Price increase and costing analysis

[jellonails]

I have 3 members of staff (one of them only been with me since June) and we are fully booked and running a cancellation list most of the time.
I moved my business from home to a salon and gained staff 5yrs ago. My prices have only increased by about 20% since I was based at home.
I am finding that with overheads increasing every year and all the labour costs my profit is less than a minimum wage salary, before I pay taxes [emoji31]
I really need to increase my prices, but was wondering if anyone has any tips on costs analysis rather than just putting the prices up a couple of quid.
We do most gel and gel polish treatments, both mani and pedi. But we also do waxing, facials, massage so am scratching my head a little bit of how best to go about having an actual look at where I am making a loss.
Thank you in advance

 

[Trinity]

You need to contact your suppliers and ask for a 'cost per service' sheet, this will tell you (before VAT) how much each set of gel polish or luxury peducure, or waxing treatment will cost in products. Then you need to add in things like disposables, there's no set amount as different techs work in different ways, I may use 10 cotton pads per set but you use only 2 for instance. You'll need to do those for yourself.

Then you need to factor in salon costs, electricity, gas, rent, insurance, etc. Then hourly wages for staff.

This will give you a starting point of the minimum per week (do an average week of treatments not a good week) you need to earn to break even, then calculate your prices to ensure profit.

 

[jellonails]

Thank you, have started on a spreadsheet