Putting your prices up?

[twid]

Will you be putting your prices up this year? do you do it every year? how do you work out how much to put them up by?

I didn't put my prices up last year as I felt the recession was hitting people really hard. I know I was taking less money as things had gone up for me but didn't want to loose business completely so felt it was better to take a hit than dip out.

However, this year I will be putting my prices up and feel that people will be OK about it. I've discuss it with my regulars and they all seem to understand and sympathise.

Just wondered what everyone else was doing?

Karaxxx

 

[virtues2011]

I think your thread could be an interesting debate - I think it could be a difficult one to answer as many have their own ideas of price increases and there is no hard or fast rule where this is concerned. I personally would look at your location, customer base, and the last price increase and what is going on around you before I made a decision.

I personally base this industry on luxury rather than necessity. Consumer pockets are squeezed at the best of times at the moment what with food, water rates, council rates, electricity price increases. There are threads that I have recently read that state how quiet some are, clients are lengthening their appointment times etc etc. Some geeks are saying 'hold out for December it will be busy'....IMHO I'm not 100% convinced with this comment and I hope I'm wrong. I'm not sure how businesses that have not made any financial consideration for the first quarter of next year will survive if December should not be as busy as one hoped. We all know January is a quiet month for most anyway what with the spend over christmas. That said I will be looking for cheaper costs on overheads and service providers too where possible so I will still make a saving.

For me personally, not at the moment, is the answer to your question, but that said I will not be giving wage increases either and definitely no change whatsoever in the first quarter of next year. I will continue to monitor the situation as we move further into the year and hopefully witness some slight improvement to the economy.

 

[DONSLJ]

This is something I have been going back and forth on, but I think my gut feeling is no. I'm in agreement with pp things are still recovering economically and I think every single one if us feel the pinch, therefore I'm happy with my earnings so I'll keep them as they are for the foreseeable.

 

[emjen]

I was reading the finger nail fixers blog the other day on prices and how much to put them up by

Make Your Prices Reflect Your Value

Might help a couple of other geeks if they are considering it

 

[virtues2011]

Maybe the ones that are charging £8.00 for a set of shellac nails should be seriously considering increasing their prices... :biggrin:

 

[mm29]

I also believe our services are luxury and don't think adding a couple of quid to each service is worth taking the risk right now, yes it's only a couple of quid but for regulars it all adds up and they could wait longer in between which makes us worse off,

My prices will be staying as they are for now

 

[Jojo@salongeek]

I also believe our services are luxury and don't think adding a couple of quid to each service is worth taking the risk right now, yes it's only a couple of quid but for regulars it all adds up and they could wait longer in between which makes us worse off,

My prices will be staying as they are for now

I too have to agree our services are a luxury & people are still feeling the pinch so this year my prices will remain as they are. I feel my prices are very fair & do reflect the work I do.

 

[EmJ]

I added a pound or two to my treatment at the beginning of the month. I was going to wait til January but someone on here suggested just doing it now to reap the benefits of Christmas. I'm booked solidly until the end of the year Nd already booking in for January, no one has batted an eyelid

 

[virtues2011]

I added a pound or two to my treatment at the beginning of the month. I was going to wait til January but someone on here suggested just doing it now to reap the benefits of Christmas. I'm booked solidly until the end of the year Nd already booking in for January, no one has batted an eyelid

That is good, if your area can sustain affluence you will be just fine. You may not be as high as some of the other businesses in the areas we are in, or vice versa, however if it works then that is brilliant. :biggrin:

 

[Martin Duffy]

I put mine up every year around July, when the sun is (hopefully!) shining and all seems right with the world. It's much easier to have a small yearly rise than wait for years and have to have a more substantial price rise. No one has ever minded and I'm fairly solidly booked year round.

I'm not entirely convinced a pound or so a month is going to be a deal breaker for anyone but the poorest of clients, and to be honest, it might sound mercenary but I don't want to base my business on providing cheap treatments for the needy. I don't do this as a hobby, and I have a mortgage to pay. If I'm going to be at work I want to be earning as much as I can in as short a time period as possible, and that means charging fairly but appropriately.

 

[Sam81]

I put my massage prices up by around 10 % in October. They hadn't changed in 4 years though and when I started to look at what other places were charging I was way under and without blowing my own trumpet I think I'm pretty good at it (well my clients tell me I am and they keep coming back!). They have so far all been very understanding and no one's complained. My overheads have increased too and I have to cover the increase somehow.

 

[mm29]

I put mine up every year around July, when the sun is (hopefully!) shining and all seems right with the world. It's much easier to have a small yearly rise than wait for years and have to have a more substantial price rise. No one has ever minded and I'm fairly solidly booked year round.

I'm not entirely convinced a pound or so a month is going to be a deal breaker for anyone but the poorest of clients, and to be honest, it might sound mercenary but I don't want to base my business on providing cheap treatments for the needy. I don't do this as a hobby, and I have a mortgage to pay. If I'm going to be at work I want to be earning as much as I can in as short a time period as possible, and that means charging fairly but appropriately.

I do agree with your comments and think maybe summer time is a good time for increase.
So how much do you increase every year?

 

[Martin Duffy]

I do agree with your comments and think maybe summer time is a good time for increase.
So how much do you increase every year?

Depends on the original treatment price and any cost rises, but generally anywhere from £1 to £4 (some of my treatments are nearly two hours long).

 

[Deb2208]

How do you guys announce/market your increase?


www.nail-ific.co.uk

Sent from my iPad using Tapatalk HD

 

[lofty]

I increase mine slightly every January however I like Martin's idea in the summer, happier people might not be as bothered. Im in a niche market in my area and fully booked most of the time. November's been unusually slower thou Im also bloody good and am often updating my skills with the top trainers so I feel Im worth it. I'll prob increase between £1-£3 on some treatments but not all.
I still always feel abit apprehensive.