In business, you can charge whatever you want. You can even be the MOST expensive lash artist in your community and be wildly successful. In fact, the higher-priced studios are typically busier than the bargain-priced ones. The key is to offer more value than you charge. So, if you want to charge top dollar you can! Just make sure you justify your prices with results, atmosphere, an excellent customer experience, product consistency, and as many perks and benefits as you can squeeze into a lash appointment.
Begin preparing for the increase a few months before you plan to implement it.
Here is a simple bullet point list of the basic process for raising prices:
Ask clients for testimonials and publish them so you have social proof of the value you offer and the results you provide.
Will your price increase be substantial enough to affect your client list? Will you lose some people? If so, update your marketing strategy to attract a new, more ideal client.
Do the math and make sure your new prices will be profitable for the foreseeable future. You don’t want to have to do an increase again for a while.
Give a minimum 2 months notice to your existing clients and announce it on all of your existing price lists. (“New prices will be implemented as of <insert date here>.)
Most of all, know WHY you’re raising your prices and don’t feel bad about it. You are allowed to be profitable. You work hard and provide great service to your clients. You deserve abundance. Besides, if you’re not profitable you won’t be in a position to serve anyone! Price your services correctly so your business is sustainable for you AND your clients.
Disclaimer: This blog is intended for informational purposes and is not intended to replace formal business advice, financial advice, government regulations, or any other form of legal advice.