Industry pricing - Know your worth
I was recently asked a rather important and valid question...
“why are professionals afraid to publish their prices online for all to see?"
The questions makes me stop and think.. when someone comments on our pictures asking "How much?", why do we automatically respond, "DM or PM". Why do we find it hard to respond to these questions publicly? Who are we hiding from? Is there more to this topic than we think?
My theory is that perhaps we charge our clients all different prices and don’t want to put people off? With many nail professionals having one price for long term clients and different prices for new customers are we scared of revealing what we value our time at?
Knowing the aim of being in business is to maximise profit and earn a steady living and good clients should know your worth why don’t we feel embarrassed by revealing them?
After asking myself and others its apparent we shouldn’t be ashamed or worried and perhaps we should embrace sharing our pricing to help businesses be less afraid to charge their worth. Charging your worth isn't about being the most expensive, it's about calculating your services in order to get the most value for you and your customer.
My top tip is when posting your fabulous nail pictures is to perhaps add a service list which includes the price of the service, this will let the customer know exactly how much you are charging per set, it will eliminate any awkwardness regarding money plus it will give your customer confidence in you and the treatment you are providing.
My top tips how to be more confident with pricing your services:
• BE REALISTIC - Keep your prices realistic, charge what covers cost plus your time, not what other salons are charging.
• CONSIDER INFLATION - Inflation affects cost of business from materials, overheads etc.. increase prices once a year allowing plenty of notice to your clients.
• PROVIDE A QUALITY SERVICE - Clients aren't always looking for a cheap service, many clients will pay for speedy services, good quality, excellent knowledge and advice.
• DON’T UNDERVALUE - be careful not to charge too less as low prices can turn clients off your business.
Once you VALUE your work so will your CLIENTS don't be afraid of sharing your prices with pride.
Charge your worth