raise rates

gistfile1.txt

This is a common problem, especially for the many who under-value themselves at first and learn fast what our time is really worth. Been there! Here's something similar to what I've sent in the past, and now the expectations for rate increases are included in my long term contracts.

_________________________ 

Dear [client],

[Something about how you value them and like working for them]. Thank you for providing such a good working relationship.

The value that I provide in return is attracting new customers willing to pay a premium. In response, all my new clients are paying rates of at least [$x].

Because I value our working relationship, I want to offer you a rate of [$x-15% or whatever discount you are comfortable with], effective immediately. This rate will be good through [date], at which time I need to bring you up to my full rate of [$x] in order to give you fair priority on my schedule.

Additionally, please expect notice annually [if you have a date you can commit to then say so here; I tell my clients "every January"] of rate increases corresponding to demand for my services or [+$5/hr], whichever is higher.

I will understand if this means that my rates no longer fit your budget, and I hope you understand that I cannot offer anything lower while continuing to grow my business.

Please [however you want them to confirm your new rate--approve new quote, sign new contract, etc].

[Close with Sincerely/Thanks/whatever you normally close with]