Your lash business is buzzing along at a good clip, and that little nagging feeling that you should be bumping up your prices pulls at you. But you’re afraid. Has your competition raised their prices? What if you lose clients? Banish these fears. “It’s always good to remain competitive with artists in your area, but if you’re creating a great experience for your clients, never be afraid to lead the pack on pricing,” says Brittany O’Rourke, Lash Affair trainer and owner of Brow + Arrow Beauty Co. in Escondido, California.
With Education Comes More Cents
A large part of a lash artist’s path to success involves continuing education and certification—and none of this is free. Therefore, as you increase your knowledge and standing as a trendsetter, you should feel justified in raising your prices, says Diane Lytle, master lasher and founder of TheLashChick in Wasilla, Alaska. “If you’ve received additional specialized training, it makes sense to consider raising your prices 5 to 10 percent, and your clients should understand that with increased experience and knowledge, your price will increase,” she says. Display your certifications proudly, and chat with clients about the new services that you now offer thanks to your additional training. Also, if you’re a newer lash artist and have been practicing day and night on certain techniques, like increasing your fan- making speed, you certainly can and should increase your service price to reflect your heightened skill level.
Supply and Demand
If you’re an established lash artist who’s 80-percent pre-booked, it's time to charge more. And if you have a waitlist or are booking two to three weeks out, you definitely need to raise your prices, says Tara Walsh, lashing coach and creator of The Lashpreneur in Santee, California. If you want to keep all of your current clients but make a slightly higher profit, then small increases, such as $5 per fill, will work. But if you want to make the same or more money and work fewer hours? “Time for a bigger change, so some clients will be forced to find a more budget-friendly artist,” Maxwell says. Walsh explains that the goal of raising your prices across the board is to have some clients “drop off to either free up more time for new clients willing to pay a higher price point or to free up your time to spend outside of your business, but still make the same amount of money—if not more.” And though you have a stable of loyal clients, Walsh warns against giving them preferential pricing treatment. “None of this ‘old clients pay the old rate and new clients pay the new rate,’” she stresses. If they’re truly loyal, they’ll understand why you’ve decided to raise your prices—and they’ll happily pay them!
Give Them Notice
Once you’ve decided on a date to implement your price increase, give your clients at least one month’s notice of the new pricing in person. “You don’t want any of your loyal clients caught off guard. This way, nobody can complain that they didn’t know that your prices changed,” says Walsh. Reinforce this by following up with another reminder when they book their next appointment that falls after the new price effective date. If clients question the increase, you don’t need to go into too much detail about why you’re bumping up prices. Tell them it’s the cost of doing business. And if they’re not will to pay the updated rates, new clients will be waiting in the wings!
[Image: Getty Image]