John's point about it being good having competitors who are charging high end prices is spot on. Other than a couple of fine gents from these forums who are local to me, most of my competition is from 3 x local Chem-Dry franchises (Durham, Sunderland and West Durham based), as well as a 'Bone-Dry' franchise, and a 'Zero Dry Time' franchise.
The vast majority of my new business (non existing customers) come to me after having called these competitors. I try to give a service and brand my business in a franchise 'style' but with 10-20% reduction in prices, due to my lower overheads. I still consider my pricing medium to high end.