127 How to Determine What You Should Charge for Your Services

I’m 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.  For today’s 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.  [03:07] The importance of understanding the difference between your profit and the salary that you pay yourself.   [03:45] A hypothetical exercise where I run through how to cover a $500 000 overhead and make a 10% profit.  [08:10] Examples of the numerous variables which have an impact on your service price.    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!  They do matter in the rankings of the show and help other people find my podcast.  I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support! Until next time! Antony   Links and Resources: Grow My Salon Business  Website | Facebook | Instagram