What are your Competitors Charging?
As well as considering your costs, you’ll also want to think about the competition. Researching your competitors’ pricing will help in two ways. Firstly, you’ll be able to get a better understanding of what your potential clients are willing to pay for similar services. We suggest making a spreadsheet of the businesses and adding in their prices as this will help you average out the going rates. You also need to take into consideration their experience as the longer they have been in business and actively carrying out their roles generally they will be charging more. When researching your competitors you must make sure you focus on local businesses that provide the same services as you will also need to factor in the amount of businesses offering the same service as you. Taking a look at your competitors will also help you price… competitively. As a new petpreneur in the market, you might want to consider pricing on the lower side of your competition to make your rates and services seem more desirable to cost conscious pet parents while you build your client base.