It’s the time of year to start thinking about whether you’re going to adjust footcare prices for 2013. While the last couple years haven’t been all that good for the equine industry, that doesn’t mean you shouldn’t push up your prices for the coming year
First off, you’re probably paying more for supplies and fuel than you were a year or ago. And second, most clients will likely expect you to adjust your prices for the coming year.
In the American Farriers Journal November Directory about to arrive in mailboxes in a couple of weeks, subscribers will find a 7-page report featuring data from the 2012 Farrier Business Practices survey. This will allow readers to compare pricing data for eight trimming and shoeing options along with charges for repairing a typical hoof crack and adding pads and packing.
Exclusive Farrier Benchmark Study
Data for this farrier industry survey comes from a random sample of American Farriers Journal subscribers who filled out a four-page, 70- question survey.
Some farriers rely on this data to set prices for the coming year. For example, a Michigan farrier set his prices for footcare work at about $1 above the national average price. If a client asks him to justify a price increase, he backs it up with data from the Directory issue.
During last winter’s International Hoof-Care Summit, 54% of farriers said they were raising prices for 2012. The average increase was 8.5%.
Data from the 2012 Farrier Business Practices Survey indicates the national average price being charged this year to trim and nail on four keg shoes was $108.80. The average charge for full-time farriers was $115.21 compared to $89.64 for part-time farriers.
Here’s a regional comparison between 2010 and 2012 on the average charges to trim and set four keg shoes.
|Region||2012 Price||2010 Price|
Before you decide to think about raising prices, take a close look at your financial records. Decide if you are happy with your income and profit. Then ask yourself if pricing changes need to be made and what the impact would be on your clients. Then compare your prices with valuable data provided in this exclusive benchmark survey that’s part of the November issue of American Farriers Journal.