how to draft a letter from an attorney to client regarding raising prices

When writing a price increase letter to send to clients, there are a few things to keep in mind:

• Keep it short and to the point
• Don’t apologize
• Encourage questions or concerns
• Prepare multiple formats for different customers (email, text, and mail)
• Send it out early
• Include the amount and date of the change

Full Answer

How to notify clients of increasing prices?

What is a rate increase letter?

How to end a letter of appreciation?

When will shipping rates increase in 2021?

When will Midori increase prices?

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Sample Price Increase Letter – Sample Letters

It’s never easy to implement price rises, but they are a fact of life and your customers won’t desert you if you put up your prices. Sometimes they have to be raised due to the cost of raw materials, sometimes because the costs of running your business in general have risen.

Sample business letter for Price increase

This is a sample business letter for price increase in the product or service from corporate service/solutions providers. This business letter is perfect for any company that offers an increase in product or service. This is a business letter which can be sent via e-mail, post, fax or courier.

How to Write a Service Rate Increase Letter? Template & Sample

From, Office 87, Westside MG Road New Delhi- 112932. 23rd March 2017. To, The XYZ Company AK Building HJ Road. New Delhi -111314. Subject: Service Rate Increase

How to Write a Price Increase Letter?

A price increase letter should be concise and clear. This will allow your customer to understand what is happening, why, and when it is likely to take place. Furthermore, it foresees and answers all the questions your customers might ask. Here is an overview of how you should write your price increase letter:

Why is a price increase letter important?

A price increase letter is essential because it assists businesses in featuring a perfect relationship with their clients. It ensures that you maintain an ideal relationship with your clients.

What is a price business letter?

A price business letter is an announcement that most businesses make explaining why they decided to increase prices on services and goods they offer. Companies raise prices to try and compensate for the rising cost of their products, and they must explain all this to their clients. This letter reflects a percentage of the price that will increase and when these changes will commence. Remember, you can write and send this letter via email or post. You can even opt to make it a public notice.

How to tell customers about price increase?

Therefore, informing them in advance will give them enough time to go through their budget or opt for another option . Ensure you tell them as soon as you are aware of everything. You can encourage them to purchase as many products as possible before the price increases.

Why do you increase the price of a product?

You can also increase the price because your business is booming, and the team you feature cannot handle the entire packages, subscriptions, and orders. Bear in mind that this will automatically narrow down your clients’ base as it keeps the same revenue stream. In addition, it might be the perfect opportunity to eliminate nagging customers, more so those you cannot manage to stand anymore. Similarly, you can choose to rebrand yourself as an excellent company with high reward, high- investment, and high quality. This will make you stand out uniquely.

What to do after writing a letter to a client?

After writing your letter, ensure that you send reminders regularly about the price increase. You must confirm that your clients have received your letter and have understood. And are also willing to adjust to the new changes.

What to include in a price increase?

What to Include. Be clear, concise, and explain if possible. Here is what to include: Basic reason for the price increase. Date the increase will take effect. Final date to purchase the products at the lower price. Specific increase amount. Specific products affected. Any exceptions to the rule.

How to notify clients of increasing prices?

Use direct and specific wording. Notify the clients in no uncertain terms that prices will be increasing. After your greeting, this should be the first thing you state.

What is a rate increase letter?

A rate increase letter is an announcement that a business makes about a decision to raise prices on goods or services. Often, businesses raise their prices because they are trying to compensate for increased costs of their own, and they want to explain this to their clients. The letter includes the amount the prices will increase and when the changes will take effect. You can send this letter by post, email or even as a public notice.

How to end a letter of appreciation?

End on a grateful note. In the letter's closing, express your gratitude for the clients' understanding and support. This small gesture shows that you understand the potential challenges involved and appreciate their willingness to cooperate.

When will shipping rates increase in 2021?

This letter is to notify you that we have decided to implement a 3% increase in shipping rates on both domestic and international orders, effective July 13, 2021. This increase is being made to meet corresponding increases in the shipping industry.

When will Midori increase prices?

have deemed it necessary to adjust our rates in order to keep pace with manufacturing, shipping and operating costs. Beginning in the new year, January 1, 2021, there will be a 5% increase in the prices of our paper products.

What is an attorney fee increase letter?

