When is the right time to raise your prices? The simple answer: probably right now. In this episode, we break down why so many custom clothiers are leaving money on the table simply because they’re afraid to charge more. We talk about when a price increase requires nothing more than changing the number, when higher prices demand a better product and elevated experience, and why your pricing should reflect the value you actually deliver. We also share how we’ve approached price increases in our own business, including what happens when some clients can no longer afford you.

Highlights

02:35 - Is a last-minute custom tuxedo lead really worth pursuing?

04:55 - Why gift certificates can unintentionally limit what clients are willing to spend.

09:15 - Why you probably need to raise your prices if you haven't done so in the last two years.

16:38 - Why you don't owe your clients an explanation when your prices go up.

18:25 - Why we prefer raising prices during slower seasons and what it took for us to go from selling shirts in the 200s to the 500s.

22:23 - When raising your prices requires elevating your product, standards, and overall client experience.

26:37 - Why raising your starting price should also mean evaluating the value of your highest-end offerings.

32:52 - How your competitors and market positioning influence what you can charge.

41:55 - Why losing some clients after a price increase is part of building a more profitable and luxury business.

Resources + Links
Apply for Luxury Clothier Collective Mastermind HERE
More resources for custom clothiers HERE
Watch on Youtube

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Appointment Only in IG: @appointmentonlypod