Small device repair shop looking to double in a short period of time. It is the 6th location (newest) and is in a totally separate area with less competition. What are some marketing tactics to ramp up sales fast? There are locations performing 3.5 times.
The fastest way in all of business to double revenue is to increase your price. Try doubling your price and see how many customers leave. If less than 50% leave then you just made money!!
This is technically called elasticity of demand and without getting all economics gangster on you, it's part of the 4 (or 5) Ps of marketing.
There was a recent article about an ecommerce retailer who actually increased prices 5% on Black Friday while everyone else was discounting. They made more money this year than last and didn't lose any customers. In this case, most people's elasticity of demand wasn't sensitive enough to the price change for it to make a world of difference.
It's up to you to find the optimal price point that maximizes Price * Quantity.
