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H2GoKent

  • Posts: 532
Bank of England inflation calculator
« on: March 28, 2022, 11:11:50 am »
This is worth looking at. If you're not putting your prices up regularly you're ripping yourself off.
https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator


Quite good fun to play on as well.
A manager is generally someone who has been promoted to the position by someone else who didn't see them as a threat.
Hence all people are promoted to the level of their incompetence

lal

  • Posts: 1112
Re: Bank of England inflation calculator
« Reply #1 on: March 28, 2022, 11:59:23 am »
This is worth looking at. If you're not putting your prices up regularly you're ripping yourself off.
https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator


Quite good fun to play on as well.


Very Handy to keep an eye on our prices. 👍

Spruce

  • Posts: 8462
Re: Bank of England inflation calculator
« Reply #2 on: March 28, 2022, 12:09:48 pm »
This is worth looking at. If you're not putting your prices up regularly you're ripping yourself off.
https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator


Quite good fun to play on as well.

It's also more interesting to look at inflation backwards. If you kept the same price of a £15.00 house clean since 2005 your customer would in fact be paying £10.25 with today's currency value.
Success is 1% inspiration, 98% perspiration and 2% attention to detail!

The older I get, the better I was ;)

NWH

  • Posts: 16952
Re: Bank of England inflation calculator
« Reply #3 on: March 28, 2022, 12:36:28 pm »
Blimey that’s an eye opener

Arnold Palmer

  • Posts: 20777
Re: Bank of England inflation calculator
« Reply #4 on: March 28, 2022, 12:44:13 pm »
LOL.

2.8%

ian1965

  • Posts: 172
Re: Bank of England inflation calculator
« Reply #5 on: March 28, 2022, 03:21:23 pm »
Crikey that is an eye opener Wish I hadn't looked at it now!

Stoots

  • Posts: 6211
Re: Bank of England inflation calculator
« Reply #6 on: March 28, 2022, 07:09:21 pm »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

NWH

  • Posts: 16952
Re: Bank of England inflation calculator
« Reply #7 on: March 28, 2022, 07:59:01 pm »
Yes Stoots but think what you could be earning now.

dazmond

  • Posts: 23966
Re: Bank of England inflation calculator
« Reply #8 on: March 29, 2022, 07:15:27 pm »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

So true....speed and efficiency get better over time as well as more compact work.....

To find another £50 or £60 a week to keep up with the current high inflation rate  is so easy in this game....

Put your prices up occasionally yes but it's just not possible every year....
price higher/work harder!

Mike Burd

Re: Bank of England inflation calculator
« Reply #9 on: March 30, 2022, 05:24:12 am »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

So true....speed and efficiency get better over time as well as more compact work.....

To find another £50 or £60 a week to keep up with the current high inflation rate  is so easy in this game....

Put your prices up occasionally yes but it's just not possible every year....
Doing more work to stay the same is NOT keeping up with inflation.

H2GoKent

  • Posts: 532
Re: Bank of England inflation calculator
« Reply #10 on: March 30, 2022, 06:56:12 am »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

So true....speed and efficiency get better over time as well as more compact work.....

To find another £50 or £60 a week to keep up with the current high inflation rate  is so easy in this game....

Put your prices up occasionally yes but it's just not possible every year....
I tend to put mine every 18-24 months. Then you can say it hasn't gone up in nearly 2 years and I will hold this price for around 2 years. Gives people certainty.
The answer to inflation is not finding more work, but increasing your prices regularly to keep pace with it.
Only 20% of people buy on price alone, and personally I do not want those customers, they'll have you working to death for nothing.
A manager is generally someone who has been promoted to the position by someone else who didn't see them as a threat.
Hence all people are promoted to the level of their incompetence

Mike Burd

Re: Bank of England inflation calculator
« Reply #11 on: March 30, 2022, 07:04:05 am »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

So true....speed and efficiency get better over time as well as more compact work.....

To find another £50 or £60 a week to keep up with the current high inflation rate  is so easy in this game....

Put your prices up occasionally yes but it's just not possible every year....
I tend to put mine every 18-24 months. Then you can say it hasn't gone up in nearly 2 years and I will hold this price for around 2 years. Gives people certainty.
The answer to inflation is not finding more work, but increasing your prices regularly to keep pace with it.
Only 20% of people buy on price alone, and personally I do not want those customers, they'll have you working to death for nothing.
Are you Mick Kent?

zesty

  • Posts: 2452
Re: Bank of England inflation calculator
« Reply #12 on: March 30, 2022, 07:33:32 am »
It’s a bit of an enigma when it comes to window cleaning, there is such a huge range of prices, and most of us won’t have consistent prices, i.e I’ve got houses the same size that pay different amounts.

