I do not like to charge my clients more currency for repairs and upgrades, but it looks like I am going to need to raise prices for the first time in 3 years.
I have not raised prices at all since before the pandemic. Everyone knows that times are tough. I have been doing my best to keep prices low so we can continue to be profitable, unluckyly, the warehome where I buy all of my device and parts is going to raise all of their prices on the 1st of the year. In 60 days, I am going to be paying 3% more across the board for every part and piece of device that I ordered from the heating and A/C warehouse. There aren’t any other locations for me to order the device either. This location is the only heating and A/C parts warehome on the East Coast that offers next day delivery for free. I know that I am going to have to pay for the extra fees and that 3% is going to hurt. 3% of my device and parts bill at the Heating, Ventilation and A/C business is legitimately equal to $1,000 a month, and over time, that will add up and actually put a dent in my budget if I do not figure out a way to cut costs in other locations. I’m going to need to raise my prices or my profit will be razor thin. If I have to pay more, my clients are going to have to pay more too. I do not see any other way around it and I have been thinking about it all week.