Inflation Calculator

Discussion in 'Managing Your Business' started by Richard, Jun 23, 2013.

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  1. Richard

    Richard Forum Addict
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  2. Oliver

    Oliver Well-Known Member
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    Nice one :Image14:
     
  3. Richard

    Richard Forum Addict
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    [SIZE=medium]Handy, yes, but you must always work your prices as well as beware of this.[/SIZE]

    [SIZE=medium]Averages 3.7% per year on the £pound, and this has been consistent for the past 30 years; so if your turnover is £30,000 last year – you must increase your prices by £1,110 the following year. Following year after this it would be another increase of £1,150.70p and the year after £1,193.64. So after 3 years your £30k turnover is (should be) now £33,454.34p. [/SIZE]

    [SIZE=medium]So for example if you 300 customers, average increase in the price for the first year per customer is £3.70 to maintain your current level of income. The idea of putting a pound on the price once a year means you are losing money. [/SIZE]

    [SIZE=medium]All of this just to keep up with inflation; much easier to do when you work your prices each week/month, at the same time you also think about actually having price increases.[/SIZE]

    [SIZE=medium]If you have read & understand my book ‘Winning at Window Cleaning, it explains how to work the price increases easily, so you don’t have to worry about the inflation rate (or devaluation of the £pound.)[/SIZE]

    [SIZE=medium]Richard [/SIZE]
     
  4. Oliver

    Oliver Well-Known Member
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    I am in the process of reading it, not had much time this weekend! will be very helpful tho I can see!
    I also fitted the duel trim hybrid brush to my Gardiner quick loq fitment today & looking forward to using it this week!
     
  5. OoO

    OoO Guest

    Pretty cool, my dad has got some customers who were £5 in 2001 and are still £5 today.
     
  6. Richard

    Richard Forum Addict
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    [SIZE=medium]I hope you like the brush Oliver; take you time with your prices, working your prices a little each week; each new customer is an opportunity to improve the round.[/SIZE]

    [SIZE=medium]Richard [/SIZE]
     
  7. Richard

    Richard Forum Addict
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    [SIZE=medium]All too easy Damo to get into the habit of not keeping on top of your prices, once you have got the customer on your round[/SIZE]

    [SIZE=medium]Richard[/SIZE]
     
  8. RealKidJoker

    RealKidJoker Active Member
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    Richard, do you sell your book in e-version or is it just paperback?
     
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