An Attorney Fee Increase Letter is a formal notice to an attorney’s clients to inform them that certain or all services in the firm will cost more from a set date. As an attorney, you can raise your rates to match prevailing market prices or because of the amount of work you are doing. Whatever the reason, you must inform your current clients beforehand.

How to communicate fee increase?

Simplicity. Direct and simple is the best approach when communicating a fee increase to your clients. Be honest, straight, clear, and to the point. Additionally, write confidently to convey the message that you have put a lot of thought into your decision.

Do you give notice before changing your fees?

Notice. Finally, always give your client plenty of notice before changing your fees.

Can an employee request a raise?

When costs and prices change, an employee can always go to their boss and request a raise . However, as the owner of a firm or a solo practitioner, it is up to you to ensure your rates match your work. The aim is to grow your practice and meet your personal goal while maintaining your clients. In this article, we review some tips and example letters to help you notify your clients of a rate increase.

When sending out a price increase letter, do you give your clients notice?

When sending out a price increase letter make sure you give your clients plenty of notice before the price change goes into effect. Springing a price change on them would not go over well and could receive a negative response.

What happens if a $50/hour client declines the price increase letter?

On the other hand, if your $50/hour client declines the price increase letter, then maybe they don’t quite see the value you bring to the table. In this case, if you can afford to, move on to finding clients that do see the value you bring.

What if they can’t afford the price increase?

Don’t stress when sending out a price increase letter. Feel confident in your work and you deserve this price increase. However, you should be prepared that some clients may not be able to afford your new rates. At this time you have a decision to make.

How to tell clients about price increase?

How to tell clients about your price increase. As in any relationship, communication is key to its success. Your working relationships with your clients is no different. To be successful you need to have clear communication at all times, especially when dealing with the financial side — because nobody likes surprises.

How to gain approval from client on price increase?

A great way to gain the approval from your client on a price increase is to provide an added value to them.

Why do you send a price increase letter?

7 Reasons to send a price increase letter and increase your rates. 1. Your business costs have naturally gone up. 2. It’s time to change the way you charge your clients. 3. Your pricing is far below market rate. 4. Too much work with not enough time.

How to write a price increase?

Be straight, honest, and to the point. Make it clear what you’re telling them, and write confidently. If you are uncertain about your price increase, it’ll most likely show in your writing.

What is price increase email?

Your price increase email will provide the immediate information your customers are seeking: how much, when, and why. But for some businesses, it's not that black and white. You may want to create a FAQ page to address hypotheticals, answer follow-up questions you anticipate, and provide any helpful context.

How long should a price increase stay the same?

Before you announce your price increase in a letter to customers, ensure that the team is absolutely certain the price will stay the same for as long as possible (ideally, at least a year )—even if this means bumping your increase up a bit to have a cushion. Better to be the bearer of bad news only once. Plus, small increases close together can appear sneaky.

Do you want to inform customers of price increases?

No one wants to inform their customers of a price increase, but if you go about it the right way, you can minimize the risk of churn and/or angry responses. Here are nine tips along with examples to help you get it right.

Does Netflix send price increases?

While Netflix certainly sends very brief emails about price increases, I wouldn’t recommend going with this type of in-app notification:

Do suppliers pay for everything?

While I can relate to those who have gotten into the habit of buying *everything* from Amazon, or Grubhub, or Etsy, the reality is that suppliers pay the price of convenience.

Should you send a blanket email to a customer about a price increase?

This is a given for all email marketing, but for a slightly different reason. If the price increase will have different implications for different customers, don't send a blanket email where your customers have to dig through and figure out what applies to them. Segment your customers by plan or service so you can personalize the messaging and make the important details crystal clear.

Why do you need to notify clients of price increases?

Communication is key in price increases because it helps clients feel respected and prepared (plus, you’ll avoid angry phone calls after surprise bills).

How to tell clients about price change?

Before you tell clients about a price change, you need to make sure that you communicate it to your staff first. When all of your staff members are on the same page, it ensures consistency in quotes and invoices as well as customer service inquiries from clients. From your office staff to contractors or employees, have everyone on board before notifying customers to avoid any issues in the future with inconsistent information.

What happens when you price low?

When you price low, you tend to attract customers who value savings above things like quality or workmanship. These customers can actually cost you more than they’re worth. And if they’re going to leave over a small price increase, chances are you’d have lost them to a lowballing competitor anyway.

Why is communication important in pricing?

