Being The Most Expensive Salon
Are you salon owner that’s absolutely terrified of putting your prices up?
I know plenty of salon owners that feel like that.
There is this massive fear that we have in the industry about putting our prices up.
Prices are a reflection of the service that you offer and the income that you want to make.
They’re not a reflection of what someone down the road is offering.
Your pricing structure should be the most expensive in your area.
Because you want to be the best in your area, correct?
I hope so.
But there’s a huge resistance to actually putting your prices up and addressing being the most expensive salon, because people have this fear.
And they say, “I can’t be the most expensive because my clients won’t pay that.”
How do you know?
Do you have a crystal ball?
Can you see into the future?
Or are you just making an assumption?
And if you do have clients that won’t pay, maybe, maybe they’re just not your clients.
Now my salon was more expensive than most of the other salons in the area.
And that was because we were a spa and that was because we used a high end brand and we didn’t apologise for putting our prices up, which we did regularly.
Because our costs went up, the cost of staffing went up and because I wanted to increase the profit levels in my business.
I wasn’t there just to have a good time, I was there to run a business.
And that’s what you are doing as well. You’re a business owner, and you’re running a business, when you make decisions about things like your pricing, you should be doing that as a business owner, never emotionally.
You shouldn’t be thinking, “yeah, but I’m not sure Mrs. Roberts will be able to pay that and, you know, she only pays £42 pounds for three hours worth of treatments or to have a full head of highlights done…”
You need to be pricing dependent on what you want your business to achieve, and where you want to go in your life.
There should be no other metrics involved.
These things that fuel your pricing strategy one hundred percent is something we teach massively within our communities.
Work out what you want to make, and then price it around that.
Don’t work out what you think they want to pay, work out what you want to make.
Now people are scared to be expensive because they think that people don’t want to pay for expensive things.
There’s this mindset, people don’t want to pay, that people want the cheapest of everything.
If they want the cheapest, let them go to a deal site and buy the cheapest stuff that they can find!
You don’t want to be the middleman or be in a price war, you want to be the most expensive.
Think about this… if you sat there and did a visualisation board, right now you’d add the house you’d love to have, the car that you want to drive and so on
I’ll bet none of it is the cheapest stuff!
It’s the most expensive things.
Because people associate expensive things with good experiences and with a good life.
So if you’re the most expensive salon in your area, then you’re going to be seen as the most elite salon.
You’re going to be seen as the most prestigious salon and you’re going to be the salon that people talk about because they’re proud to say they spent the money to come to you.
When people go and buy clothes and handbags in Selfridges and they go and spend £3,000 on the Louis Vuitton handbag – it’s not a discreet handbag is it?
You can see if anybody’s carrying around a Louis Vuitton, you can see the logo all over it.
Everybody knows it’s a Louis Vuitton because people want to show that they spent £3,000 on a handbag.
Let them want to talk about your business in that way.
Now is that better handbag and when you could get for £100?
I’m not sure. Maybe, maybe not.
But if you are the person that’s offering the experience, if you’re the one that’s offering the prestige, then you should be charging that worth to your clients.
We’re not here to have a good time, well we are, but we’re not only here to have a good time.
We’re here to grow businesses.
We’re here to grow forward.
We’re here to reach goals.
Your salon should be what allows you to live the life that you want to live.
Whether that’s freedom with your time, whether it’s freedom with your money, being able to do the things that bring you pleasure, all these things usually cost money.
And if it’s just about spending time with family that doesn’t cost you money, it’s gonna cost you time.
So you’ve got to have a business that gives you both of those things and if you’re charging more, that happens a lot quicker.
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