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 . . .
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!
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