I think it's worth putting a bit of thought and effort into pricing. My view is that prices should be reviewed regularly and adjusted once a year.
I keep some the same and tweak the others. Sometimes it's a numbers game. I put eyebrow threading up by 25p and stuck 50p on some of our waxing prices. No-one minded, yet because we do a lot of eyebrow threads and waxing this gave us a worthwhile income boost.
Sometimes it's about being client focused - We do a few waxing packages and some of these were a bit too cheap so I looked at what people were actually coming in for and realised that the packages weren't that popular - they weren't the right combinations - so I put a couple of new packages together which saved clients money (but not as much as before) and encouraged others to add a third waxing service to their booking.
Sometimes it's about investment and refreshing your treatments - I also upgraded our post waxing products, bought a new digital duo heater and several pots of different wax and started talking about the wax to clients and explaining that we had several options, so we could select the best wax for the client. So overall I guess the price rise was reinvested back into the service for a few months but we found that our waxing clients started to talk to us about what else we offered and booked for new services.
Sometimes it's about marketing. Last year all our clients booked the cheapo pedi which wasn't offering the service level which most clients needed. So I dropped the reduced option off the menu and discounted the proper pedi. We bought new products, put a bit of effort and love into the pedi and we ended up with increased treatment sales. This year I've put the price back to what it had been last year so some of our clients are paying a 50% price increase over 12 months but We feel totally confident that our pedi is good value for money. As an unexpected bonus We notice that the demand for our luxury pedi is taking off and we have already done more of these this year than through the whole of last year!
Sometimes it is about customer choice and education. We kept facials the same price but introduced a 75 min bespoke facial and a mini 30 min facial and explained what the difference was. Quite a few clients upgraded and the new ones have been just as interested in the more expensive treatment.
Sometimes it's about managing costs. Some of our products are ridiculously expensive so I have been looking for alternative suppliers and products. We have brought in a new gel polish range and been quite upfront with customers that it was cheaper. We dropped the treatment cost and although we lost one or two clients we gained more treatments than we lost. We've had a few complaints as the quality isn't quite as good but we've learned to manage expectations and overall it has been a positive experience as gel polish treatments have increased I have been able to buy more colours which customers appreciate - they understand why I swopped and can see the pros and cons.
We've also put some effort into managing product wastage. We've swopped pump dispensors for sprays, snipped the top off containers to really get every scrap of gloopy product.
So price for me is about being fair to yourself and the customer.
