If you’re a stylist, you know raising your prices in the salon can be a balancing act. While you don’t want to alienate your clients, you want to feel like you’re being compensated fairly. We checked in with hair guru Gina Bianca to find out how to navigate a price increase, so everyone benefits.
“Before raising your prices you need to step up your service experience and add value,” explains Gina. This is open-ended but could mean anything from including a treatment mask with a blowout or adding curls to a style—think about what you’re customers want and how you can meet their needs without them even having to say anything. “I would highly recommend looking at your business from a birds-eye view and coming up with some ways to elevate your experience,” notes Gina. Once you’ve decided how to maximize your client services, Gina suggests the first of the month as the day to start your price increase.
Raise Your Prices If…
While it might be unclear whether it’s the best move for you to raise your prices, if you’re booked about 85% of the time consistently, that’s a pretty clear indication you’re doing something right.
How much you raise your prices ultimately depends on how much value you are adding. “I have seen smaller increases and larger ones,” says Gina. “I would recommend raising them a reasonable amount to ensure your client base doesn’t experience a huge change,” she advises.
Get the Word Out
Let your clients know that you plan on raising your prices in-person, one guest at a time, letting them know something along the lines of: “In order to provide the experience you’ve come to enjoy, our prices are now this,” says Gina.
It Doesn’t Have to Be Major
Don’t let raising your prices cause you to lose sleep. As Gina says, “raising your prices doesn’t have to be a huge deal. But like anything else, “if you make it a huge deal it will become one.” Instead, focus on adding value and taking care of your customers and you can’t go wrong.