• 006 - Outdated Pricing Tactics That Are Hurting Dog Businesses with Sherry Boyer

  • Apr 2 2024
  • Length: 24 mins
  • Podcast

006 - Outdated Pricing Tactics That Are Hurting Dog Businesses with Sherry Boyer

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  • Summary

  • Go to https://4dayprofitrace.com to get my FREE 4-DAY DIAGNOSTIC COURSE and be ahead of 90% of small business owners in the world!

    In episode 06, we’re going to talk about Outdated Pricing Tactics That Are Hurting Dog Businesses.

    Drawing on my experience building a 7-figure dog business, I have strong opinions on the pricing mistakes commonly made in our industry. Too many business owners are basing rates on outdated tactics from years ago or misguided feelings about what clients will pay.

    I cringe when clients undervalue themselves with lowball pricing like my own $25 per day daycare and $35 per night boarding rates back in 2007. That's practically giving services away! I was effectively sabotaging myself by charging the same $50 for an overnight or two full days of daycare.

    I remember I visited over 100 boarding kennels and based my rates on what others charged. However, soon enough I learned that the information I got from those visits was not reliable. Why? Because you have no idea if those places are even profitable or if they are just a hobby. Big mistake!

    When I finally realized my error and revamped my pricing structure to properly value overnight boarding, my revenues instantly tripled without more dogs. The right prices are that transformative!

    Yet I still see audiences full of dog professionals charging a measly $45 or less per night for boarding. That's less than a basic hotel room! As trained experts providing professional care and enrichment, our rates should be substantially higher.

    One boarding client went from $65 per night up to $210 PER DAY for in-home stays as she realized her true value. Shockingly, demand didn't stop - people happily paid premium prices for premium service and convenience.

    The fear of "pricing people out" is a mindset trap. We don't decide what pet owners will pay - THEY make that choice based on priorities and budgets. Our job is to confidently present our value and let clients self-select if it fits, not pre-judge for them.

    A keynote quote rocked my world years ago: "You could double prices, lose half your clients, and STILL make more money." Whoa! Are you afraid to lose the clients who don't value you appropriately? I'd argue those aren't the ones you want.

    That's why I stopped offering multiple dog discounts, an outdated relic from kennel days of packing multiple dogs into runs. If you're providing individual care and space per dog, why would you discount for more? You're working harder, not less!

    Listen to this episode if you want to escape the overworked, underpaid rut. Don't stay still or race to the bottom. Value-based pricing allows you to finally earn what you deserve while delivering an impeccable, sought-after experience.

    Remember! Go to https://4dayprofitrace.com/ to get my FREE 4-DAY DIAGNOSTIC COURSE and be ahead of 90% of small business owners in the world!
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