How do you determine what to charge for an mobile notary appointment?
Do you set your fee’s based on what you feel your time is worth? Are your fees based on what every one else is charging? More importantly, do you know how much you spend out of pocket per appointment?
Choosing the right fee for your mobile notary public service can be one of the most important decisions you make. But how do you know what the right fee is, and what strategy should you choose when setting your fee structure?
Below are three tips on setting your fees for you mobile notary publicservice.
Know your market
How many mobile notaries are in your area competing for the same clients? What makes you different from all of the other notaries in the area? What compelling reason is there to use your service over another mobile notary?
Conduct an analysis of your competitors, find out what they charge, what their business hours are, how far they travel, and anything else that will give your mobile notary public service the edge over your competition.
Know your costs
How much money do you spend to run an appointment? And I don’t mean the gas it takes to get from point A to point B. Here is a simple formula you can use to determine your cost per appointment.
Total your monthly spending for last month on travel, marketing, rent, supplies, insurance, and utilities. Then divide that number by the total number of appointments you conducted and presto you have your cost per mobile notary appointment.
Once you decide on a fee schedule for your mobile notary public service it’s a good idea to stick with it and only make adjustments when absolutely necessary. Inconsistent pricing will lead to client confusion and frustration, which really means less work for you.
Keep in mind that pricing is more of an art rather then a science. Be sure to follow the above tips and remember to always track your progress.