Good morning, haulers ☕
Raising your prices can feel intimidating, but it's something every business owner needs to face sooner or later. If you’ve been putting it off, I get it—but trust me, it might be the best thing you do for your business.
What We’ll Cover:
• The hidden cost of not raising prices.
• How to test new pricing without losing loyal customers.
• Strategies to price based on value, not time.
When was the last time you raised your prices? Six months ago? A year? Five years? Maybe… never?
If the idea of raising your prices gets your palms sweaty, you’re not alone. I’ve been there. I remember one of my earliest “a-ha” moments in business like it was yesterday.
A few years into running my hauling company, I met with a peer from a neighboring county to talk shop. The topic of pricing came up, and he casually mentioned how much he charged per truckload. My jaw hit the floor. He was charging $100-$150 more than me—and my truck was bigger!
I couldn’t believe it. Was I really underselling myself that much?
Turns out, I was.
I went back home, evaluated my pricing, and raised it immediately. To my surprise, most customers didn’t bat an eye.
Sure, a few long-time clients hesitated, so I grandfathered them in at the old rate.
But every new customer paid the higher price, no questions asked.
Here’s the thing: I was terrified of losing business, but instead, I gained confidence. I realized I wasn’t just charging for a truckload; I was charging for my value. And that value was worth more than I’d been giving myself credit for.
Why You Should Raise Your Prices
Running a business isn’t getting cheaper. Every day, your costs are climbing—fuel, insurance, equipment, software. Inflation is quietly eating into your profits, and unless you adjust your prices, your margins will keep shrinking.
But there’s another side to pricing and it's called signaling.
Price isn’t just about covering costs. It’s a signal to your customers about the value of your service. People naturally associate higher prices with higher quality. If your prices are too low, you might be unintentionally signaling that your service is “budget” or less valuable.
Surprisingly, raising your prices can sometimes increase demand.
Why?
Because a higher price communicates confidence, expertise, and quality.
How to Raise Prices Without Losing Customers
If you’re nervous about pushback, here’s a simple strategy:
• Start with new clients. Keep your current customers at their current rates for now, rewarding their loyalty while you test the waters with newcomers.
• Get curious about objections. When a potential customer chooses not to book, follow up and ask why. Was it the price? A competitor? You’ll learn where your pricing stands in the market. I can’t even begin to tell you how important this is 👆
• Focus on value, not just time. Instead of calculating your prices purely based on time or effort, think about the outcomes you’re delivering. What’s the value of your service to your customers? What are they saving by using you?
What We’ve Learned
Raising your prices isn’t just about keeping up with inflation. It’s about:
• Protecting your profit margins.
• Signaling the value of your service.
• Working smarter, not harder.
Here’s the kicker: When you raise prices, even if you do fewer jobs, you can often make the same—or even more—profit while working less. It’s about maximizing each job’s value, not grinding yourself into the ground.
However, there’s something to be said about low-cost, quick jobs. This doesn’t mean you can’t or shouldn’t haggle with customers who want a deal. Every market is different, so whenever you make changes in your business, caution should always be exercised. Data should be recorded and analyzed over a set period of time to make proper adjustments and future-based decisions.
There’s never a one-size-fits-all solution. In my case, raising my prices worked really well for bigger jobs—full truckload jobs. We made more money, plain and simple. But we still took on the smaller jobs, negotiated with customers, and packed our schedules to win business.
Take it from me: that pricing conversation years ago changed how I viewed my business. I realized the biggest limiter wasn’t the market—it was me.
So here’s your challenge: Take a hard look at your pricing today. Run the numbers. Test your boundaries. And when you raise your prices, shoot me an email and let me know how it goes.
I love hearing your success stories, and I’m here to celebrate your wins. Let’s keep building.✌️✌️
Justin Hubbard
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4. Financing for Trucks and EquipmentPlanning to grow your fleet or upgrade your equipment? I can connect you with flexible financing options designed for service businesses. Reach out, and I’ll guide you through the next steps.
5. Looking to Buy a Truck?If you’re in the market for a new truck, I can connect you with a trusted dealership that works specifically with businesses in our industry. Let me know, and I’ll help you get started.
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