#PB live (July 11) How to increase your prices without losing customers – interview with Susan Routledge
Are you thinking about putting your treatment prices up but stalling because you’re worried it will put clients off coming to your salon? Beauty consultant and salon owner Susan Routledge explains how to do it successfully in this week’s #PBLive.
Editor Eve Oxberry (left) and deputy editor Amanda Pauley (right) quizzed Routledge on how to tackle a price increase, the varying ways you can do it and why you need to be confident in your decision.
“You need to get rid of the fear factor – it’s the most common thing I see with salon owners. They think, ‘Oh my word, if I put my prices up clients are going to run for the hills’, but customers are coming to you because they see value in what you offer now. A small price hike shouldn’t really have that great of an impact on them,” says Routledge.
“In general, we have suppliers who are putting prices up, and quite significantly in some cases, and staff wages are going up too, so to not put your prices up is detrimental. You’ve got to generate enough money to upskill your team and you’ve got to have the cash to be able to invest in equipment and things. Clients understand that a price increase is just part of being in business.”
Other things she covered include:
- How often you should put your prices up
- Why you shouldn’t look at what everyone else is charging
- The monetary value in tweaking and perfecting signature treatments
- How to explain your price increase to your clients and your team
- The issue of dealing with the VAT threshold.
You can see Routledge talk about this topic in more detail at the Professional Beauty North show, taking place in Manchester on October 13–14. Register for your free ticket and book your place here.
What’s your top tip for successfully putting your prices up? Comment below.