“How do I know how to price my products and services?”
This is a question I get quite often from my clients. I’ve listed a few ideas below that can really help you figure out the best pricing for you and your business:
1) Scope your competition (refer to chapter 4). I recommend checking out between 5 and 10 of your local competitors.
2) What is the lowest cost you have seen? What is the highest cost you have seen? What is the median cost of all competitors you have
3) What is your ideal client (refer to chapter 3) willing to pay for your products and services?
4) Depending on the value of your products or services and who your ideal client is, you will want to price accordingly.
TIP #1: Never price lower than all of your competitors. This will cheapen your brand and will attract clients who won’t take you or your business seriously. Price point should be at least average to ensure you are getting paid your worth. If you don’t believe in your product or services enough to charge at least average, something about what you are offering needs to change.
TIP #2: It’s OK to be at the higher end of the price range IF you are giving your clients more than what your competitors are offering. Don’t price high with low quality service. Doing this is asking for a bad reputation, fewer referrals and very few return clients. Also, if you are pricing higher give some incentive to your new and existing clients to let them know you appreciate their business and love seeing them often.
TIP #3: KNOW YOUR WORTH! I see this way too often. You’re new to the industry, you’re new to business and you are floating around with your head in the sky and a look on your face that resembles a terrified deer in headlights. You want to price low because you want your clients to come running through the door but believe me when I say that pricing too low is a turn off to some potential clients. I tried low and high prices and what I’ve come to find that works best for my business is pricing high and offering discounted rates that attract new and existing clients to my spa. Because I am priced above average, the discounts don’t hurt my business and I love seeing that my books are filled week after week.
“You are enough and you are worth it!”
BEAUTY INDUSTRY MARKETING EBOOK
Created for beginners and intermediate entrepreneurs who intend to start, grow or expand their financial success in the beauty industry.
This ebook is filled with YEARS of knowledge gained from successful entrepreneur, Kelly Callaghan. Within 1 year of starting her business, Kelly grew her mobile spray tanning business, Positively Tan, from 1 county to 4 counties. Within 6 months Kelly secured a location 1 block away from beautiful Pacific Beach in San Diego. Kelly now travels within the United States to educate individuals and business owners how to spray tan professionally and/or how to start their own businesses in the beauty industry! Kelly has worked with individuals and business owners worldwide, via online and Skype trainings, and has helped over 200 clients learn, start and grow their own businesses on an international level! She now markets her business for Positively Tan and Spray Tan Class for free and continues to grow her client base, income and visibility.
Once purchased, you’ll receive your copy via email.
IN THIS EBOOK, KELLY REVEALS:
- How to start marketing from scratch with good quality work for cheap: website design, logo design, business cards, fliers, etc.
- How to maximize your online visibility so people know who you are and what you offer!
- What is SEO and why it’s crucial for your business and online visibility.
- How to network with popular social media models/idols to help promote your business!Who you need to talk to to get recognized in the industries you need to cross network with (wedding coordinators, event planners, scouts, photographers, etc.).
- How to get set up at your next local bridal bizarre or wedding convention!
- Grow your business from a mobile only to a salon quickly, easily and at low cost to you!
- What major social media outlets you need to be on and why!
- Get your business on Google, Yahoo, Bing and other local search engines!
- Finding who your ideal client is and where they are at!
- If you are in need of starting or growing your business in the beauty industry, THIS BOOK IS FOR YOU!