4 Tips To Raise Prices, Increase Retail Sales & MORE!
How To Raise Prices: 4 Ways To Increase Revenue
We know it can be tricky to increase prices, but it’s essential that your pricing is aligned with salon upgrades, continued education, personal demand and more. So, we’ve created a guide to help you enhance your client’s experience, sell more retail and everything you need to know about raising prices and making more profit.
1. How To Increase Prices: Start Here
First, take a look at salons in your area and calculate their pricing average to use for your own reference. Make a list of the most popular salons around you and plug their service prices into a spreadsheet. Then, divide the total by the amount of services you listed.
Check out an example below:
After your calculations, you need to also account for any salon upgrades you’ve made. Your (ideal!) clientele will appreciate a custom, comfortable salon space as it adds to their experience. If you need inspiration on upgrading your decor to enhance the client’s time in your chair, here are some ideas to get you started:
- While clients process, offer a hot towel for their hands, neck or arms for ultimate relaxation while they wait at the bowl. Shop Minerva Beauty’s salon towels, UV sanitizers and hot towel cabinets here!
2. How To Write a Salon Price Increase Letter
Communicating the price change can be the most intimidating part of raising your prices, but we have an example to make it easier for you! Screenshot this salon price increase letter for when you’re ready to make the move:
3. Sell More Retail With These 6 Tips:
An easy way to make more money is to sell more retail! How? Here are some tips:
- Have an extensive, customized haircare consultation with each client
- Use the products you recommend on their hair so they can see the effects in real time
- Offer small samples for your clients to try the products at home
- Offer promotions like a BOGO 25 percent off
- Follow-up at every appointment to ask clients how they are liking their at-home haircare, if they need to restock or address any questions or concerns
- Catch your client’s eye with beautiful, organized displays in high traffic areas. Check out some examples below!
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4. Include Valuable Services With a Price Increase
Instead of offering services with add-ons, start building complimentary add-ons into EVERY service. This will not only soften the impact of a price increase, but also keep clients feeling extra special and cared for.
- Hair mask or treatment
- Neck and shoulder massage
- In-depth haircare consultation
- Wine, champagne or sparkling water and snacks
- Free product samples
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