Want To Make More Money? Read These 3 Tips
3 Tips That’ll Help You Make More Money Behind The Chair
Let’s be real, who doesn’t want to make more money? If you take a closer look at your business, you could find opportunities to make even MORE! For salon owner and BTC Team Member Rochelle Golden (@rochellegoldenhairstylist), there are three factors that can affect the amount of money you make—charging your worth, factoring in extra products and putting an end to complimentary services. Keep reading to learn more!
1. Charge Your Worth
You’ve probably heard this phrase a lot, which shows just how important it is. The easiest way to make more money is to raise your prices, but you should only do it when the time is right. So what determines if it’s time to charge what you’re worth? For Rochelle, there are so many contributing factors like the experience you provide clients, the ability to go above and beyond for your career, attending education events and having a strategic approach to every session. If you’re excelling in any of these areas, are a specialist/expert in anything OR have a waitlist, those are strong indicators that it’s time to raise your prices.
2. Factor In Extra Product Usage
It can be easy to mix up extra lightener and not think about adding that cost to your client’s total, but it’ll only hurt your annual income in the long run. Think of it this way: If you work five days a week and don’t charge one guest each day for the extra product you’re mixing in, you just shorted your annual income by about $3,900+.
That’s why Rochelle says she coaches her team on being extremely honest about product usage and true service. At her salon, House of Gold Salon in Netcong, N.J., they’ll price out an entire ticket prior to mixing so the guest is aware of all additional changes that could arise. That way, there’s no surprises or angry clients when it comes time to pay and you don’t miss out on easy extra cash.
3. Offer Discounts, Not Complimentary Services
Have you ever given a client a trim on the house? A haircut is $50 at Rochelle’s salon, so if she didn’t charge two clients each week for a trim, she could say goodbye to making about $5,200 per year. That’s why her team discounts deep treatments instead. Let’s break it down:
- Deep treatments are typically $20 at Rochelle’s salon, but she’ll offer them for just $10 as an intro for clients who could really benefit from one.
- Doing one a week five days behind the chair is an additional $2,600 a year.
- Doing one a week + charging for extra products could generate an additional $6,500 a year or $541 per month.
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