Communication is key in price increases because it helps clients feel respected and prepared (plus, you’ll avoid angry phone calls after surprise bills). Try to give clients between one to three months’ notice before raising prices. READ MORE: Learn how to use good, better, best pricing on your quotes.

How do competitors change?

As your service business grows, your competitors will change based on the types of clients you target, the services you offer, and the niches you focus on. If there’s a specific competitor that you want to aim for, raising your prices to better match theirs puts you in a more strategic position to attract their customers.

Why do service based businesses raise their prices?

Raising your prices allows you to hire more skilled labor, pay yourself and your staff bigger salaries, and work on more exciting jobs with clients you enjoy.

Why do companies raise prices?

Price increases can also be used to help you reach specific business goals, like hiring a certain number of new employees or expanding to a new area. If you are looking to grow your business, raising prices may be the best way to fund your expansion.

How to write a letter to a client?

The first line of your letter should clearly state the reason you're writing. This helps the client immediately know what the letter will be about in order to keep their attention and entice them to continue reading. Include direct statements wherever possible and speak in the first or second person by starting sentences with "I" or "we" to keep the letter personable.

What are letters to clients?

Letters to clients are documents written by business professionals to current or potential customers. Many marketing and sales professionals often write letters to clients for an abundance of reasons, like promoting a product or service, launching a new business or responding to client complaints. You can write and send these letters through email or traditional mail.

Why is it important to write a letter to your client?

Crafting relevant, engaging and thoughtful letters to your clients is a great way to demonstrate your appreciation for their business. Taking the time to write letters to your clients may help you stand out from the competition and build lasting connections with customers. Cater your letter to the specific customer and situation you're addressing to ensure it's relevant, professional and personable. In this article, we'll review what letters to clients are, tips for writing them and templates to help you craft great client letters.

What should be the format of a letter?

While the content in your letter should be well-written and professional, the formatting should also be clean and easy to read. Since your letter is serving as a representation of your company, consider using professional letterhead with your company's logo and other branding elements. Other formatting guidelines you should follow include:

What to say on behalf of our team?

On behalf of our team at [ company name,] I'd like to welcome you on as a new client with our company . We're excited to get started on providing you with a service unlike any other. [ Provide a brief overview of the company.]

How much should I raise my rates in private practice?

How much is the right amount to raise your rate? I have a full article walking you through the process of setting your rate in private practice. Check out that post to help you reevaluate your rate and set it so that you can earn the income you desire while seeing your ideal number of clients. Check out that post here: Set Your Hourly Rate in Psychotherapy Private Practice.

How to help clients with budget changes?

If a client potentially can’t afford your new rate, this may be helpful to allow them space to transition out slowly and get them situated with a new therapist if needed . This also helps clients plan their budget and make changes accordingly.

How long has Kate and Katie spent studying law?

Want to take the guesswork out of your informed consent and all of your private practice paperwork? Check out Private Practice Startup’s awesome paperwork package! Kate and Katie have spent over 100+ hours studying the laws, rules and ethics and paid thousands of dollars in attorney fees so you don’t have to. Pretty sweet right?

Can you raise your private therapy rate?

Let’s get something out of the way first: you are FULLY allowed to raise your rates in private practice! Many therapists I talk to express concern that once they advertise a certain rate then they have to keep it that way forever.

How to notify clients of increasing prices?

Use direct and specific wording. Notify the clients in no uncertain terms that prices will be increasing. After your greeting, this should be the first thing you state.

What is a rate increase letter?

A rate increase letter is an announcement that a business makes about a decision to raise prices on goods or services. Often, businesses raise their prices because they are trying to compensate for increased costs of their own, and they want to explain this to their clients. The letter includes the amount the prices will increase and when the changes will take effect. You can send this letter by post, email or even as a public notice.

How to end a letter of appreciation?

End on a grateful note. In the letter's closing, express your gratitude for the clients' understanding and support. This small gesture shows that you understand the potential challenges involved and appreciate their willingness to cooperate.

When will shipping rates increase in 2021?

This letter is to notify you that we have decided to implement a 3% increase in shipping rates on both domestic and international orders, effective July 13, 2021. This increase is being made to meet corresponding increases in the shipping industry.

When will Midori increase prices?

have deemed it necessary to adjust our rates in order to keep pace with manufacturing, shipping and operating costs. Beginning in the new year, January 1, 2021, there will be a 5% increase in the prices of our paper products.