putting your prices up

[sparklekelly]

hi everyone as you all no the start of teh year vat has gone up how is that effecting you all the last 2 weeks i have notices a slight drop in my profit but that could eb time of year but looking back at last years it is still low.so yes i am thinking of putting my prices up a bit only by a few pounds mainly in the smaller jobs thaht take the more time.im asking some advice how is best about putting your prices up??do you have a hourly rate ??also regards to child trims do you charge the same as adults or different?i am mobile and very busy but i dont want to be running around i start early and finish late 6 days a week and to only take home £120 is not enough for me may sound alot but my first appt is normally 7.30 to 8 and i get home about 10 most nights im just looking to see how you all go about it thank you

 

[SJK]

What sort of prices are you charging at the moment?

 

[sparklekelly]

well for my area i think im ok may be a little cheap fir example full head foil highlights with cut and blowdry is £40

 

[SJK]

Yep, I think you probably are a bit cheap. What might be better is if you work out your prices based on what you want to earn. Come up with an hourly rate that you would like to be getting, then work out your prices as:

Your hourly rate for the treatment, so multiplied by 0.5 if the work will take 30 minutes, and so on
The costs of any products - any decent wholesaler or supplier should be able to give you these costs

Be realistic about the rate you want to earn. If you think working for £6 an hour is reasonable, you may as well go and get a job in a shop. You trained for this career and have lots of experience so you should earn a fair rate.

 

[scottydolly]

wait wait wait. . . 120? per wot. . day or week? u cant be seriously only payin urself 120 quid a week when u work 6 long days a week?

 

[Tillie]

I agree you should be taking that a day. I've noticed that when I've done hair cheap for a friend etc they haven't appreciated me or mt time. Remember you have to take travel time and costs into consideration parking etc and your products so you're probably only making £20 for a full set of highlights and a cut and that's not enough.

 

[sparklekelly]

wait wait wait. . . 120? per wot. . day or week? u cant be seriously only payin urself 120 quid a week when u work 6 long days a week?

no thats an average per day but a good dayx

 

[sparklekelly]

I agree you should be taking that a day. I've noticed that when I've done hair cheap for a friend etc they haven't appreciated me or mt time. Remember you have to take travel time and costs into consideration parking etc and your products so you're probably only making £20 for a full set of highlights and a cut and that's not enough.

yeah i no there is just so much comp around here to collage girls who dont have much experience but think they can do any thing(not all but most) the number i have to correct and it has cost them less to do that than the first place 8 years experience i have had now i think that is good i go on at leaset 3 courses a year to keep me up to date i love my job and want this to work. i have also got a 1 year old so have to start taking child care into that to a bit long look at my books is in order i thing and find shop around for products thanks guys

 

[Millennium]

I think you should start by evaluating your product (haircuts, highlights, etc.) A great way to do it is by asking your clients, see their reactions after the job is done and if the reaction is positive do not be afraid to let them know you are thinking about increasing your rate 25 % (ex: from 40 to 50) Listen what they have to say. In addition, promote any kind of referral discount among your current clients. Good luck!