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Inflation Calculator


Richard

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Handy, yes, but you must always work your prices as well as beware of this.

 

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.

 

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.

 

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.

 

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.)

 

Richard

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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.)

 

Richard

 

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!

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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.

 

Richard

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  • 3 months later...

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