A practitioner getting five leads daily with a 25% close rate and $7,000–$10,000 average ticket. Mike Andes says raise prices 20% to hit 50% close rate and double profits without taking more clients.
How often do leads come in?
I might see five clients a day.
Why have you not raised prices? This is like screaming to raise prices.
I don't know. I.
What's the average ticket size? On average. And we do everything from 70,000. Yeah, well, we carry a minimum of.
2,500 bucks no matter what.
Really? Okay.
Honestly, like.
Okay, between.
Seven and $10,000 is an average ticket price.
Okay. Okay. Okay. Two, three years. It's 90% project. Oh, yeah. Okay, so you still have lead flow. Your clues on ratio must be really low.
It.
I happen to believe if you raise price by 20% across the board, every single thing to give a spreadsheet or however, you just raise across the board 20% and then everyone here gets organized and you start simplifying services. Jobs get done on time. Because now we're doing the same three or four things all the time. If that happens, you will book out further, you'll get more jobs accepted, and our close ratio will slip from what I believe is 25 to 30% to 50%, while raising our prices by 20%, which will double our profits.
