Episode Details

When did you last properly review your prices?

In this episode, Vicky continues her P.R.I.C.E Framework series by focusing on the second stage: R – Review.

Your prices shouldn't be something you set when you start your pet business and then forget about. Your costs change, your experience grows, your service improves and the amount of time involved in delivering that service can change too.

So why would your prices stay the same?

Vicky explains why regularly reviewing your business is essential — and why a pricing review doesn't automatically mean putting your prices up. It's about understanding what it genuinely costs to provide your service, what value you're delivering and whether your current prices still make financial sense.

In this episode, she covers:

• Why your pricing should evolve alongside your business
• How to calculate the true time involved in delivering your services
• Reviewing your increasing costs and overheads
• Understanding your profit margins rather than simply looking at revenue
• How improvements in your service can increase its value
• Why your market positioning should influence what you charge
• The importance of attracting clients who value what you offer

As your experience, reputation and service improve, the business you run today may be very different from the one you started.

The question is: have your prices evolved with it?

Key Takeaways

• Pricing should be regularly reviewed rather than treated as a fixed figure.
• Increasing costs can gradually reduce your profit if your prices remain unchanged.
• Understanding the true amount of time required to deliver a service is essential when reviewing pricing.
• Revenue alone doesn't tell you whether a service is genuinely profitable.
• Improvements in your experience and service can increase the value you provide to clients.
• Reviewing your pricing doesn't always mean increasing it — it means making an informed decision based on your numbers and value.

💳 Podcast Sponsor – Lopay

This episode is proudly sponsored by Lopay, the low-cost payment platform that helps small businesses keep more of the money they earn.

Find out more about Lopay and how it can support your pet business here:

👉 https://merchant.lopay.app/ref/thepetaccountant2000

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If you’re serious about growing your pet business, you need to be in the room.

👉 https://www.petproexpo.co.uk/

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To find out how Vicky, Lee, and the team can help your pet business grow. 🐾