Most eyelash extension artists eventually reach a stage in a business where they need to consider raising prices. Knowing when is the right time to increase your prices will come down to the discretion of each business owner. Many business owners are quite reluctant to raise their prices because they are worried that their customers might abandon them. Raising your lash prices can be an essential method of keeping your business open.
If you’re in a business where you’re struggling to pay yourself, changing your pricing can make sure that your expenses can be covered and that you can still afford to live. Here are some of the top factors that you should consider for raising your prices:
You Are Struggling to Financially Pay Yourself
Your salon or your lash business may be sustainable, but you might find yourself in a position where it’s a struggle for you to pay your wage. If you don’t have enough clients, it can be wise to raise your pricing slightly so that you can get by with more clientele.
You Need Marketing
Paying for marketing expenses for your business once you are afloat can be somewhat costly. Speaking to local marketing companies or checking out the cost of social media campaigns online will help you adjust your hourly wage based on your new marketing requirements.
It’s Been Years Since You’ve Raised Your Prices
If you’ve been operating for three or four years without raising your prices, you could consider a rise in your service pricing by 10 to 20% while still likely keeping the majority of your clientele. Keeping up with the cost of living and making sure that you are rewarded for all of your hard work can be important!
This post was written by Natali Roshau. Natali has over 10 years of experience as a lash artist and is the owner of Lash Addict Studio. Lash Addict Studio is famous for its eye extensions in Saint Petersburg! In addition to being a lash artist, she also offers to lash extension classes, certifying girls across the nation!