The Convenience Fee is real, and it’s being charged all the time.
The problem with the Convenience Fee is figuring out how much to charge for it. Once we figure out how much to charge for it we must stand firm on the price.
If you don’t want to read about it you can listen here.
What is the convenience fee?
Let me explain the Convenience Fee with a few examples.
You have running water in your house so you incur a water bill.
The alternative would be, of course, to find a body of water to wash our bodies and clothes.
Speaking of water, instead of living near a spring you pay for free water to be bottled up.
This is true of electricity in your house and the vehicles that you travel in.
You pay the “Convenience Fee” for the car you drive so you don’t have to walk or bike to work, school, or to visit your family.
All of this you know and you accept it.
Can you give examples of this fee?
In some cases, you are charged an additional premium for a convenience within a convenience.
Let’s take Walmart for example.
You can buy a 20oz. soda for $1.58, but it’s cold.
Now consider the $1.38 for a 2 liter of soda that’s room temp.
For the convenience of the cold drink, you not only get less, but you’re charged more; that’s a double whammy.
The Convenience Fee is all around us. We have gotten so used to paying it, we pay it without thought.
Properly valuing this Convenience Fee is why executives at Walmart have a billion reasons to be happy.
Properly valuing this Convenience Fee is why executives at 7-Eleven have a million reasons to be happy.
How much do you charge for your Convenience Fee?
You don’t because you feel it should be free, so you give it away.
Maybe you have not been properly charging the Convenience Fee for so long you don’t know how much it’s really worth.
To not know how much to charge means you don’t know your value in the marketplace.
Walmart and 7-Eleven take the consideration of a bunch of factors in order to properly charge us for the convenience.
You don’t even know what convenience to which I AM referring. Let’s go!
It’s Friday or Saturday night.
He’s gone out with the fellas and has been doing a bit of drinking.
The elixir has his body working and in need of some company.
He picked up his phone and began to scroll through the roster.
He calls you.
You come over.
The two of you, of course, shared emotions.
The next day there may or may not be breakfast.
How much did you charge me for having the convenience of being able to call you in the middle of the night?
How much did you charge for the premium on premium, like 7-Eleven, for us sharing emotions?
I’m not saying that you charge money like an escort or a prostitute, but the thought process is the same.
They get paid the high dollars because they know how to properly charge for their convenience.
How much is your time worth?
How much are you worth?
Once you figure it out, demand it, as cheap as Walmart is you can’t bargain down the cost.