> My suggestion is to increase your fees a small amount every year, or so, > instead of trying to catch up once every 5 years. First of all, you are > loosing money if you wait more than 2 years. And second, your customers will > not be too upset with you if you went from $75 to $80. But they will balk if > you told them the new price is $90, even though if you had raised your fee $5 > very year, that is what you have been charging by now. > > Wim This is a good point Wim, I review my prices every 2 years, next review May 2000. Another way to go is to index the tuning rate to the inflation / cost of living index. My superannuation fund works this way, generally small (2 to 3%) adjustments each year to keep pace with the general cost of living. BTW, My standard tuning fee is NZ$78 including GST of $8.66 (12.5%). This is about US$40 based on the current exchange rates, so do you think I should raise my rates, :^) Graeme Harvey New Plymouth NZ
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