Fair Pricing: A Fundamental Vohra Principle
A Message From Our Founder
The first business lesson I learned was from my mom. She told me about a very successful shop near her childhood home in New Delhi.
In India, it's standard to set prices randomly high, and then charge people differently based on negotiation skill. This particular shop, however, had fair, set prices. Anyone – a child, an American, a local, or the owner's siblings – paid the same prices.
That meant people could send their kids to buy groceries, without worrying that they would be ripped off. It meant that rich people didn't have to put on rags to get lower prices. It meant busy people didn't have to waste hours haggling.
I learned a similar lesson at my first corporate job, at GEICO. Their first rule: fair, accurate pricing. That everyone paid the same rates, based on their risk profile. That included executives at GEICO. That's one reason why GEICO, and its parent company Berkshire Hathaway, are both successful and effective companies.
When I started my own tutoring business in 2001, I decided to do the same. I would charge everyone the exact same price for the same service.
This was, incidentally, the exact opposite of what every single other tutor was doing. Those with more experience thought I was nuts. Common practice was to keep prices unlisted, see the size of a client's house or the type of car they drove, and then estimate a price. I put my prices right on my website and brochures.
Today, we keep our commitment to fair, aboveboard pricing. Everyone pays the same price for the same service. That includes my own family – most of my cousins have come to Vohra Method classes or tutoring, and even they pay the same price.
If you have any questions about this or anything else, just send us an email.
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