BBP 010 : The 4 Pricing Mistakes Salon Owners Make

The Intro Bit . . . How did you set the prices you charge for your treatments in your beauty business or salon? Did you make one of these classic mistakes? Don’t worry if you did . . . it’s perfectly normal to do so. It could mean that your prices are too low and in this episode I explain exactly why. I also tell you about the ONLY thing that matters when setting your treatment prices! The Show Notes . . .  The Assumption I made about your prices (from the last episode) that could affect just how effective a price increase could be for your beauty business, salon or spa. How did you set your current prices? Why have I called this episode The 4 Pricing Mistakes Salon Owners Make? :: The Drop In – Adam interrupts himself :: I’m not trying to catch anyone out here . . . I have been guilty of at least two of the 4 mistakes myself! The Good News: Your prices are probably too low!   Pricing Mistake No. 1: Cost Based Pricing Why cost has NOTHING to do with price! A couple of examples to prove my point . . .   Pricing Mistake No. 2: Competitor Based Pricing Charging slightly more vs. charging slightly less (and why both are wrong) [Adam goes of on a rant . . . . ] Link to Getting the Right Clients for Your Salon: 99 Clients in 33 Days Pricing Mistake No. 3: Best Guess Pricing Why this is more dangerous than Competitor Based Pricing! How perception can damage pricing. An Example to prove how perception can affect pricing . . . Pricing Mistake No. 4: “What we charged last year  . . . plus a bit!” Inflation is NOT a reason to raise prices! A Note about the example in the last episode.   So how should you price your treatments? The ONLY way to price your treatments for maximum profit! Does the buyer who likes a house most pay the highest price? Value is the price a client is willing to pay based on circumstances and how they percieve the cost of those circumstances. Click To Tweet