Amazon made news when the e-commerce giant announced plans to raise the price of its annual Prime membership to $119, up from $99 at the time (it has since been raised to $139). A $20 annual increase works out to less than $2 a month, which certainly isn’t much, especially when you consider that it entitles members to free two-day shipping and streaming access to lots of TV shows, movies, music, and even sports. Still, the internet was filled with outrage and complaints from angry Prime members (and non-members).
That kind of backlash is enough to scare a small business away from raising prices—even though that’s something that you may be considering. The rising costs of labor, energy, and borrowing have forced many small business owners to cut corners in order to make ends meet.
But you don’t have to go on that way. Here are five tactics for raising your prices:
Dispatches From The Front 