127 How to Determine What You Should Charge for Your Services
I\u2019m really lucky to have the opportunity to be able to have deep and insightful discussions with salon owners, and other people who have a vested interest in the salon industry. This year on the Grow My Salon Business Podcast, in every fourth episode I will be addressing a question sent in by a listener.\xa0 For today\u2019s podcast, I am answering a question posed by Louise (from Albuquerque), which was about how to price salon services. This question is relevant to all salon owners everywhere and I felt it would greatly benefit this audience, so tune in today to hear my thoughts on the topic! In this Episode: [01:38] A common strategy for pricing salon services, and the problem with this. [02:18] Why decisions around pricing need to be based on maths, not emotion.\xa0 [03:07] The importance of understanding the difference between your profit and the salary that you pay yourself.\xa0\xa0 [03:45] A hypothetical exercise where I run through how to cover a $500 000 overhead and make a 10% profit.\xa0 [08:10] Examples of the numerous variables which have an impact on your service price.\xa0 \xa0 Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!\xa0 They do matter in the rankings of the show and help other people find my podcast.\xa0 I also love to hear what\u2019s been helpful and what you love about the podcast!\xa0Just\xa0click here to review,\xa0scroll to the bottom, tap \u201cRatings and Reviews\u201d tap to rate with 5 stars and \u201cWrite a Review\u201d and let me know what your favourite part of the podcast is. Thank you for your support! Until next time! Antony \xa0 Links and Resources: Grow My Salon Business\xa0 Website\xa0|\xa0Facebook\xa0|\xa0Instagram