Prior to attending the “Pricing For Profit” workshop my company was doing a lot of warranty electrical work. As I proceeded through the program, and with encouragement from you and the other attendees, I decided to raise the prices on this work substantially.
I raised prices for warranty work by twenty percent. Although the amount of work we now receive from these customers has been reduced as a result of the increase, we are earning more net profit from them in absolute dollars. At the same time, the reduced workload has freed my crew to take on additional, higher margin work from other customers.