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How do you know when it is the right time to raise your prices? Here are some indicators it is time:
You have more clients than you are able to service.
The demand in your geographical area is greater than the supply available.
Your prices are below the midpoint your geographical area.
Now that you have determined that it is time to raise your prices, how do you go about doing that?
Step 1: Determine the amount you want to raise your prices based upon the market in which you reside.
Step 2: Determine to whom these increased prices will apply and when. Will you only apply the increase for new clients? Apply to all clients?
Step 3: Create a communication plan. How will you communicate the change? How much notification will you be giving? See suggested template below.
Step 4: Be prepared for some push-back and even the loss of a few clients. That is okay and normal.
It is recommended to make these changes at the beginning of a year as it seems to sit better with clients when associated with a fresh, new year.
Template: 2019 Price Increases
With the new year come some new prices. We want to continue offering you impeccable service and due to inflation and increased overhead costs, beginning January 1st, all of the lash extension service prices will be increasing by $xx.
Your Beauty Brand is a vegan-friendly and environmentally responsible American company offering private labeled lash extension aftercare and training products.
Selling your own exclusive brand is a great way to increase your business's income and profit margins.
In addition, offering private label lash cleanser gives your salon a professional image, credibility, and trust that your competitors may not have. You will also be able to earn more, and clients will feel more loyal to your salon because they see your brand every time they wash their lashes.
These ready-to-go private-labeled foaming lash cleansers (2.2oz) come unlabeled or with your logo added in 25, 50, or 100-packs.
What sets our private label lash cleanser apart from others?
We do it all for you and provide the highest quality product on the market. Seriously! Unlike other private labeling companies who are either overseas, only provide blank products, or sell low-quality junk, we take the time to send you what we would want on the shelves of our salon. We professionally design & laser print on waterproof labels and shrink-wrap your cleansers. We are also fully insured, and your cleanser is made right here in the United States.