The P.R.I.C.E Framework Part 5 - Evaluation

You’ve changed your prices. But how do you know if the change actually worked? In the final episode of Vicky’s **P.R.I.C.E Framework**, we reach the last and arguably one of the most important stages: **Evaluate**. The P.R.I.C.E Framework takes pet business owners through five stages: **Position, Review, Implement, Communicate and Evaluate**. But it isn't a one-off exercise, it's a cycle designed to help you continually improve your pricing as your business evolves. Vicky explains why you shouldn't judge a price change based on one client leaving or a couple of quiet days. Instead, you need to give your changes time and look at the data. In this episode, she discusses: - The eight areas you should evaluate after changing your prices - Why **revenue and profit** tell very different stories - Tracking your average transaction value and client numbers - How pricing changes can improve your capacity and workload - Why losing a few clients isn't necessarily a bad thing - Assessing whether you're attracting a better mix of clients - How client feedback can help you refine your services - Why **how you feel about your business** matters too - Setting a review date rather than reacting emotionally - Using what you've learned to adjust and repeat the process A successful price increase doesn't necessarily mean keeping every single client. If you're earning more profit, working fewer hours, creating more capacity or attracting better-fit clients, losing a small number of customers could actually leave you with a stronger business. There is no single **perfect price**. Your costs change. Your business changes. Your goals change. And your pricing should change with them. **Evaluate. Learn. Adjust. Then start the cycle again.** Takeaways: - P.R.I.C.E stands for **Position, Review, Implement, Communicate and Evaluate**. - Evaluate revenue, profit, average transaction value, client numbers, capacity and client mix after making pricing changes. - Don't make kneejerk decisions based on the first few days — set a review date and gather meaningful data. - Losing clients isn't automatically negative if profitability, capacity or client quality improves. - Listen to client feedback, including objections and positive comments, and use it to improve your offering. - Communicate fair price increases confidently rather than apologising for them. - Use your findings to tweak your pricing, positioning or services where necessary. - There is no perfect price forever — pricing should evolve alongside your costs, goals and business. **Podcast Sponsor – Lopay** This episode is proudly sponsored by Lopay, the low-cost payment platform that helps small businesses keep more of the money they earn. Find out more about Lopay and how it can support your pet business here: 👉 https://merchant.lopay.app/ref/thepetaccountant2000 🐾 **Join Us at Pet Pro Expo 2026** If you’re serious about growing your pet business, you need to be in the room. 👉 https://www.petproexpo.co.uk/ 🌐 Visit petaccountant.co.uk To find out how Vicky, Lee, and the team can help your pet business grow. 🐾