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$4 Gas prices have arrived early!

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[quote][i]Originally posted by Shannon[/i]
[br]Due to unrest in the middle-east, gas prices saw a sharp increase this month ahead of what is the normal, summer "BUMP" in pricing due to California fuel content.  During the warmer months it seems, we Californians use a different recipe of fuel and due to emission standards here in our state, we pay more during those summer months. 
 
A dilemma that I was unprepared for has me sitting on the fence and asking myself "How soon is too soon to raise signing prices?"  I set my prices with an eye to profitability knowing that on some signings I will make a little extra and on some a little less depending upon distance of travel.  I have "flat rates" for loan package signings (by county) with each county pricing based on travel to the center of each particular county. If I travel less, I earn more and vice versa.

While many new notaries charge less than I do for loan packages, my pricing has been both consistent and kept me alive as I see other notaries pack it in and go back to their day jobs.  I have been a full-time Notary Signing Agent since 2003.  There have been some thin times, but I have survived.

Still, I'm reluctant to pull the trigger on price increases as I want to keep the flow of signings I currently have with little or no fall-off.

I'd love to hear your thoughts (especially California Notaries) as we are potentially looking at a $5/gallon before summer...when would you make a move?

"A Quick Note"
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https://twitter.com/aquicknote
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T O P I C R E V I E W
Shannon	Posted - 03/05/2011 : 10:32:13 PM Due to unrest in the middle-east, gas prices saw a sharp increase this month ahead of what is the normal, summer "BUMP" in pricing due to California fuel content. During the warmer months it seems, we Californians use a different recipe of fuel and due to emission standards here in our state, we pay more during those summer months. A dilemma that I was unprepared for has me sitting on the fence and asking myself "How soon is too soon to raise signing prices?" I set my prices with an eye to profitability knowing that on some signings I will make a little extra and on some a little less depending upon distance of travel. I have "flat rates" for loan package signings (by county) with each county pricing based on travel to the center of each particular county. If I travel less, I earn more and vice versa. While many new notaries charge less than I do for loan packages, my pricing has been both consistent and kept me alive as I see other notaries pack it in and go back to their day jobs. I have been a full-time Notary Signing Agent since 2003. There have been some thin times, but I have survived. Still, I'm reluctant to pull the trigger on price increases as I want to keep the flow of signings I currently have with little or no fall-off. I'd love to hear your thoughts (especially California Notaries) as we are potentially looking at a $5/gallon before summer...when would you make a move? "A Quick Note" www.aquicknote.net Follow me on Twitter: https://twitter.com/aquicknote Like me on Facebook: http://goo.gl/WWpGP
6 L A T E S T R E P L I E S (Newest First)
Shannon	Posted - 03/09/2011 : 6:24:46 PM Thanks Lee! I'm anxious to hear from as many as will respond... "A Quick Note" www.aquicknote.net Follow me on Twitter: https://twitter.com/aquicknote Like me on Facebook: http://goo.gl/WWpGP
Lee-AR	Posted - 03/09/2011 : 05:46:20 AM I've been doing this for 18 years in 2 states. My business model in WI was much like most everyone's--a fee for my county and a bigger fee for surrounding ones. Think it took 2 signings in AR when I realized that model wasn't going to work out at all for me here. So I switched to "Base fee + Time/Mileage". Case by case, day by day. I am absolutely prepared to do this (can even quickly adjust for changing gas prices) and all of my regulars know this is how it has to be. Sometimes I get some flak, but it's easily countered because I am prepared.
Shannon	Posted - 03/08/2011 : 3:17:12 PM Thanks Linda and you are right. The problem remains that there continue to be Notaries Public willing to do ridiculously low-cost signings because they believe it to be easy money. I view these folks as "transient" (as in they will only last a little while) as opposed to Professional Notary Signing Agents like ourselves. These same individuals let their commissions lapse when things got thin and went back to a day job. We rode out the mortgage crisis and scrambled to stay alive (and did). Now they are back poaching our clients as things pick up...it's infuriating. But, in the eyes of the end user, one notary stamp is as good as another and they only see a lower dollar amount. This is the big problem facing Notaries today...a public that is unaware of the dangers associated with hiring an inexperienced notary. Rant ends [Removed soap-box] ;-p "A Quick Note" www.aquicknote.net Follow me on Twitter: https://twitter.com/aquicknote Like me on Facebook: http://goo.gl/WWpGP
LindaH	Posted - 03/06/2011 : 08:04:30 AM quote: Originally posted by Shannon I take the raising of prices very seriously and have done everything I can think of to avoid it. My last price increase was in early 2005 (although I did raise my minimum for messenger service another service that I offer). Still, with work on the increase, I'm not sure I want to kill the golden goose. I'm really agonizing over this one. "A Quick Note" www.aquicknote.net Follow me on Twitter: https://twitter.com/aquicknote Like me on Facebook: http://goo.gl/WWpGP I agree Shannon - it is serious...but the irony makes me chuckle too.. Gas prices UP; food prices UP; service providers UP; health insurance premiums UP; medical co-pays UP; federal withholding UP; consumables used in business UP.... Our fees - static or down - what's wrong with this picture?? Linda www.notarydepot.com/notary/lindah http://www.notary.net/websites/LindaHubbell
Shannon	Posted - 03/06/2011 : 07:52:55 AM I take the raising of prices very seriously and have done everything I can think of to avoid it. My last price increase was in early 2005 (although I did raise my minimum for messenger service another service that I offer). Still, with work on the increase, I'm not sure I want to kill the golden goose. I'm really agonizing over this one. "A Quick Note" www.aquicknote.net Follow me on Twitter: https://twitter.com/aquicknote Like me on Facebook: http://goo.gl/WWpGP
LindaH	Posted - 03/06/2011 : 05:35:01 AM Not in California, but we here in my area in FL are at $3.55/gal as of Saturday morning. I, too, have a flat rate for loan signings. In theory, I raised my prices the beginning of the year to reflect the already increasing cost of gas - since my car gets good gas mileage, my increase was $5 for home county and $10 for outer counties (of which I serve 9).. I've gotten my higher fee once - for the most part everyone else balks at it - and when they do it raises the question "is it worth losing the job (or possibly a client) for a lousy $5 or $10?" - and most times the answer is no .. <<sigh>> So, in theory I increased my fees, but in practice am I getting the higher fee? For the most part, no - I'm right where I was in December on my fees, which means I've not had a "raise" in over 4.5 years. So, I'm now more closely watching just how far I have to travel for those almost-5-year-old fees and shrinking my service radius in some cases - unless they're willing to pay additional travel. Linda www.notarydepot.com/notary/lindah http://www.notary.net/websites/LindaHubbell