The Intro Bit . . .
You think you should raise treatment or service prices in your salon . . . but how do you know if now is a good time to think about increasing your prices? I know . . . raising prices is scary, but the first step in the process is to be sure its the right time to do so. This episode can help . . .
[themify_box style=”yellow announcement” ]Download the Worksheet to help to know if it’s high time you looked at raising YOUR treatment prices and increasing your profit at the same time! Click Here[/themify_box]
The Show Notes . . .
On todays episode . . .
- Is there a right and a wrong time to raise your prices?
- What to look out for?
- The exact formula to know if now is the right time to raise prices in your beauty business?
The 80:80 Rule of Price Increases . . . . more important than a long deceased Italian economist!
- You should be at least 80% fully booked for at least 80% of the time . . . but make sure you calculate this correctly!
Column One – Number of Hours Available Each Day (for you and your whole team)
Column Two – Number of Hours Booked Each Day (for you and your whole team)
Here’s an example of what your list should look like . . .
Here is what the formula would look like to work out your Daily % Utilisation:
Now your list should look like this:
Here is what the formula would look like to work out your % of Time you are fully booked:
So how did you do???
Look out for the free LIVE Webinars all about “Pricing” where you will be able to ask your questions and get them answered right there!
Details of Webinars: Coming Soon!
If you would like to find out about the Webinars as soon as they are announced make sure you follow us on social media:-