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Printable checklist
Pricing review checklist
A twice-a-year check that your prices cover your costs, keep up with inflation, and match what customers will pay.
Many small businesses keep the same prices for years while costs keep rising. Review your prices at least twice a year.
Know your numbers
- List the full cost of each main product or service: materials, labor (including your own time), fees, and a share of overhead.
- Check your margins with the gross margin calculator.
- See how far your prices have fallen behind with the pricing and inflation calculator.
- Know your monthly breakeven.
Look outside
- Check what three competitors charge for something similar.
- Note what customers say about your price. If no one ever mentions it, you may be too low.
- Ask your best customers what they value most.
Make the change
- Raise prices on the items with the thinnest margins first.
- Give regular customers notice: two to four weeks is common.
- Explain briefly and confidently. Rising costs are a reason customers understand.
- Update your website, menus, quotes, listings, and invoice templates on the same day.
- Check results after 60 days: did sales volume or profit change?