Establishing Pricing For Your Pet Business
Updated: Dec 20, 2019
Whether you’re a pet sitter, own a doggie day care, or operate another type of pet business, I want you to know that you shouldn’t hesitate to set your prices at a level you really deserve! Business owners in the pet industry typically wonder if they’re charging enough money for their products and services, regardless if they’re brand new or seasoned.
I hear this topic. All. The. Time!!
It’s totally intimidating to think about setting your rates, but it shouldn’t hold you back from taking a stand at the price point that will suit your business needs.
If you’re indecisive on setting your prices, you probably fall into one of three categories: you’re a giver at heart and want to support your customers in any way you can; you’re shy when it comes to selling your service, or; you just don’t know where to start.
Do any of those resonate with you? If they do, I can tell you that deciding on the numbers may not be your only issue. It’s a confidence and image issue, hands down.
When setting your prices, you have to consider how much money you want to make, how much your expenses are going to be, and how many hours you want to work in a given year.
Hey, you may be a business owner but you still deserve vacation time once in a while. You want to run your business, don’t let your business run you.
While keeping those things in mind, I want to address the core issue. Here are some general tips that I have to help you own your worth as a pet business owner.
1. Higher prices are typically associated with higher-quality service and more expertise.
You’d be shocked at what pet owners will pay for top-quality care for their pets, but you just need to know that you’re worth the price tag before other people do too.
Do you want to be known as affordable or exceptionally valuable?
Millennials in particular appreciate businesses that provide value, authenticity and quality. Remember that millennials are the leading generation of pet owners, while an estimated 85 million households in the US have a pet.
So, don’t fear higher prices because your ideal customers will actually value you more.
2. Lower rates lead to longer hours, burnout, and unhappy customers.
Pricing your rates below your competition can actually hurt your business. Lower prices will hurt your confidence, your self-worth, and keep you stuck.
You’re setting a precedent. Your customers and clients will expect you to be available when they want to be, and that’s harder to do when you have more than you handle.
Without a growing income, you will make up for that by taking on more clients than you can handle. I’ve seen this happen so many times!
It’s not a great marketing option, especially for pet services. Competition can feel steep, especially in such a saturated market, so many business owners think that they will stand out if they have the lowest price. That’s totally false!
Know your audience and design your services and marketing efforts to cater to their needs. They will come to you, and they won’t question your rates.
3. You’ll be able to scale your business faster and more efficiently.
There is a business cycle that basically goes like this: you earn money, then you spend money in order to make money. Then you’re ready to scale and increase your income even more!
Someday you’re going to want your first team member. Before you you know it, you’re going to need to keep hiring additional help. Quality employees will sign up and stick around when they’re paid accordingly.
You’ll also want to add on softwares, tools and other items to make your business top-notch.
See how this works? The best way to scale your business is by raising your prices. Then you’ll be able to afford outside help which will allow you to take on more customers.
4. Your current rates are holding you back.
Don’t be afraid to increase your prices each year. As you build your business and get more staff and the cost of living increases, you’ll need to match and exceed that.
None of these will work though if you aren’t confident in what you’re offering. Pricing your pet services is such a mindshit. If you ACT like you’re worth a million bucks, and you provide that awesomeness that people want, YOU will make more money and people will spend on you. Your customers can sense your confidence, and when they do, they won’t question your rates.
Because they trust you, they respect you, and they value your help.
How to Shift Your Mindset
If you’re still feeling uncertain about this topic, I’d love to provide some resources for you! These helped me about tremendously when I first started my business.
You Are a Badass by Jen Sincero
4 Mindset Shifts Essential for Success - words from my amazing past business coach.
And as always, if you’re looking for a little 1:1 support, I’m available! Contact me here.
*Disclosure: Pet Marketing Unleashed is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.