If you’re making the transition to a salon suite from working in a traditional salon or spa setting, you may be wondering if you should raise your prices and how. Some beauty professionals may be nervous to raise their prices because they don’t want to upset their clients or cause them to go to another stylist. This is understandable, but as an independent beauty professional it is so important to charge what you’re worth.
You will be providing your clients with an upgraded experience in your salon suite. They will have the opportunity to enjoy your one on one attention, a private setting, and an experience customized just for them! Not only that, but if you are thinking about raising your prices, you’ve probably invested time in classes and learning new skills.
Lastly, you are now running your own business so your time is more valuable than ever! Here are some tips on if you should raise your prices, how to raise your prices, and also how to break the news to your clients:
Signs that you are ready to Raise your Prices:
Your income does not go as far as it used to because the cost of everything is rising.
Clients are consistently offering you large tips.
You’re feeling resentful from spending so much time and energy with clients who aren’t paying enough in return
You’ve taken multiple classes and spent time learning new skills and techniques
You’ve been in the industry over 5 years and have perfected your skills (experience = more compensation)
You’re located in a more expensive neighborhood with clients who care more about quality than cost
How to Raise your Prices:
Start with a 10% adjustment across the board on all services and then adjust from there
Start by charging only new clients the new pricing to see if its well received (did they seem surprised by the price or did they had over their credit card without hesitation?)
Time it well. Increasing your prices during a busier time of the year when it’s more difficult for clients to book an appointment elsewhere.
Announce your Price Increase:
Inform your existing clients a couple months before the price increase goes into effect
Consider writing a letter that can be sent out through email or social media explaining the reason behind the price increase (ex: services more in demand, in line with price increases on products you need to perform your services, additional education and training, etc.)
Update the pricing on your website or booking app
Lastly, do not ever apologize for raising your prices. Own it! You have put the work in to make it to this point and you deserve to earn what you are worth.