High gas prices - did you raise your travel fees?

Looking For Advice
1

I raised my travel fee by $25. It had been the same fee since I started my business in 2022. I just can’t anymore with $6 a gallon in the Bay Area. Anyone else?

2

I get that you raised your “travel” fee, but I’m not sure how one actually does that and more importantly, is anyone paying it?

3

When doing loan signings, there is no “travel fee”. I just raised the price of my counteroffers to cover extra gas expenses. It’s much more straightforward that way when dealing with signing services and title companies. I do very few “general notary” appointments, so I will deal with travel fees on those on a case-by-case basis.

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4

I have raised long distance fees. Fewer notaries are going far so it is getting accepted.

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5

If viewing the fee increase strictly through the loan signing lens, it might be challenging for the Signing Services or Title to embrace. However, it’s quite straightforward from a mobile general notary work perspective. I’m also about to raise my travel/service fees due to the price of fuel increasing >30% in the past 4 weeks (although not an additional $25 per visit, more like $10-$15). I stay busy enough doing LSA work, but the better profit (if evaluated as net hourly profit) comes from GNW.

6

I’ll clarify. This is not about loan signings. I’m talking about GNW.

7

Considering the nature of our businesses, whether we are providing general notary services or facilitating loan signings, the impact of escalating fuel prices and raising supply costs is consistently felt. We face a clear decision: do we tolerate a reduction in our profitability, or do we implement measures to transfer the increased expenses associated with running our operations to our clients and the companies we work with? Considering the current economic climate and the undeniable increase in fuel costs, it’s become increasingly apparent that businesses, regardless of whether they specialize in general notary services or loan signings, must adapt to these changes. Failing to address these rising operational expenses will likely result in a sharp decline in profitability, and ultimately, could lead to the demise of the business.

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