Tip 52) The bottom line impact of increasing your prices!

Many business owners and sole traders are really worried that they will lose clients if they increase their prices. If this sounds like you, hopefully, the following will help: 
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• If your present profit margin is 25% and you increased your prices by 10%, you could lose 29% of your sales, and still be making the same amount of profit!

• If your profit margin is 25% and you increased your prices by 20%, you could lose a whopping 50% of your sales, and still be making the same amount of profit! 
• If your profit margin is 40% and you increased your prices by 25%, you could lose a whopping 38% of your sales, and still be making the same amount of profit! 
• If your profit margin is 50% and you increased your prices by 30%, you could lose a whopping 40% of your sales, and still be making the same amount of profit! ​

The core purpose of business has to be to make a profit, so it makes sense to aim to make as much as you can for as little effort as possible!

Happy profit-making! 

Jo x

P.S. As always, if you need help, either pop along to one of our online Mastermind sessions or contact me for a 1-2-1.​