Q&A: How to Structure Your Beauty Services and Price Them Right 

[00:00:00] Speaker: You asked and we're answering.  
  

[00:00:05] Speaker: Today we're answering some of your questions. We do these episodes every so often where we gather a few common questions we get asked and we do a episode on them 

[00:00:16] Speaker: but yeah, let's get  

[00:00:18] Speaker 2: into  

[00:00:18] Speaker: it.  

[00:00:19] Speaker 2: Alright, so we kind of combined this one because We felt like it, it did work together because you can do one without the other and really it was understanding how to structure my aesthetic services. And then the other ones, well, how do I price all these things as well? So we thought, well, it kind of goes together. 

[00:00:35] Speaker 2: How do you choose your aesthetic services and not know what it entails and pricing of it as well, I think is kind of comes together so smart. Strategies towards that as you create or maybe because it's a new year, you're looking at restructuring things and how do I go about doing this and making it, you know, without changing it completely, but how to optimize your service again and [00:01:00] revitalize maybe yourself because you're bored with the same treatments. 

[00:01:03] Speaker 2: And services or your clients are becoming as well. So it's just understanding all that. So we're going to try to make this about the aesthetics industry even though a lot of it is falling into, the skin care side because there's so much we can do, whereas, you know, waxing legs or waxing legs, you know, there's not a big amount that you can change their or hands and feet like there's not a lot of differences, but I think it comes to skin care face and body. 

[00:01:33] Speaker 2: Is kind of where I found that people have been asking questions too. So this is great that thanks to the listeners to sending this one.  

[00:01:41] Speaker: Absolutely. So yeah, so I think I'm just going to reiterate the question which is what treatments should I have listed or whether it's on your website or I don't know, do people do print menus anymore? 

[00:01:57] Speaker: I'm not sure, but what treatments should I have [00:02:00] listed or offered? And that doesn't necessarily mean that you don't offer certain treatments, I think it's just like, how are you explaining what you offer, right?  

[00:02:10] Speaker 2: Right, like I think like when I reflect to the skincare side of things, I mean you could list how many types of facials, and it becomes too much and they don't know which one, or they think they should have this one. 

[00:02:22] Speaker 2: Yeah, you're going to see them and say no that you don't really qualify for that and it's not recommended to your skin type or skin conditions or whatever it may be so that's the negative side of that. So I think structuring it like when you look at facials, you have your say your basic advanced and maybe specialized? 

[00:02:40] Speaker 2: I'm not sure. Premium levels, things like that. So think microneedling or an express facial versus, you know, the anti aging sculpting and lifting and, you know, all of the machines that you have. And, you know, there's dermaplaning, there's peels, there's different levels of peels, you know, so, you know, how do you even begin [00:03:00] structuring it? 

[00:03:00] Speaker 2: And some of the things I know in our own heads. When we have a brand, we go by what the brand offers for treatments. And before you know it, you have 10, 15 different types of facials on there. That's more, I think, if you want to be a little bit different than what's out there, and not confuse your clients, and gives you a little more power behind the treatment room yourself, is offering Maybe pick three ways of saying it. 

[00:03:30] Speaker 2: Maybe, I don't want to say basic, but your express facial. Essential, maybe. Yeah, your essential. So, what is your, yeah, we say it as that, that, customized facial, the essential facial. But it could be something simple. Excuse me. Versus your advanced. So advanced starts to dive into your, you know, microneedling, your LEDs, your what else would be on that list? 

[00:03:52] Speaker 2: I'm trying to think maybe a gentle peel, you know, 10 percent glycolic, that type of idea. How do you start advancing it? Whereas I think your premiums [00:04:00] become that specialty level of your combining maybe. Some gentle peeling with microneedling LEDs maybe a sculpt and lift. It depends on the skin, of course, what you're able to do, but if you offer it in a way that, that can be, and again, like I've, we've said this before is chat. 

[00:04:17] Speaker 2: GBT will help you kind of reformat these things to simplify, but it's hard because I think as a professional, many that people that I encounter, that's how their brain works and they need to know that they're offering the spatial. So it's on the list and it makes it clear to the client. Well, I understand your idea behind that, but you just need to explain why you're doing that treatment on them. 

