I just purchased a company and when I took over, the prices were too low. The previous owner gave a lot of discounts to win deals. So I raised prices. When you raise prices, you can still offer a discount and protect your margin. Pick your margin floor and raise prices so you can discount it down to that margin floor. My guys are super confident in our quality and they stick to our prices. We usually only discount if they are a previous customer or buying multiple products from us. Our volume is down slightly YoY but margins are better. Raise those prices and be confident in your quality and brand. Depending on the demographics you serve, higher prices sound like higher quality. We win in more affluent areas by actually raising prices a little more. At the end of the day it's all about psychology-people want quality and they want a deal. Protect your margins at all cost so you can feed your family and grow the business. My 2 cents.
