Sola Stories Podcast
Episode 57: Charge What You're Worth
Posted on May 15, 2021
Sola Salon Studios
On this episode, we’re bringing you a clip of one of our 20+ classes from The Sola Sessions Reconnected and we’re talking all about pricing strategies, specifically how to charge what you're worth. We're joined by three Faces of Sola - Joey Figueiredo (owner of Daicy // Figueiredo), Bianca Margolis (owner of B. Rose Studio), and Ashley Lantz (owner of Mauve), who each talk a little bit about how they got started in the beauty industry and how raising their prices has helped them elevate their careers.
We discuss the various reasons why a salon owner would raise their prices and how they know when it’s the right time to do it. Joey, Bianca and Ashley also each offer some helpful advice on raising prices and how to go about doing it. Reach out to any one or all three of them for additional advice and/or if you're looking for a mentor, and don't forget that you can still watch all of the content from The Sola Sessions Reconnected on-demand all the way through to the end of 2021!
In This Episode
[0:24] – Pricing strategies and how to charge what you're worth.
[1:07] – A little bit of background information about Joey, Bianca, and Ashley and how they set their prices at the beginning of their journeys.
[3:20] – Some things that Joey considers when deciding on prices and when to increase them such as location, what kind of studio you're in, rent, and product and inventory.
[3:58] – Bianca's prices reflect on her being the best that she can be.
[4:17] – How hourly pricing is on the rise and what the benefits of it are.
[6:23] – How salon owners might know that it's time to raise prices.
[8:47] – It's funny when other people – especially clients – tell you that you're not charging enough.
[9:58] – Whether or not there is a limit to how often you should raise your prices.
[12:10] – How Bianca decides it's time to raise her prices.
[13:37] – Salon owners frequently experience fear when it comes to raising prices.
[15:33] – Bianca feels that you lose clients regardless of whether or not your prices get raised.
[17:26] – Raising your prices will not usually result in clients tipping less.
[19:21] – How salon owners can communicate that prices are being raised.
[21:52] – Should salon owners explain to their clients why they're increasing their prices?
[24:26] – Justify your price increases if you feel that you have to, but you don't need to apologize for them.
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