0
Articles > 5 Ways To Reevaluate Your Pricing
April 30, 2020

5 Ways To Reevaluate Your Pricing

close formula

How To Reevaluate Pricing During COVID-19

Let’s talk about pricing in a COVID-19 world. As salons reopen, stylists are switching up their service prices. We’ve found that you have three post-quarantine options: Keep prices the same, raise them altogether OR reevaluate your current pricing and make some adjustments. Below, we’re breaking down the third option and sharing ways to adjust your pricing so you can still make a profit without a major increase. 

 

Do you have questions about managing your business through COVID-19? BTC has answers! Tune in to The BTC Show, An ONLINE 2-Day Event for multiple classes on financial and business strategies from experts. CLICK HERE to register!

 

Pricing Color Correction Services

Despite your best efforts, some clients may not have been able to resist an at-home box dye sesh during quarantine. So now is the perfect time to bump up your color correction pricing, and there are two ways you can do it:

 

  • Charge by the hour: This is what Gina Bianca (@iamginabianca) does and she typically charges anywhere from $120 to $130 per hour. “It will help you so much and ensure you’re not giving away hours of service and ounces of product,” she shares. 

 

  • Base it off the price of a root touch-up: If a client wants platinum hair and they have regrowth, Roxy Akopyan (@roxybeautytouch) bases the cost off the original price of a root touch-up. “My root touch-up for every 4 to 5 weeks is $200 to $250, so I just add that up according to how many weeks of regrowth they have and charge an additional $100 for the technique used,” she explains.

 

 

Properly Charging For Time & Product

If you’re not ready to raise your praises altogether, charging for time and product used is the next best thing—especially since most guests will have more regrowth than normal. Josie Vilay (@josievilay) recommends using an app that measures out the exact color usage on the scale and shows you how much money it costs. Then, mark that price up by 50 or 100 percent.

 

“In our salon we mark it up 100 percent because 50 percent goes back to color and the other 50 percent goes toward backbar costs like foils, shampoo, styling products and helps pay receptionist and junior stylist wages,” she shares.

 

How To Price Specialty Blonding Services

When was the last time your specialty blonding service prices saw an update? Of course, factors like location and experience contribute to pricing but here’s a helpful guide Lo Wheeler Davis (@lo_wheelerdavis) recommends for partial highlights, full highlights and a total blonde transformation:

 

If she wants partial highlights…

  • Average price: $200+
  • Average chair time: 2 hours

 

If she wants full highlights…

  • Average price: $300+
  • Average chair time: 3 hours

 

If she wants a blonde transformation…

  • Average price: $400+
  • Average chair time: 4 hours

 

 

 

Don’t Underestimate Add-On Services

Add-on services are about to be your bread and butter as you work to make up for all the time in quarantine. Everything from custom treatments to glosses can be charged as an add-on and trust us, they really add up. One of the first things Grace Joo (@colorwithgrace) asks her clients is how their hair is feeling, then she’ll recommend an in-salon treatment to keep their strands healthy. “A standalone treatment is $50 and an add-on to a haircut is an extra $25,” she shares.

 

11 Genius Tips For Pricing Salon Services BTC Business Article
Need more proof add-on services are worth it? Here’s a revenue break down Lindsey Little (@bangbangbalayage) shared for a $40 gloss add-on. // Instagram via @bangbangbalayage

 

Curls Are Also Extra

Yes, you read that right. An easy way to make more money is to charge curls as an add-on and Gina says it’s as easy as adjusting your haircut price to include it. Here’s how she breaks it down:

 

  • 4 curls [styles] a day at $15 for each add-on = $60
  • 5 days a week = $300
  • 52 weeks a year = $15,600
  • Divide that by 12 months = $1,300/month extra

 

Wondering how other stylists plan on adjusting their prices, if at all? CLICK HERE to see what the BTC Community had to say!