Pricing for Profit 🤑

Are you worried you have the wrong prices for your salon treatments and you could lose potential clients? Or maybe you’re afraid to even try to figure out a price for your products and services because you’ve convinced yourself the only option is a ridiculously low price that barely feels worth your time?⠀

When we get sucked into our fear of failure, it can be incredibly hard to take a step back and think about how to build a beauty business from a more profit-driven point of view.⠀

Part of the problem is our services often feel like a manifestation of us – our ideas, our process, our creativity – so the fear of rejection suddenly becomes personal.⠀

For example, if a client doesn’t like the news of a new price increase, or just doesn’t like your product prices for one reason or another, does that mean they don’t like you? Absolutely not! ⠀ Remember what we covered in last months ‘Sell Like A Boss’ training… your products and services are a potential solution to someone’s problem…

THRIVE NOT JUST SURVIVE!

It’s what we all aim for, isn’t it? We want to THRIVE in life, and have everything we’ve ever dreamed of. It’s all in the mindset! Here at Beauty Boss, we start all of our training addressing the barriers in our own minds that are stopping us from achieving our goals.

The FIRST thing you need to decide is what thriving looks like to you. Being ‘financially comfortable’ will look different to everyone, and so the first thing you need to do is decide what it means to you. Do you want to be able to put your children in private education? Or maybe you want to become a home owner? Maybe you want to be able to go on holiday twice a year? It really does look different for everyone, but you need to figure out what it is you’re trying to achieve in order to adjust your pricing to make steps towards this.

The second thing you need to do is remind yourself that your clients are not your friends! It may feel like they are sometimes, because you talk so openly with them and often you can become very close, but ultimately you need to remember they are CLIENTS, and their money is how you are going to pay your rent and put food on the table. In day one’s LIVE ‘Thrive Not Just Survive’, Layla talked about ‘Legend Clients’, these are the ones who book in time and time again, you’re seeing on a regular basis and often they are buying very profitable services from you. You might find that when you put your prices up, they’re the first ones to make a snide comment. Yes, this is disheartening, but this is when you have to remember they are just a client! If they don’t want to pay your price increase, then good riddance to them! You can use the time that you would be performing this treatment to do ‘high value activities’ such as Instagram marketing, which is going to make you MONEY.

 PRICING PROBLEMS

One of the main reasons that salon owners can be in a position where they are barely breaking even, or sadly, working at a loss, is because they are pricing their services based on what other salons near them are charging. It can be easy to assume that because they are offering similar treatments, they have a similar size salon to you, they have the same number of staff as you and they are in the same area, that you should be charging the same as them. Right? WRONG! You have no way of knowing whether their rent is the same as yours, or what brands they’re using, or whether they are even making money themselves! Basing your pricing on what others are charging is completely pointless, because your situation is completely different to anyone else’s!

Another major pricing problem, is basing your pricing on your LOCATION! There is no point in thinking that just because you work in a small village, you have to keep your prices really low! It is time to let go of that thinking. A better way of thinking is “how much do these products cost, how much do I want to pay in other outgoings and how much do I want to pay myself, in order to live the life I want to live?” Once you start thinking this way, this is when you will start to make money.

If you didn’t catch this week’s Pricing for Profit training (it was a good’un!) you can still catch them all here: https://www.facebook.com/groups/beautybosshq/permalink/322728962056522/ Check out the testimonials below!

and while you’re there, don’t forget to join The Beauty Boss Community, to be the first to find out about future training!

TESTIMONIALS

🌟 “Feeling a bit overwhelmed with everything I need to do so getting help from your LIVEs has been awesome! I love your honesty, I was giggling through a fair bit of that!” – Samantha Zavad, Wiltshire

🌟 “I’ve loved this training. Can’t wait for tomorrow’s and then this weekend I’m going to sit down and work out my new prices properly. Massive thank you to Layla for the encouragement, training and positivity!” – Tracey Bird, Heathfield

🌟 “If only you could have seen me after your training today Layla I was so pumped!! Went straight into where my hubby was working and gave him a speech of why I am worth more!” – Rachel Brislane, Stockport

🌟 “That was such a good training session!! Thank you so much… listening to you has given me more motivation for my business” – Amy’s Beauty Spot, Dorset

Are you following us on Instagram? Our amazing brand strategist Charlene uploads great resources and graphics there! You can find us at @beautyboss_hq 💕

 

Until next time, keep bossing it!

Team Beauty Boss x

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