I was reading an article in the paper this morning about the Tooth Fairy. (No, I haven’t lost any teeth recently!) Did you know a recent survey showed the average kid is getting $3 per tooth these days? Some parents were reporting leaving $20 under the pillow for each tooth. $20! I won’t even tell you what the going rate was when I was a kid.
What would you have guessed kids get for a tooth these days? I would have said a loonie, or maybe a toonie. But you know what? It doesn’t matter what I think the Tooth Fairy leaves – the reality is the Tooth Fairy average is $3, whether I think it’s high or not.
Your pricing may work the same way. The going rate may be higher than you think it is – whether or not you think your price is fair, you could be getting a lot more money. And if your expenses are low, then all the better. That’s more profit for you.
I see over and over again that contractors are reluctant to charge the full going rate for their services. Don’t fall into that trap. Don’t be shy with your pricing – don’t you want more money under your pillow?
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