Sell one more bottle of polish each day. If you sell one $10 bottle of polish you should make $5 net profit on it, adding up to an extra $1,800 a year.
Wouldn’t an extra $10,000 a year make things so much easier? In the spirit of this HOW- TO issue, I’m going to tell you a few, mostly simple, ways to pad your wallet without doing time.
Many of you are concerned that when an increase is implemented, clients will leave, and in some instances, this may be true. But you must not forget future goals, and you must keep pace with increases in supply costs, education expenses, and other overhead cost expenses.
Forget what your competitors are doing and what you think your clients will pay –the most important factor in pricing services is to ensure your salon is making, not losing, money.
Experience is the hardest teacher, but one of the wisest. So why not take advantage of others’ hard-earned advice when you have the opportunity? We asked several industry consultants what the most common mistakes are that salon owners make, and how our readers could avoid them.
It's a distressing fact that for the last few years there has been relatively little movement in salon service prices.
With services prices flat for the sixth straight year, salon owners hesitate to raise their prices, even in the face of the rising costs of doing business. Are you sure it's clients' unwillingness, and not fear, that's holding your prices down?
Instead of expecting clients to supplement the nail professional's earnings, nail salons would price their services at a level that allows workers to earn a living wage. Salons could even make it a salon policy and notify clients that tips are no longer accepted at the salon.
Start by raising prices, then follow by reducing expenses, continuing your education, and managing your time. Then watch your income grow.
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