Price Increase Best Way to Aid Profitability

A Survey of farriers shows how their business are trying to weather the economic storm

After experiencing the financial woes of the last few months, we wanted to understand how farriers are combating the impact of inflation on their practices. With fuel prices hitting record highs and continued cost increase of supplies, many farriers are struggling to remain profitable with their practices

We surveyed farriers, asking for their advice on what they are trying. To no surprise, the top method is raising prices. But once a farrier determines what the price change should be, how important is it to tell the client?

Be a Good Communicator

The majority of farriers who took this survey agree that they should inform a client regarding a price increase (89%). Of those who raised prices, almost 60% report they have increased more than once in 2022. Most agreed that it should be a simple message, as clients are fully aware of price increases in every other area of their lives. Be honest and direct. These farriers may differ slightly on how to institute that increase, however. 

Most want to give the client a bit of a cushion, alerting before the next appointment. Many respondents told us that they let the client know before the next cycle.

“I try to warn at least a cycle ahead, maybe two,” says a farrier from Oklahoma who works mainly on backyard horses. “I let folks know once I’ve finished working and we’re scheduling the next appointment. That way I definitely get paid and they don’t feel pressured to reschedule if they can’t afford…

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Jeremy mcgovern

Jeremy McGovern

Jeremy McGovern is the former Executive Editor/Publisher. A native of Indiana, he also is president of American Horse Publications.

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