Pricing smart when you are starting out can avoid potential headaches when you need to raise your prices. Find out how.
Pricing when you are a new lash and brow artist.
It’s really good to price your lash and brow services correctly when starting out. If you price too low it can be a challenge to raise them without creating price shock with clients and potentially losing them, and if you price them too high you may not be able to establish yourself in the market.
If you are a new lash and brow artist and want to draw clients in with a good offer to establish your business, it is better to price your menu items at the price you want to charge and offer a temporary discount.
This is because it is much easier to remove the discount when the offer ends than it is to raise your prices when the price jump is significant. You can also add a reminder your offer will end at some point by advertising it’s for a limited time only. This also creates a call to action for potential clients to book now.
Once you have established yourself and have regular clientele you will want to remove the discount so you can start charging the price you want to charge. To further buffer any shock to your clients you can add menu items which provide greater value by bundling services or services and products and selling them as packages.
For instance, you may offer a Lift and Lamination package. Individually, you may be charging these services as follows:
Lash Lift with Tint $120 60mins
Brow Lamination with Tint and Shape $100 45mins
Total $220 1hr 45mins
However, bundled together it may be this:
Lift and Lamination package $200 1hr 15mins
So, in this example, you are providing better value for your client by providing these services together at a lower price. However, you are not discounting your earnings because you are able to provide these services in less time than if you do them individually. The margin is better for you and the price is better for your client.
Pricing your menu items at the right price from the start can take the stress and challenge out of charging the prices you want once you have established yourself. It’s better to discount than to raise prices and to add value packages once your start-up discounting is over.
Need specific advice for your circumstances? We offer business coaching for lash and brow entrepreneurs. Find out more here.