With the passage of time, prices or rates of goods tend to increase. Sometimes this increase can be minimal and sometimes it can be great, depending upon the situation of a particular economy. Such an increase in rate or price must be communicated to the potential customers of the business by writing a formal price or rate increase letter. Many businesses also use a particular price or rate increase letter template in order to inform their customers about the price increase every time.
A sudden intimation of increase in price will have a bad impact on your potential customers. Therefore, you should take reasonable steps to inform your customers as early as possible, after the price increase. For more clear understanding, make sure to check out the following editable price or rate increase letter templates.
Official Price Increase Letter Templates
Business’s Price Increase Letter Template
Formal Price Increase Letter Template
Precise Price Increase Letter Template
Detailed Price Increase Letter Template
Brief Price Increase Letter Template
Proper Price Increase Letter
Product Price Increase Letter Template
Eccentric Price Increase Letter Template
Company’s Price Increase Letter Template
Exclusive Price Increase Letter Template
Sample Price Increase Letter Template
Explained Price Increase Letter Template
Comprehensive Price Increase Letter Template
Corporate Price Increase Letter Template
Simple Price Increase Letter Template
Particular Price Increase Letter Template
Example Price Increase Letter Template
Tips for preparing an Effective Price/Rate Increase Letter Template
While preparing a price or rate increase letter template, you should be very careful about your tone, content of the letter and its overall layout and structure. Following are some useful tips which will assist you in writing an effective price or rate increase letter template:
- Make sure that your letter should be to the point and simple. Instead of wasting time in irrelevant information, the content of your letter should be direct and precise.
- Start with a brief salutation and then briefly explain your intention of increasing the rate or price.
- Don’t forget to mention the date from which the price increase will take effect.
- Briefly mention the reasons of price increase. Try to be precise and use simple sentences which are direct and related to the subject matter of the letter.
- Ensure to clients or customers that the price increase will add more value to the services offered to them. It might slightly cover the impact of the price increase.
- At the end of the letter, don’t forget to add a short statement thanking your clients or customers.
Professional Price Increase Templates
Exclusive Price Increase Letter Template
Product’s Price Increase Letter Template
Short Price Increase Letter Template
Catchy Price Increase Letter
Orthodox Price Increase Letter Template
Routine Price Increase Letter Template
Fuel Price Increase Letter Template
School Fee Increase Letter Template
Concise Rate Increase Letter Template
Transport Price Increase Letter Template
School Fee Increase Letter Template
Service Fee Increase Letter Template
Explanatory Price Increase Letter Template
Manufacturer’s Price Increase Letter Template
Sample Price Increase Letter
Direct Price Increase Letter Template
Informative Price Increase Letter Template
Reasons for writing a Price/Rate Increase Letter
There are many factors involved in increase in price or rates of products or services. Following are some of factors due to which the prices of products or services increase and ultimately a price or rate increase letter is written:
- The most basic reason is the increase in costs of the business. It includes all the different costs such as operating costs, admin costs, costs of sales or other overheads etc. So as a result of increasing costs, the price is also increased.
- A major growth and expansion in the business can also lead to increase in costs as well as prices of products or services.
- If you want to improve and provide higher quality of services to your clients or customers, it will ultimately increase your costs, thus increasing the price too.
- If you analyze that you are offering the products or services at lower price than your competitors in the market, then you will increase the price in order to stay in competition.
- If some clients or customers continuously argue about your current prices knowing that it is still reasonable as compared to others, you would surely want to increase the price of your product or service in order to let go of them.
