Hi,
Just doing my accounts for last financial year, a bit late I know. One thing I
have found is my expenditure has gone through the roof which was predictable
with the purchase of WFP. I did not pass this onto my customers as I thought
the quickness of WFP would recover the costs.
I am earning a lot more money but my pockets are still empty, I saved more
last year than this year.
One thing that has struck me is one huge cost, petrol. Did a few calculations
and it is costing me £453 extra this year in petrol based on the same mileage
as last year. And this will probably increase throughout the year with the
current problems.
One thing I need to do now is look into how I can recover these costs, so it
means putting prices up. Also a good idea from Trevor Knight is having a min
charge, seems stupid driving to house charging £4.50 when it will cost you
around £1 - £2 in petrol to get there ( Includes collecting ). Alternatively
dump them which is the last thing I want to do. I would have to put my prices
up by 20% which is a big hike.
All seem good ideas but with current conditions with petrol, gas, electricity
going up customers will soon be looking into how to save money. One thing
that will be hit is us.
Have any of you guys found that your overheads have increased, if so have
you absorbed the costs or do you put your prices up regularly.
Your thoughts please.
Cheers
Doug