Picture yourself standing at the base of Niagara Falls. Rushing water with unpredictable speeds, bouncing off of rocks and propelling itself into a tiny, thick mist. The water ebbs and flows with the rainfall and hot sun, very much like the economy as we know it today. With those shifts come pay increases and inflation. If you’re thinking about raising your salon’s prices, chances are it’s high time to implement that new services menu.
Reasons why you should consider raising your salon’s prices
We’ve collectively experienced one of the biggest economic shifts of our lifetime in the last few years. Teetering between a pandemic-influenced recession and a time of financial independence for the first time for many, prices everywhere began sliding all over the scale. Delivering high-grade products to your clients doesn't have to come with a sacrifice, and most of your regular clientele will expect a bit of a price increase.
Inflation raising your bottom line costs
As a business owner, you know all about the implications of a giant overhead. As inflation contributes to costs rising all around, figuring out how to pay bills, yourself and your staff becomes a pressing concern.
You’re experiencing too much business to handle
Sometimes changing your salon’s prices can support thinning out those who aren’t necessarily seeking out your services. They may be customers who would be just as happy to have a referral to another salon, and sometimes, that’s your best-case scenario. The truth is that the more your daily volume grows, the more your business grows – but only when your prices reflect your staffing and product needs can this be beneficial to you.
Upsell services and offer product bundles
When you package your products and services, you give people the gift of variety. Maybe one of your clients didn't know how much they needed a certain product – but because of that bundle, they’re able to diversify their at-home shelves.
If you can’t afford to raise prices, lower product cost
Connecting with a wax supplier that prioritizes quality and cost simultaneously is your golden ticket. It means that You’ll be able to offer top-tier services with professional products that reflect the pride you take in the work you do.
How to raise prices without losing customers
We know firsthand what it feels like to be a long-term customer at our regular spots. When prices go up, being intentional about the way you roll out your new services can act as some extra padding to prepare your clients for what’s next.
Announce your price increase ahead of time
If you’re on the precipice of a price increase rollout, showing your customers you appreciate them is a great way to honor your rapport and maintain those special, working relationships. Starting with a rate increase letter with your effective date listed, you can also consider hosting an appreciation hour for your customers to thank them for their business and continued support.
Trust in your service and superior quality
Your devoted clients are the ones who echo your business's quality through word of mouth. They’re walking advertisements for just how much of an impact your salon has had on their self-confidence and self-care. When you believe in your own value, you radiate that will to succeed in every corner of your business. Your clients will feel the capacity you have for their satisfaction, and that in itself is invaluable.
Explain the benefits of price increases to clientele
It might sound like a daunting task to explain what price increases will look like to your clientele, but it doesn’t have to feel like pulling teeth. The truth is that price increases a lot for things like professional development, more schedule availability and higher quality services. Explaining this to your clientele means frontloading them with the information they need to process and choosing to remain a customer because your work speaks for itself.
Shop high-quality, affordable waxing supplies at Bare Beauty Wax Supply!
When you choose Bare Beauty Wax Supply, you give your salon the chance to offer top-shelf products at a reasonable price without sacrificing anything in between. If you’re ready to stock the shelves, connect with our website today to get started.