Pricing For Profit

Share
Tweet
Share

Award-winning salon owner Caroline Sanderson heads up the Salon Jedi Coaching Academy, and is the author of a new book, ‘The Ultimate Business Bible for Ambitious Salon Owners’ available on Amazon.

I know many salon professionals who struggle with pricing, fearing how much they charge their clients. It is extremely important, particularly after the previous year we have endured, to know where prices must be set in order to cover costs. With the necessity of PPE, further cleaning products and so on, our outputs are higher; therefore prices have got to increase in order to create profit.

BE AWARE OF YOUR LIMITING BELIEFS

People from all industries suffer from limiting beliefs; with salon owners worrying they may lose clients or receive complaints when elevating their prices. This fear creates cognitive dissonance, where you hold two or more conflicting beliefs. It may be that you’re aware you are worth more than what you currently charge but your limiting belief is that your customers won’t be happy to pay. You know what you can offer your customers is worthy of the updated price, yet your limiting belief leads you to assume you’re not worthy and that customers won’t pay it. The clash between values and inner beliefs creates cognitive dissonance, with an inner struggle encouraging you to neglect your values. When you value yourself and know in your heart ‘I am worth more and I have to pay out more, therefore I need to charge more and price for profit’- it feels good!

It is important to acknowledge that limiting beliefs restrict our success. Living by your highest values allows your brain to perceive these values as reality. Focusing on complaints, self doubt and low self-worth creates affirmations of ‘I am not worthy’ and therefore forces the brain to believe that fact. The true reality is that there are already customers out there who are paying more than your current prices, even double! If clients complain or refuse to pay, they are not valuing you and the wonderful services you offer. In my own salon, I am happy to let these customers go and replace them with new people who are on the vibration of my higher self-worth and happy to pay my new prices.

MAKE YOUR SERVICE AMAZING, AND MAKE PROFIT

Even so, when increasing your prices, make sure you know you are giving an amazing service with extreme value to your customers. Offering a free treatment or product on top of the service can easily combat this. For example, a head massage enriches the clients’ experience, making the service worth more without costing you anything. These small bonuses add value and in turn, keep your clients happy and more willing to pay the new price.

With salon openings on the horizon, it is important to revaluate your outgoings and ensure you are pricing for profit. Clients will be eager to get back into your chair and enjoy your highly missed services. With your customer’s best interest at heart you can do amazing things for them, whilst living by your highest values and make profit all at the same time.

If you want to find out what limiting beliefs you have that are holding you back, and how to eliminate them and achieve the goals you have for both you and your business, email salonjedimarketing.com to book a free breakthrough call with of our coaches.

Click the link below to find more about upcoming courses and talks we have for this year:
https://sociatap.com/thesalonjedi/


Leave a comment

*

*

Get a Quote