[00:04:39] Speaker 2: They don't need to know that they're picking that treatment. Like, specifically, right? Because what if you know this other one would be really good for them? And it's the same price. And they're going to get way more results, but they're stuck on I don't know, it's got pomegranate in it. Like, you know what I mean? 

[00:04:55] Speaker 2: Like, I don't know, it's, it's something, I think it's hard for some [00:05:00] beauty professionals to get their head around that a little bit, but some menus, when you go online, it's like, oh my God, you scroll and scroll and scroll and scroll. It's like, it's just too much. Like, it's overwhelming  

[00:05:11] Speaker: for the client because they're not to be able to know which one to pick. 

[00:05:16] Speaker: Right. And I think if in your description, you can identify, like, whatever your concern is, whether it be, you know, anti aging or breakouts, these, this facial is customized to meet your specific, you know, because sometimes if, you know, somebody's going on in there, they need an anti aging facial, for example. 

[00:05:38] Speaker: If they don't see that, are they going to get turned away? And you would want that on your menu somehow, especially on your website for like SEO content, but you can put that. You can roll it in somehow without having so many different facial options. It's like a menu at a restaurant. I can't handle menus that are too big. 

[00:05:57] Speaker: It's like, I never know what I don't know what I want.  

[00:05:59] Speaker 2: [00:06:00] I've got top three here. I'll make my decision when they come around. Right. And then you still get to make the decision. Cause you know, the food, but as a professional, maybe it's the chef going to come in and recommend to you. What would you think of that? 

[00:06:13] Speaker 2: Yeah, it's a different way of thinking. And I get that. But I think. Give people look at it and try to, you know, if you have 10 facials, is there any way you can knock that in half? Like, like, how could you categorize them? Like, could they be categorized to, oh, here's my peels, or here's my anti age, I mean, they're all anti age, but you know what I'm trying to say. 

[00:06:35] Speaker 2: You're brightening, you know, I mean, they all fall into all of these things, but how do you get creative? You know this as a professional, but then what are some things that you could help them understand? Right. And, and I think if you add and start with your free consultation, then we dive into blah, blah, blah, blah, blah. 

[00:06:54] Speaker 2: Right. So you can let them know it's a, it's a conversation with the two. So we understand your needs. [00:07:00] I mean, I remember seeing one, which was so unique. They had, they had, I don't remember what it was. It's called when this is years ago and had one facial, one facial, but it's because they did a consult, sat down with the person, figured out what they needed and then told them everything. 

[00:07:18] Speaker 2: Then they gave them the price and the price range on the facial would say, I don't know, today you say 100 to 300, but it was a discussion made and I thought it was really unique because now you're involving your client. It's hard. And I get that. It's hard because you just want them to pick and you want to book. 

[00:07:34] Speaker 2: You want to come in and do your day. And I get that. But you know, being a solo entrepreneur, you got to join the hustle and the hustle is you got to be creative. You got to change things up. Yeah. Make it easy on your clients. Make it easy for new people to book with you. Mm hmm. Exactly. That's where I think we missed the boat on that a little bit, you know, but what are some examples? 

[00:07:57] Speaker 2: I guess what, that's what we could get into is like, you know, the [00:08:00] transformation facial just came to my head. You know, you could glow facial or the brightening treatment, radiation, radiate. You'd also have a signature facial. I think it's really important to have a signature because it's you, you're the brand. 

[00:08:17] Speaker 2: Not your brand, a product. And I think that's where we forget. I'll be kind of, you know, on the safer side of how I'm going to say this, but a lot of times brands are going to tell you, here's your facial, here's your description, and it's all brand based. It has nothing to do with you. So where's your expertise on this? 

[00:08:39] Speaker 2: And when I say that to some professionals, they kind of go, oh, well yeah. Whereas the brand is selling you the product. And they're being helpful to give that information to you, but is it helpful for you? What if you find a new brand or a new treatment you want to bring in?  

[00:08:54] Speaker: It's a great place to start when they give you that. 

[00:08:57] Speaker: Take that as a starting point. And then make it your [00:09:00] own. Like everything else, really. Yeah, exactly. Yeah. I love that. I think that leads us into our next We combined these two questions, specifically because we thought they went so well together. And it was, you know, if you're considering, you know, what treatments should I offer? 

