcoming orders and going...what??/ I'm only charging $60 for this cake???? Then I thank God that I finally raised my prices!! lol
ok thanks everyone!!