The coffee shop math that made me raise my rates

I was at a Starbucks in Columbus last week and realized my latte cost more per ounce than I charge for some of my design work. Did some quick napkin math and bumped my hourly rate by $15 that same day. Has anyone else had a random purchase make them rethink their pricing?

3 comments

3 Comments

lisas787d ago

A buddy of mine runs a handyman business and had the same wake up call at a Home Depot checkout last spring. He realized the plywood and screws in his cart cost more than what he was charging per hour for labor. Now he keeps a running list of random price checks to adjust his rates every six months or so. Your mileage may vary but coffee shop math is a solid reality check.

paige_bell817d ago

Totally get that. It's wild how something so small can smack you in the face with reality like that. I had a similar moment watching the price of eggs go up and realized I wasn't valuing my own time right either.

fisher.jessica7d ago

That's exactly what lisas78 is talking about with the Home Depot thing. Once you notice that pattern with basic stuff you buy every day it's hard to unsee it. I think keeping a list like their buddy does is smart because prices keep creeping up and you don't always realize how fast your own rates have fallen behind.