Richard ToutounjiDirector, Meet Your Network · Connecting fitness & wellness suppliers to our marketing community.

The art of ricing your prices 💯

1 Feb 2023 · 1 min

Watch on YouTube

0:34

In this brief instructional video, the presenter outlines a simple, repeatable approach to raising prices for a business. He identifies two optimal periods in the calendar—January (start of the calendar year) and June/July (start of the financial year)—as natural moments to adjust rates. He advises against large, abrupt hikes; instead, he recommends modest, regular increases such as a 3% annual rise or a flat $1‑$5 bump. The presenter also stresses the importance of notifying clients in advance via a letter, thereby maintaining transparency while implementing the new pricing.

Chapters

All right, this is gonna be the shortest video on how to take your prices up. There's 2 times in the year that it's so simple to take your prices up, and this is, uh, start of the year, January, and in financial year, June, July. Now, if you haven't taken your price up for a long time, or if you haven't taken your prices up since last year, now's a very simple time to take your prices up. It doesn't have to go up dramatically. If you keep taking your price up every year, you can set a CPC increase of 3%, or you can say prices are going up a dollar. $5, and you put a letter out, you tell your clients they're going up, and then you take the prices up.