Inflation and window cleaning price isn’t really of much significance. It’s too random. We just charge what we feel is fair, if we’re happy with that, inflation is irrelevant in terms of the price.

Obviously prices do need to go up every now and then.

I’ve got customers who I quoted say £25 for 8 years ago, and it’s still overpriced now, yet they pay it…

It’s not binary in this game, unlike food and drink, we have a huge range of pricing across our rounds.




NWH

  • Posts: 16952
Re: Bank of England inflation calculator
« Reply #13 on: March 30, 2022, 09:14:41 am »
Spot on Zesty although I know someone that’s lost a couple and he told me blimey it’s been 50 for 10 years,I think some people could think hang on he’s not needed to put it up for 10 years was he ripping me off originally.

H2GoKent

  • Posts: 532
Re: Bank of England inflation calculator
« Reply #14 on: March 30, 2022, 04:23:47 pm »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

So true....speed and efficiency get better over time as well as more compact work.....

To find another £50 or £60 a week to keep up with the current high inflation rate  is so easy in this game....

Put your prices up occasionally yes but it's just not possible every year....
I tend to put mine every 18-24 months. Then you can say it hasn't gone up in nearly 2 years and I will hold this price for around 2 years. Gives people certainty.
The answer to inflation is not finding more work, but increasing your prices regularly to keep pace with it.
Only 20% of people buy on price alone, and personally I do not want those customers, they'll have you working to death for nothing.
Are you Mick Kent?
I have no idea who that is
A manager is generally someone who has been promoted to the position by someone else who didn't see them as a threat.
Hence all people are promoted to the level of their incompetence

Mike Burd

Re: Bank of England inflation calculator
« Reply #15 on: March 30, 2022, 04:26:18 pm »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

So true....speed and efficiency get better over time as well as more compact work.....

To find another £50 or £60 a week to keep up with the current high inflation rate  is so easy in this game....

Put your prices up occasionally yes but it's just not possible every year....
I tend to put mine every 18-24 months. Then you can say it hasn't gone up in nearly 2 years and I will hold this price for around 2 years. Gives people certainty.
The answer to inflation is not finding more work, but increasing your prices regularly to keep pace with it.
Only 20% of people buy on price alone, and personally  I do not want those customers, they'll have you working to death for nothing.
Are you Mick Kent?
I have no idea who that is
No then. ;D

Stoots

  • Posts: 6211
Re: Bank of England inflation calculator
« Reply #16 on: March 30, 2022, 04:30:11 pm »
It’s a bit of an enigma when it comes to window cleaning, there is such a huge range of prices, and most of us won’t have consistent prices, i.e I’ve got houses the same size that pay different amounts.

Inflation and window cleaning price isn’t really of much significance. It’s too random. We just charge what we feel is fair, if we’re happy with that, inflation is irrelevant in terms of the price.

Obviously prices do need to go up every now and then.


I’ve got customers who I quoted say £25 for 8 years ago, and it’s still overpriced now, yet they pay it…

It’s not binary in this game, unlike food and drink, we have a huge range of pricing across our rounds.

Very true, i have some that have never gone up and still they are way over priced, ive also got identical houses  one that take 5 mins the other 10 mins and the price is the same. Its  more the day rate that counts to me, i win some and i lose some on each house but at the end of the day it all adds up to a nice whack.

Perfect Windows

  • Posts: 4179
Re: Bank of England inflation calculator
« Reply #17 on: April 03, 2022, 10:05:40 pm »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

And if you'd put your prices up you'd now be turning over a sixth more than you currently are. I can't begin to imagine why you wouldn't do it.

lee_dewing

  • Posts: 3120
Re: Bank of England inflation calculator
« Reply #18 on: April 04, 2022, 11:33:40 am »
H2GOkent

Good link

I came across this a while back and used it on grossly under priced jobs
 A handful

I’m differing on doing everyone
I do feel sticking your head above the trenches may result in firing squad

As  of rising cost of living 🤦‍♂️

Just my opinion 🙆🏻‍♂️
Pleasure in the job puts perfection in the work.     - Aristotle

Stoots

  • Posts: 6211
Re: Bank of England inflation calculator
« Reply #19 on: April 04, 2022, 06:12:15 pm »
my average prices are still about £12 which is what they were in 2015! they should be £14 now apparently, funny thing is i earn way more money than back then so its not all about pricing, speed and efficency play a big part.

And if you'd put your prices up you'd now be turning over a sixth more than you currently are. I can't begin to imagine why you wouldn't do it.

I put half my round up last year and the other half the year before. Only £1 per job though....

Fear plays a big part lol, but I might just do it again been considering it lately.