In this episode of the Equine Business podcast, Jenni Bush discusses the critical issue of undercharging in the equine business sector. She explores the hidden costs associated with undercharging, the negative impact of attracting cheap clients, and the importance of understanding business numbers to ensure sustainability. Jenni emphasizes that pricing is not just a mathematical calculation but also a marketing strategy that reflects the value of services offered. She encourages listeners to reassess their pricing strategies and highlights the support available through her community for equine business owners.

Takeaways

• Most equine business owners set their prices too low.
• Undercharging leads to exhaustion and the wrong kind of clients.
• Raising prices can lead to better clients and more income.
• Cheap clients are often the most demanding and least loyal.
• Understanding your business numbers is crucial for sustainability.
• Pricing should reflect the true value of your services.
• Positioning in the market is affected by your pricing strategy.
• Clients often associate low prices with low quality.
• Support and community can help in overcoming pricing challenges.
• Regularly reviewing and adjusting prices is essential for business health.

Keywords

pricing, undercharging, equine business, client attraction, business sustainability, pricing strategy, marketing, business support, equestrian industry, financial health