There can be a natural reservation to raising prices, out of fear that customers will go elsewhere.
This assumption is worth testing, as increasing prices is the easiest and quickest way to increasing income.
If you are hesitant about putting your prices up, start with a small increase and observe the result. You’ll be encouraged by the loyalty of your customers, and if the overall response is negative you can easily shift the prices back.
You can also look at this from another perspective. How much lower is your price compared to the value your customers receive?
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