Raising prices as an independent beauty professional may feel scary but it doesn’t have to be! You know how much you and your services are worth and it’s just a matter of asking yourself the right questions to get there. In this blog post, we’ll walk you through those questions and how you can find the answer.
Your base price is a starting point for your spa and salon prices. One way to set your base price is by looking at all of your salon’s monthly expenses. This should include your rent, electricity bill, products, tools, and anything else you need to keep the lights on and doors open. Then, look at the average number of clients you see per month to calculate your base. It's up to you how you want to calculate your base price by either monthly, annually, or even hourly!
It’s important to understand your area’s average household income so you don’t undervalue yourself when your area can pay a bit more for your beauty services! Do some research on other independent pros around you and what they charge.
With GlossGenius, it’s easy to have transparent pricing with your clients with your online booking website. You can display all your services with your set pricing or a starting point.
Whether you’re just starting out or have been in the game for years, think about how your pricing reflects all of the experience and training you’ve had up until now. If you’ve invested in further training, charge for it! Your craft is only getting better and better which means your services are worth more.
Bonus Tip: Increase your average ticket with each client to make more money.
An effective way to increase revenue can be to focus on your existing clientele. You’ve spent time establishing a relationship and have developed mutual trust. These customers are more likely to consider add-on services.
Consider offering their first add-on as a complimentary gift. Try a free deep conditioning treatment or when applying product, place it in their hands to hold and smell. If satisfied with the results, they may consider adding to their usual services.
Take a look at your average ticket sales and monitor them on a regular basis. You can access this information through GlossGenius Reports. It can help you decide how to tweak your costs to increase revenue with your existing resources.
With the right approach, telling clients about your raised prices will feel like you're just sharing the news vs. breaking the news. Take a positive approach to inform your clients of a price increase. You’re reaching a new milestone and as your clients, they’re with you for the ride. They’ll share in your excitement for what this new chapter means for them too; e.g. higher quality of products, safer protocols in your workspace, and continued improvement of your own skills with time and education.
Use GlossGenius to update your clients with the news. Here’s how Skyler Schrader sent her customers notice of a price increase.
It may seem a challenge to increase your pricing. But you deserve to earn what you’re worth and not undervalue what you have to offer! As your reputation and experience grow, you’ll begin attracting new clients who’ll opt for luxury services. Know what your costs are, leverage your VIPs, and share your enthusiasm with your clients and you’ll soon increase your revenue and quality of life while also benefiting your beloved customers.
For more information on raising your prices effectively, check out this webinar by the fabulous GlossGenius educator, Skyler Schrader.
No credit card required.