Initiating a price increase as a hairdresser is nerve-wracking at any time of the year, but it's crucial to know what your hair services are worth and price them accordingly. Here, Matrix Artist, Terry Longden shares his tips on how to increase your prices...
1. Never apologise for knowing your worth. Explain the reasons for the price increase as a goal to continue to create a professional and safe environment to provide an expert service, professional products and advice.
2. If you’ve decided not to increase your prices at this point in time it would probably be an opportunity to pre-empt the subject for a later date in the year, as you will need to address the financial shortfall sooner or later.
3. Be realistic and open with your clients – prices everywhere have gone up, so explain to them that you have had to react accordingly. They won’t be surprised and most will be happy to pay a small increase.
4. When deciding whether to raise your prices, try not to overthink it and work in easy to understand and explain percentages. Smaller percentage rises are easier and less shocking to clients to implement more frequently) so for example, 5% = £5 added to a £100 bill, 10% = £10 added to a £100.
5. One of the best ways to address the issue of a client who isn't happy with the proposed price increase is to offer to introduce them to another stylist in your salon that works on a lower price bracket; by doing this you can free your time up for new clients whilst your salon still retains income and your other team members can increase their client base, experience and commission. This plan can be also beneficial to the client as you are giving them ‘choice’ that they are still very welcome at your salon, but have your blessings to have a ‘hair affair’ with another stylist – but they still have the option to return to their ‘first love’ at any time.
If you're a hairdresser and are unsure on how to calculate a price increase, why not check out these tips on rethinking your pricing strategy?