As a pet business owner—whether you're a pet sitter, a doggie daycare owner, or a dog trainer—it's crucial to recognize the true value of your work and set prices that reflect that worth. In 2024, the pet industry is booming, and there's no better time to ensure your pricing strategy not only sustains your business but also allows it to thrive.
The Pricing Dilemma: Why It's Hard to Charge What You're Worth in the Pet Industry
I hear it all the time from clients, students, AND fellow pet business owners in our communities:
"Am I charging enough for my services?"
It's a question that plagues both new and seasoned pet business owners. Setting your rates can be intimidating, but it shouldn't hold you back from establishing the pricing structure that will support your business's long-term success.
If you're struggling with pricing, you likely fall into one of three categories:
You're a giver at heart and want to support your clients in every way possible, even those who have a limited budget but need your services.
You're shy about selling your services and worry about seeming too expensive. You want to avoid conflict or don't feel assured about promoting a higher-tiered service.
You don't know where to start when it comes to setting your prices.
Does any of this sound familiar? If so, the challenge you're facing isn't just about the numbers—it's about confidence and how you position your brand in the market. As brand and website designers, Pet Marketing Unleashed talks A LOT about how branding can translate into pricing. A higher-quality, professional luxury brand can definitely charge more than a clip-art discounted brand (in general).
Strategic Tips for Setting Pet Business Service Prices
When setting your prices, consider your income goals, operating expenses, and the number of hours you're willing to work each year. Remember, your business should work for you, not the other way around.
While keeping those things in mind, I want to address the core issue. Here are four strategic tips to help you price your services confidently and effectively:
1. Higher prices are typically associated with higher-quality service and value
In 2024, consumers are more discerning than ever, especially millennials, who make up the largest group of pet owners. They value quality, authenticity, and expertise. Setting higher prices can position your business as a premium service provider, attracting clients who are willing to pay for top-notch care.
Think about it: Do you want to be known as affordable or exceptionally valuable? Your ideal clients will appreciate the value you provide and will be willing to invest in your services as a result. Especially if you consider the extra value you bring to the table - be it specializing in senior dogs, dogs with medical needs, leash-reactive dogs, etc. By specializing and niching down, you're able to offer higher prices and a higher-specialized service that is worth the extra cost.
2. Lower rates can lead to longer hours, burnout, and unhappy clients
Undercutting your competition may seem like a quick way to attract clients, but it can backfire quickly.
You’re setting a precedent. Your clients will expect you to be available when they want to be, and that’s harder to do when you have more than you handle. Without a growing income, you will make up for that by taking on more clients than you can handle. I’ve seen this happen so many times! And when you're constantly overworked, the quality of your service suffers, and so does your reputation.
Competition can feel steep, especially in such a saturated market, so many business owners think that they will stand out if they have the lowest price. That’s totally false!
Instead, focus on delivering exceptional value at a price point that reflects your expertise. Your clients will respect your pricing and will be more likely to return and refer others.
3. Pricing strategically will allow you to scale your business faster
As your business grows, you'll want to reinvest in it—whether that's by hiring your first pet sitter, dog walker, photo editor, or dog trainer, investing in new tools, or expanding your services. Setting your prices too low can stifle this growth, making it difficult to scale effectively.
By pricing your services appropriately, you'll have the resources to invest in your business's future, allowing you to take on more clients and provide even better service.
Not only that, but you want to make sure the investments you're making are worth it for the long-haul. Quality contractors or employees will only stick around when they’re paid what they're worth, too.
4. Annual (or regular) price increases are recommended
In an ever-evolving industry, staying competitive means regularly evaluating and adjusting your prices. As your business expands, your costs will increase (and cost of living), and so should your rates. Don't be afraid to raise your prices annually—your clients will understand, especially if you're consistently delivering excellent value.
Remember, pricing is as much about mindset as it is about strategy. If you believe in the value you provide, your clients will too.
None of these will work though if you aren’t confident in what you’re offering. Pricing your pet services is such a mind shift. If you ACT like you’re worth a million bucks, and you provide that awesomeness people want, YOU will make more money. Your clients can sense your confidence, and when they do, they won’t question your rates.
Why?
Because they trust you, they respect you, and they value your help.
Shift Your Mindset and Grow Your Business
If you're still feeling unsure about raising your rates, you're not alone. Many business owners struggle with the confidence needed to make these decisions. To help you shift your mindset, here are a few resources that were invaluable to me when I first started my business, Pet Marketing Unleashed:
You Are a Badass by Jen Sincero
6 Reasons Why Discounting is Destroying Your Sales (And What to do Instead)
4 Mindset Shifts Essential for Success - words from my amazing past business coach.
I also have a great resource where I posted the key takeaways I learned from my interview with Veronica Boutelle from dog*biz on Pricing and Policies That Promote Freedom and Success.
Ready to take the next step and increase your rates? Check out our FREE rate increase email template!
Download our free email template designed specifically to help pet business owners raise their rates confidently and effectively. This template will guide you in crafting the perfect message to communicate your value and new pricing to your clients.
*Disclosure: Pet Marketing Unleashed is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.
