Raising Prices Calculator
The spreadsheet below is an active document that you can edit yourself. If you make a mistake or want to start over just refresh this webpage. NOTE: All cells shaded in red in columns B, C & D are cells that you input with your own information – everything else will automatically calculate for you.
To get started, input the name of your service in column B, as well as the current price that you charge in column c. Under “Avg # Services/Mo” in column D you will input the number of these services you do on average each month. The row below it is to input your anticipated additional # of services you will be doing in the future. If you do not see yourself increase the # of this service in the future just leave it the same as your current monthly # of services.
The differences that are displayed under “Monthly Revenue” & “Yearly Revenue” tell you what kind of additional money you would earn as a result of the price increase you put in. Play around with this handy spreadsheet to see what kind of money you could be making by increasing the price of some of your more popular services. You’ll be surprised at how small increases in just a few of your services will equate to thousands of dollars of additional income at the end of the year.
To download an Excel Spreadsheet with these formulas CLICK HERE.
Be sure to visit our other blog post titled “10 Steps to Raising Prices” that gives you helpful resources and best practices, as well as a sample letter for clients indicating your upcoming price increases.