How to Price Your Salon for Success
The salon industry is a competitive business, and you can’t just get by on offering top-notch services anymore
Now more than ever, you have to create an environment that keeps prices competitive and creates loyal customers.
Pricing your salon can be a bit of a balancing act, you want to remain competitive whilst still ensuring your pricing structure helps your business to grow! These are our top tips to keep in mind pricing your salon to set your business up for long term success.
Understanding Salon Prices
When you’re trying to effectively price your salon, it isn’t just about choosing a number for a service, it’s also about making sure your clients see value while still meeting your business goals.
These are some of the factors you may want to keep in mind when pricing your salon services:
Costs & Overheads: You’ll want to start by making sure you fully understand the overall cost of running your salon. This includes products, staff, rent, utilities and all other overheads. Knowing just how much your salon costs to run means you can price your services to make sure that you make a profit.
Market Research: You’ll want to check on what other salons in your area are pricing their services at. Have a look at the pricing strategies of your competitors to price competitively, keep in mind though that if your salon is offering unique services you could justify more premium pricing.
Know Your Audience: To price your salon effectively you need to know your target audience and their expectations. You should try to align your pricing with the cost your specific clientele is happy to pay for your services.
Transparency is key when it comes to building trust with your clientele. You want to be completely open about the prices of your services and avoid any hidden fees or unclear pricing structures that may lead to your customers feeling taken advantage of. You should aim to clearly communicate your prices for services, packages and any additional costs that may come up during your service. Providing your client with an accurate quote at the start of their service and sticking to that price can help to build loyal customers.
When you’re setting up your salon pricing, you may want to consider incorporating value-added services that justify you pricing your services at slightly higher price points. This may include complimentary consultations, personalised treatments or exclusive benefits and perks for loyal clients. When you offer more than just your stock standard salon services you create unique selling points that will set you apart from the rest.
Regularly Review & Adjust Your Prices
Salon pricing isn’t just a one and done thing, to make sure you’re pricing your products and services effectively and competitively you’ll want to regularly review and adjust your pricing if needed. This approach means that you can stay ahead of the curve when it comes to salon pricing and that you can stay in line with price trends in your area.
How Can Simple Salon Help Your Business?
At Simple Salon we are committed to helping your salon business thrive, with online booking software and other salon software features that can help your business run smoothly, you can spend less time on the admin of your business and more time doing what you do best – keeping your clients happy.
Remember when sorting out your salon pricing you want to keep your pricing competitive without selling you or your staff short.