Prices rise, it’s a basic rule of economics! However, breaking the news to your clients that you are going to be charging more is never easy. As a rule of thumb, a good time to put prices up is either at the start of the new year or the start of the financial year. If you are not able to offer extra services as part of your price increase, write a short letter to your clients explaining that you value their business but that the rising costs of running your business require you to adjust your prices accordingly. Invite anyone who has a problem with this to get in touch and remind your clients how much you value their business and appreciate their understanding.
