The Tough Question: How Do I Set and Stick to My Prices?
Pricing, Pricing…… and more Pricing
This week we’re tackling money problems, and the big one is: Are you making money in your business? I created a worksheet to help you figure out your overhead costs and see where you stand. If your numbers don’t make sense, it’s time to get serious and take the necessary steps to create a profitable business.
First off, you must set your prices and stick to them. Don’t undersell yourself. Even $5 can make a difference—don’t cheat yourself or your family out of it.
When should you raise your prices? When your overhead increases and your talent grows. If you’re a new beauty artist, set a price list you can grow into over the next 6 months. Avoid the first price increase within a year; it’s often the hardest one. Your prices might feel high, but don’t worry—clients will know what they’ll pay after your specials end, and this helps you grow your client base.
Raising prices can be scary, but make it simple. Celebrate your raise and share it with clients: “Check out my new prices and policies!” Post it on an easy-to-find webpage (I recommend Weebly!) and NEVER apologize. You’re excited about your growth—show it! Clients can sense hesitation, so be confident!
Remember, you attract the clients you are. If you want reliability, be reliable. If you want clients who prioritize you, prioritize them. My clientele is full of like-minded women who share my values and priorities. Be the artist you want to attract.
Lastly, believe in your worth. If you don’t, no one else will. You’re worth every penny.
Got questions? Drop them below!
Im new to the nail industry but have been in the service industry for over 22 years. In my private practice business I averaged over 90.00
an hour between insurance, could-pays and self-pay clientele. After moving I decided I would only accept government insurance and charge a flat 35.00 fee. I had earned my doctorate (so highest education) and lost money. Not because I wasn’t good- rather clients felt my pricing directly reflected on my abilities.
Don’t bevafrsid to ask for a what you are worth!
Im new to the nail industry but have been in the service industry for over 22 years. In my private practice business I averaged over 90.00
an hour between insurance, could-pays and self-pay clientele. After moving I decided I would only accept government insurance and charge a flat 35.00 fee. I had earned my doctorate (so highest education) and lost money. Not because I wasn’t good- rather clients felt my pricing directly reflected on my abilities.
Don’t bevafrsid to ask for a what you are worth!