You’ve thought about it every year. You’ve invested your time in taking classes, learning new skills, and amping up your studio. It’s the elephant in the room, but we all know we have to confront the question…”Should I raise my prices?” Answering “Yes!” may seem like a scary thing to do, but it shouldn’t be. At GlossGenius, we’ve worked with thousands of beauty professionals (including hairstylists, barbers, nail artists, estheticians, makeup artists, and more) who have successfully taken the leap and raised their prices. We’ve compiled expert research and proven tips to help you confront your fears, know your worth, and not be afraid to raise your prices!
Whether you’re a recent graduate of cosmetology, beauty, or barbering school and this is your first time, or a seasoned professional with a devoted clientele that you’re afraid to lose, price changes are a fact of the industry. The very first step is to get past any fears, worries, and doubts that may be holding you back.
“It is the number one thing hairdressers have been dealing with. You aren’t ‘screwing your clients over by raising your prices. You are charging what you are worth. It’s the price of doing business. The cost of goods goes up.” – Hairstyling icon Tabatha Coffey in Salon Today
So, let’s take this hairstyling superstar’s advice to heart and get started!
Most beauty professionals think that raising prices is such a BIG deal. We’ve heard it all, from the fear of losing clients to wanting to avoid awkward conversations. If you’ve ever asked yourself any of these questions below, you’re not alone. These shouldn’t hold you back, though. Consider what these salon experts’ responses were to some of these questions:
As long as you’re delivering high-quality results, they won’t. Some will, but they’ll be offset by the higher prices and new clients. Hairstylist and owner of Epic Hair Studio, Christen Eddy Gill explains that “the goal of raising prices is to lose some people and make room for a higher paying clientele.”
Every year, you improve your skills, go to trade shows and take courses, and therefore deserve more in return for your services. It’s important to remember the cost of living also goes up every year and you need to keep up (check out just . by how much through the consumer price index). Inflation is nothing to scoff at!
It may feel awkward at first, but if you practice and let your clients know early (around 2 months beforehand), it won’t feel that way! Follow our instructions on how to announce your new prices. As salon business consultant Lauren Gartland explains, “It's important that your guests see it at least once before the increase is effective." Communication is key, so don’t forget to use our letter template!
You’re your own boss now. You’re an artist with your own hopes, dreams, and accomplishments. When the time comes, embrace it and own your worth; charge your worth! Business coach Jenny Shih believes that always charging less than your teachers “is limited thinking, and it’s all too common. We all learn from teachers. Those teachers charge a certain amount of money. But as the saying goes, at some point the student becomes the master...If you’ve become a master in your field, please don’t let someone else’s pricing cap your pricing. That’s ridiculous!” Limitations are bad, so be open-minded and break free of anything holding you back.
Have no fear, you’re not alone! We’ll walk you though how to set your rates just right in this article, How Much Should I Raise My Prices? A Step-by-Step Guide. Educators, salon owners, and solo stylists can rest assured knowing that they’ll find trusted and time-tested advice.
So remember, raising your service prices isn’t a big deal if you keep calm and plan ahead. Be confident and reflect on what you’ve accomplished this past year, your goals, and whether or not you’ve been feeling burnt out. With that knowledge in hand, it’s time to figure out the next steps for your salon and career. Read How Much Should I Raise My Prices? A Step-by-Step Guide to find out more!
P.S. Still unsure if now is the time to raise your prices? Our article Telltale Signs that It’s Time to Raise Your Prices describes when it is.