Do you look at a $100 set of nails and think “my clients would never pay that”? A set of nails priced at three figures doesn’t happen overnight. A set of nails that comes with this kind of price tag is carefully considered. There is a pricing strategy set in place and it includes two things: a regularly scheduled price increase and a steady stream of self-confidence. The $100 set is a goal you set for yourself.
If you think your clients would rather jump ship than pay up; ask yourself what kind of value am I offering? We see this phrase in every comment section of our social media. In our “HOW MUCH VIDEO SERIES”, people really got hung up on the idea of pricing. We are proponents of charging for your work, especially at a time when so many nail techs are too uncomfortable to charge what it’s worth. The first hurdle is for you to believe that what you do is special and that you have a huge earning potential. Contrary to popular belief, these are not big city prices. The average price in LA is nowhere in that range. A lot of salons do not charge that. The pricing is all over the place and very super competitive. You have to believe in quality over quantity. If the work is good, they will come. If you live in a small town, meet up with other nail salon owners and try to support one another. Work together and discuss how you can come up with standards for pricing as a business community.
SAFE IS THE NEW SEXY
We’re convinced the pandemic will eventually yield some positive results for the nail tech. Clients will be looking for techs who offer a superb customer experience, beyond just the technical manicure/pedicure service. They will seek out and pay for exceptional value because they want to be sure they are really being taken care of. They want to feel safe in an environment that should be considered an intimate setting. Nails are an intimate service. You are holding someone else’s hands. You are in each other’s personal bubble. This space should be welcoming. The space you walk into should be sanitized spotless. We know a lot of nail techs are already operating under these high standards. If you’re not; it’s time to catch up. No one wants any funny business. You want to create this clean environment. You also want to talk about it with your clients. It’s nice for them to know how much you care about their health and to what lengths you are going through to keep them safe. It will help them to value your work and keep coming back.
KEEP THE METER RUNNING
Things take time to build, just like a beautiful acrylic nail. There will be a payoff at the end but you cannot survive if you are giving your work away. When someone is in your seat, the meter is on. It’s not that we charge by the minute. Price is based on the value you provide; that is what makes you valuable. You have a captive audience of one; time to connect. Now is the time to clearly explain your pricing. What it is and why it is. Your client cannot read your mind. Do not avoid the conversation. They need to know what things cost so that they can make the best decision for themselves, too. All nail art adds up. Communicate the difference between a set at $90/$100/$110.
NEVER HAVE I EVER
When a nail tech balks at the very idea of the $100 set. We first take them back to step one in acquiring this pricing strategy. Have you tried it? Have you thought about your pricing structure? Have you tried to map it out? Have you implemented any pricing increases over the last year, five years, ten years? Have you paid the same amount for a tank of gas or a pair of jeans over the last year, five years, ten years? We don't think so. Even if it's scary. Please try it. Even if it’s a price increase for just $5. Start with an increase in your fills or by charging for nail art. If you never try, you will never get close. Don’t double your prices out of the blue with zero explanation. Increase your rate a little at a time. Even if you go from $40 to $45 a set; this becomes a potential $10K earning increase. Be filled with gratitude about it; not regret. How you deliver the increase has energy attached. Make sure it’s positive. Clients who love nails, will understand where you’re coming from. It’s a reasonable request. The bond with the client is worth a lot. If a client freaks out, maybe it’s time to diversify your clientele. How can you layer in new ones? As a business owner, you should always be looking at the ways you earn a better living doing what you love. If you’re still too shy, ask for support from the nail community. Reach out to someone that has done it and let them know what worked for you.
**This is an adaptation from our YN Biz Talk playlist on YouTube, "BIZ TALK: $100 SET OF NAILS | MY CLIENT WOULD NEVER PAY THAT”.
***Follow our YN YouTube Channel and click here to watch the full discussion:
27 July 2020