The Intro Bit . . .
How did you set the prices you charge for your treatments in your beauty business or salon?
Did you make one of these classic mistakes?
Don’t worry if you did . . . it’s perfectly normal to do so. It could mean that your prices are too low and in this episode I explain exactly why.
I also tell you about the ONLY thing that matters when setting your treatment prices!
The Show Notes . . .
The Assumption I made about your prices (from the last episode) that could affect just how effective a price increase could be for your beauty business, salon or spa.
How did you set your current prices?
Why have I called this episode The 4 Pricing Mistakes Salon Owners Make?
:: The Drop In – Adam interrupts himself ::
I’m not trying to catch anyone out here . . . I have been guilty of at least two of the 4 mistakes myself!
The Good News: Your prices are probably too low!
Pricing Mistake No. 1: Cost Based Pricing
Why cost has NOTHING to do with price!
A couple of examples to prove my point . . .
Pricing Mistake No. 2: Competitor Based Pricing
Charging slightly more vs. charging slightly less (and why both are wrong)
[Adam goes of on a rant . . . . ]
Link to Getting the Right Clients for Your Salon: 99 Clients in 33 Days
Pricing Mistake No. 3: Best Guess Pricing
Why this is more dangerous than Competitor Based Pricing!
How perception can damage pricing.
An Example to prove how perception can affect pricing . . .
Pricing Mistake No. 4: “What we charged last year . . . plus a bit!”
Inflation is NOT a reason to raise prices!
A Note about the example in the last episode.
So how should you price your treatments?
The ONLY way to price your treatments for maximum profit!
Does the buyer who likes a house most pay the highest price?