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THE LONGEVITY FACTOR. Canadian farrier Bill Everitt says farriers need to make sure to factor in the costs of health care benefits when they set their prices. He points out that the positions farriers like this one spend much of their day in are likely to limit the length of a shoeing career.
AS WITH MOST THINGS IN LIFE, we’re probably all too busy operating our shoeing business to reflect much on how the prices that we charge are actually determined. Some say we charge whatever the market will bear. Some argue our rates are far too low when all the hidden costs of operating our businesses are considered. But there has to be some reasonable way to determine the true value of the shoeing services we provide to the marketplace.
We feel that we deserve a similar standard of living and lifestyle to other professionals. But as you will see later, we cannot simply look at gross income and make a judgment as to what is fair market value. This is because we have many expenses that other professionals do not.
Since we get paid for the real value we bring to the marketplace, it would be useful to assess that value. That will enable us to determine a price structure that is representative of what the services we offer are really worth.
Gaining respect and credibility from our clientele is part of assessing the true value of what we offer. The fact that there is no…