February 29, 2024

You’re the Boss: Why Is It So Hard to Raise Prices?

Naomi Poe, founder of Better Batter Gluten Free FlourJeff Swensen for The New York Times Naomi Poe, founder of Better Batter Gluten Free Flour
Today's Questions

As today’s small-business guide to pricing makes clear, a lot of small-business owners are reluctant to raise prices — sometimes even when they are losing money on every sale. Naomi Poe, who founded Better Batter Gluten Free Flour, initially priced her product to compete with nongluten-free competitors even though her costs were higher than theirs. Eventually, she decided to increase her prices and found her customers were encouraging.

Have you tried to raise prices? What has your experience been?

Article source: http://feeds.nytimes.com/click.phdo?i=725271f4500f26885c5fabaa91b66413

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