Tired of scraping by and dealing with crappy clients for low-end rates? Runway Lash Co. business school is in. Whether you're a solo lash artist or salon owner; learn how to raise your lash salon prices without freaking out!
Here are our three red hot tips to increasing your salon prices like a pro-business owner.
Tip #1: Know you're worth every dollar + more
To run a successful lash business, the service you deliver must be the best - YOUR best. Not the salon down the street's best. Not your pal's best. You must know you're brilliant at what you offer. And if you have a team, they need to believe that too.
You must have a success mindset. because if you don't believe in your work, why should clients come to you?
Before you raise your prices, be exceptional in all facets of your service. Practice your craft, invest in yourself and deliver results that qualify the price you charge.
Provide a service that goes beyond a client's expectations.
Tip #2: Know your brand's market position
Often, lash artists are too scared to raise their prices. They believe all their clients will stop coming. Thats not true. However, bumping up your prices comes with a caveat.
We recommend raising your prices at least every 12 months, as the cost of overheads and wages rise each year.
Not sure what to charge? Analyse the current market pricing in your area.
Before that, know where you sit in the market. For example, do you want your services to be "affordable", mid-range", or "luxury"? They all have their place and merit, but you must know where your business sits to ensure that your pricing is aligned.
Clients expect to pay more when they are booking a service at a luxury salon. However, if you position your service as "affordable", you're likely to raise some brows (not in the right way!) if you charge premium rates.
If you are you booked out for 80% or more of your salon work time, you need to raise your prices. Work smarter, not harder, i.e. charge more and see fewer clients.
Even if you lose a couple of clients because of a price increase, your income will remain the same - or possibly even be higher.
More importantly, you'll have created space for new clients that are happy to pay your rate!
Tip #3: No need to shout about your price increase
Do not announce your price increase to your clients!
Does Woolworths or Coles personally let you know each time one of their products goes up in price? Hell no! You don't need to either.
Your clients will either pay because they love your service and believe you're worth it. Or if they cannot afford it, they'll leave. Either way, as per Tip #2, you've just made room for new clients.
Oh, and when you raise your rates, do it across the board - no preferential treatment for old clients... you know, "the ones that have been with you since the start.." If anything, they're the ones who should be happy to pay more because they know how awesome you are - they're your regulars, right!?! Every client should pay the same.