Mike Andes shares how a franchisee at Augusta Long doubled prices overnight during COVID and lost only four customers out of 30-40. The lesson: once you prove value, customers stick around even after big price hikes.
A little heart to heart with Mike, because a lot of people are saying that the prices that we are giving are really, really low. And you're 100% right. And let me tell you a little story. We had a franchisee at Augusta Long here that for the life of him, could not get his close ratio above 20%. Now, he did not believe that one day he could just magically wake up and raise his prices on customers and that they would stay. So for a year, he got up to like 30 or 40 mowing customers, and then he got Covid, and in one week, he doubled the prices on all of his customers. And guess what? Out of those 30 or 40 custom only four left. And he literally doubled the total price to those customers. But at the very beginning, customers don't know how awesome you are. They don't know how much good customer service you have, and they don't know how much better you are than the competition. So get them in the door, prove how amazing you are, and then they won't leave you even when you do raise prices.
