The Truth About Raising Prices: Robbery or Respect?
Today we deep dive into one of the most shockingly controversial topics Tracey and I have ever covered on the YN Biz Talk Podcast.
What goes through the mind of a Nail Tech when they think about raising the price of their services?
For some, it triggers rage, frustration and maybe even a little fear. For others, it empowers, boosts confidence and cue the fist pump….a little pride. We’re wondering where do you stand on the issue?
We receive negative and angry comments calling us out as crazy or out of touch. Some call us thieves. We think not.
We don’t just pull random suggestions out of thin air; leaving you to test them out on your own. We’ve got a healthy amount of industry experience under our belts to know what really works. We don’t even take it personally when you question our recommendations. (Maybe Tracey winces just a little bit.) We welcome it. It give us a chance to check in with our rich community of YN nail techs across the country and get their feedback.
Here it is, let’s get down to the nitty gritty. YN believes in nail techs of all experience backgrounds. We encourage you to raise your prices because: Out of all the jobs in the world; you have chosen a career in nails. Clap clap…you, clever you!
You are skilled. You are creative. You have a great work ethic. You are your own boss. You like choosing your own hours.
So why wouldn’t you choose when to level up and give yourself a raise? Stop here and take a few breaths to really think about it. Where does the resistance come from? Are you scared to lose clients? Why? Don’t you think you’re worth it? Are you sweating the competition? Don’t even think about them. Are you feeling a little out of your comfort zone? Push up against it. Are your skills not up to the price hike? Then there’s an area for career growth. Set goals. Work on it.
But if you’ve been charging the same prices since you started, you are definitely NOT giving yourself the credit you deserve. We know you are not paying $50 for a cut and color. Forget a balayage for under $100. So hop to it.
Visualize this, what would a $5 price increase per service look like? Over the next year, that could mean an extra $5000- $7000 in your pocket. What about a $10 price increase? It could amount to a serious vacation slush fund.
We’re just asking you to give it a try. To us, your time and talent is worth it. You’re already the real deal.
Believe in yourself. Be confident. Be brave. Have a healthy self-respect. Be You. Set up a pricing system that is honest and fair; one that values your skills.
We promise the clients will follow.
Habib Salo, CEO Young Nails