New laws new price?

[mommagamber]

With the class time being shortened and we will no longer have renewals classes are y'all going to be changing your prices? I am trying to figure out what to do.

[MasterOfNone]

No. The price reflects much more than the time spent in class.

[dogflight]

At this point I don't intend to change my pricing structure, but in reality it will depend on what the market does. It seems like the average price has been dropping the past two or three years anyway, but production costs don't really change just because we get to talk a few hours less. I'm hoping prices don't sag. It would be nice to see prices boosted a bit by increased demand. Wishful thinking perhaps.

[cw3van]

No. The price reflects much more than the time spent in class.

Still have all the class work before the students arrive but will have to wait & see what the market allows.

[mommagamber]

Ok, that is what I was thinking but I am watching all the places close to me to see what they are going to do. Thanks.

[Max1775]

I won't be changing my prices. I put quality first. People will always be able to get it cheaper, but I doubt they can find better... I don't see how I'm going to fit everything in 6 hours of classroom time. Going to take a lot of whittling.

[longtooth]

No price reduction here.
My classroom rent will not go down. Same for lease, insurance, materials to repair shooting line, my A1 Johnny Port-A-Potty.

Nothing will go down.

[nightmare69]

A few CHL instructors were at the gun show awhile back and said they will be dropping their price because competitors are doing it. One told me "I have to lower my price or not have any students." Seems ones around here are being forced to offer lower class rates or close up shop.

[goheeled]

I plan on a minimal reduction based on the market. $5-10 max.

[The_Busy_Mom]

My price will probably go down, but only because my price includes a catered lunch. With the class hours reduction, I will most likely be doing class either before or after lunch, so no need to cater in. However, I will not be reducing any further than the cost of said lunch, which right now is about $12. I am already more expensive than the majority of providers around me, but I have amassed quite a following of students, and have gotten many referrals. I think of my CHL class like I do when buying a house: I don't want to be the most expensive house on the block, but I don't want to be the cheapest.

When I was in corporate world, I worked for a company who wrote computer software for the banking industry. In this software was information about the economic status of every zip code in America. So my company thought, since we already have to have this information for our banking software, let's also make a marketing program using the exact same information, but not just for banks, for everybody. This marketing software we priced pretty low because, heck, it was pure profit. But we couldn't sell it!! The number one reason potential clients did not buy it was because the client thought 'you pay for what you get' so it must be an inferior product. So we raised the price, and bam!! We sold the snot out of it, and became one of the top MCIF software programs. Same info, no program change, the only change that was made was to increase the price. Moral of the story: if the customer perceives value from your product, it will sell. Word of mouth is much more important than a few bucks. And most times, you really do get what you pay for.

TBM

[dogflight]

Well said, TBM.