photo credit: Medmoiselle T
In todays economy it is definitely tough times for business’ everywhere especially small business’. So how do you go about keeping your customers from having to share your burden of increasing fees from say your vendor’s, bank’s, credit card machine companies and more?
Entrepreneur.com suggests that at some point it may be inevitable to add fees that will reach down to your clients, if this is the case, make it known to your customer’s what the fees are and why they are being added to merchandise.
Make sure you explain that you are just not increasing the price of an item just to make more money, explain that it comes higher from you and in order for you to stay in business and continue to serve them, it is necessary for you to increase your price.
Have a good explanation for your customers as to why you’re doing it. Most customers are feeling the same pain in the marketplace with the increasing cost of food and energy, and I think they’ll be sympathetic.
How do you handle your increases in fees?