Do you consider this a fair business practice?

If I had a bunch of clients signed up, paying me $10 on a recurring basis.

Would you consider it acceptable to send them a message saying

"Due to increasing operating expenses, we are raising the price of our hosting to $15 a month. The price will increase on the next billing cycle."

What do you all think? Should I do it? Anything I should add to my message?

Thanks.

Ask $15 to new customers ...

maildigger said:

Ask $15 to new customers ...

Click to expand...

Yeah, increase your price but only to the new customers. If you try and increase the price of your current customers, some people might end up being unhappy.

Honour your existing customers, its the right thing to do, As for your new customers, why not try it.

If you increase rates you should give them a longer time period before applying these new rates. I have never had a company tell me the rates increase next month. Its always like next year or as of ...