Maximising Your Value as a Lash Artist: When and How to Increase Your Prices
5 minute read
As a lash artist, it's important to regularly assess the value of your services and make sure you're charging a fair price. However, raising prices can be a delicate matter, as you don't want to lose clients or damage your reputation. Here are some tips for determining when it's time to increase your prices and how to do so smoothly.
Be sure to consider these factors before raising your prices;
1. Consider your costs
2. Assess the value of your services
3. Analyse the market
4. Communicate with your clients
5. Gradually increase your prices
Consider your costs
In addition to the value of your services, it's important to consider your costs when determining your prices. This includes things like rent, supplies, and insurance. If your costs have increased significantly, it may be necessary to raise your prices to stay profitable.
Assess the value of your services - consider offering additional services or packages
The first step in determining whether it's time to increase your prices is to evaluate the value of your services. Are you consistently booked? Do you have a waiting list? Are you regularly turning away clients because you don't have availability? If so, it may be time to increase your prices.
One way to smooth over a price increase is to offer additional services or packages to your clients. This can help them feel like they're getting more value for their money. For example, you could offer a 5x infill package or a limited time promotion where clients can book a full set and get 30% off a lash cleanser or lash growth serum.
Analyse the market
Take a look at what other lash artists in your area are charging.
Are you significantly cheaper or more expensive? If you're significantly cheaper, it may be time to increase your prices to be more in line with the market. However, if you're already at the high end of the market, it may not be the best time to raise your prices.
Communicate with your clients and be transparent
Before you make any changes to your prices, it's important to communicate with your clients. Let them know that you're considering a price increase and explain the reasons for it. This will give them the opportunity to voice any concerns or ask questions. It's also important to be transparent with your clients about why you're increasing your prices. If you can clearly explain the reasons behind the increase, they will be more likely to understand and accept it. Some reasons for increasing prices might include an increase in your costs, changes in the market, or obtaining new education or upgraded skills.
Here's an example of a price increase message:
I hope you're all doing well. Just wanted to let you know that I'll be making a small adjustment to my prices starting [date]. I know changes can be tough, but I've recently invested in some extra training and have also had some increased business expenses. I promise that the quality of my work and the value I provide will more than make up for the price increase.
I really appreciate your loyalty and am so grateful for your business. If you have any questions or concerns, just let me know.
Thanks for your understanding,
Gradually increase your prices
If you do decide to increase your prices, it's generally a good idea to do so gradually. This can help minimise any disruptions or negative reactions from your clients. You could start by raising your prices for new clients, while keeping your current clients at their current rate for a certain period of time. This allows you to test the waters and see how your clients respond to the price increase.
In summary, there are several factors to consider when determining whether it's time to increase your prices as a lash artist. These include the value of your services, your costs, the market, and your clients' needs and concerns. By following these tips, you can increase your prices smoothly and minimise disruptions to your business.