We’ve all heard the expression, “Work smarter not harder” but what does that mean for us as lash artists? I am talking about raising prices! The decision to raise prices can be a tough one, but it is important to remember your worth. You should be charging what you’re worth and as your skills improve, your clientele grows, your products costs go up so does your worth. How do you know when to raise prices? and how do you implement a price increase? I am here to help!
Is your clientele full? Are you turning away new client inquires?
A good rule of thumb is that if you are 80% busy, raise your prices! It’s inevitable that some clients won’t return after a price increase but you can keep your income with less clients at a higher price. This allows your schedule to open up for new clients at your new prices. If you raise your prices, and you don’t loose clients—even better, you just gave yourself a raise!
Are you certified? Are you continuing your education?
We need to be continuing our education and always learning, but that is an investment. If you are paying to better your skills then your clients should have to pay to reap the rewards of your new skills.
Do you have a lot of experience?
A lot of clients are willing to pay based on experience—if they are looking for a deal they are likely to visit a new artist and if they want an experienced artist they understand they have to pay. Your experience will reflect in the quality of your work and good quality work is worth it!
Do you use high quality products?
Your prices should reflect the products you are using. You invest in product for your clients and that should be calculated into your prices. If your product costs go up that is a good time to consider raising your prices.
Do your prices compare to your area?
Do your research and figure out what other lash artists in your area are charging. This should be used as a reference point and not a direct answer because other factors like experience and quality are more important, but it can give you an idea of what clients in your area will pay.
How long has it been since your last price increase?
Even if this will be your first price increase, it is likely that with time your expenses have also increased. Evaluate how long your prices have remained the same and compare it to the rise in costs.
So, you’ve decided to raise your prices. Now what? The most important thing to remember when implementing a price increase is communication. Communicate with your clients so they are not blindsided. It is important to give a fair notice allowing your clients to make a decision on their own. Before your raised prices go into effect, let your clients know that in X amount of time your prices will change. Give your clients a final reminder such as, “At your next fill the new price will be ___.” It is not a bad idea to also post the announcement where your clients can see it at their appointments leading up to the change. Again, communication is most important. Hand out flyers, send texts, post on social media. However you want to get your point across just communicate clearly and verify they understand.