[00:09:15] Speaker: What treatments should I have listed? I think it would then And we've heard this a lot. Our listeners, you know, submitted this often as a question is like, how do I price my services? You did mention like in one of the examples you gave where you could do a range 100 to 300. I always see this with whether it's like phone plan, or insurance, or Any of the platforms that I have a subscription to, you've got a tier. 

[00:09:44] Speaker: You've got your your intro, gym membership does this, you've got your middle one, and you've got the most expensive one. And usually they create these where that middle one is the one you want to pick. That's the best, that's the most bang for your buck. So you're [00:10:00] gonna Do it that way when you're looking at facials. 

[00:10:02] Speaker: I think you can do that for nails or pedicures too because some pedicures are going to be, you know, an easier go and some you want, it might want to take more time or. Yeah, you're adding the scrubs,  

[00:10:13] Speaker 2: you're adding care. Yeah,  

[00:10:16] Speaker: for  

[00:10:17] Speaker 2: sure you could extend it. You  

[00:10:19] Speaker: can have a, you can have like a pricing tier, but how, how do you know where to even start with that? 

[00:10:24] Speaker 2: Yeah, I think you have a look at how do I say it? Well, I most don't like to dive into this, but what is your cost? Have you figured out what the cost is to do that service? Just product wise. Then you have to consider your time. So let's pick an hour. That's easy one to go with. You're doing a facial and the facial is going to cost you with product alone 15. 

[00:10:47] Speaker 2: Let's say 10, 15, a basic. One hour facial, right? So now you add that and just get your paper and pen out or your calculator whatever you want to do and you add. Okay, there's that. How much do I want per hour? [00:11:00] Think about that when you say it. Yeah, we all want 100 an hour or more. Put it in there. Then you're going to start to see. 

[00:11:07] Speaker 2: Some people will look at what their neighbor or in their neighborhood is offering. But first do this for yourself. Now you've got to add the overhead cost of running your business. So, you have bills. Electrical, heating, water. You have towels, you have disposables. Like, how much disposables are being used during that service? 

[00:11:26] Speaker 2: Calculate it. In. If you do this little bit. It'll make it so much easier to price in something else because you already have the basis done. So if you think of facial and you like to use disposables, well then, you know, then you need to understand you're not just going to take a handful of gauze, you're going to average, say, eight 4x4 gauze for each facial. 

[00:11:47] Speaker 2: I'm not saying you have to figure out there's 500 in a pack and do that, but if you wanted to you could. Right. And divide it and more or less, this is just a gauge. So divide that up and see what's your overhead [00:12:00] on that. And then look at, okay, I'm going to do the basic facial because the cleanse, the tone, all that's the same, but now I'm going to add on, I'm going to add led, I'm going to add a glycolic, I'm going to add whatever you're adding to this. 

[00:12:14] Speaker 2: Is there time involved for this? What's how much longer is the time of your treatment? Your service? Is there equipment? Meaning, you know, yes, you purchased an LED, but you have wear and tear on it. So you got to add in something to cover the costs of that so you can replace it when it dies on you. Or it's not working anymore. 

[00:12:35] Speaker 2: So I think that's why people forget about the equipment side of things. You need to add something onto that. And if you buy something, say, Hey, what do you think the average time, lifetime is on this steamer? Do you know how many treatment steams I could get out of this steamer? Like, they might have that answer for you. 

[00:12:53] Speaker 2: If they say, Oh, you know, if you averaged, you know, two facials every day for the next five years, you should be good to go. Well, then figure out your [00:13:00] steamer cost you 300. It's going to be this many treatments I can get out of  

[00:13:04] Speaker: it. What if they don't have that information for you? Like, how do you figure that out by yourself? 

[00:13:11] Speaker 2: I think if you look at it in reasonable, if you say a steamer is going to be so much, and let's say it died within the year, worst case scenario, because the warranty is gone. Right? So then maybe go by warranty time. What if I had to replace the steamer? So maybe look at it that way. Most are going to last you a lot longer if you take care of your equipment. 

[00:13:30] Speaker 2: I know people who've had their steamer for 20 years, 30 years. They took very good care of it. And I think that's another part that we have to be more diligent on is the care of our equipment. Yeah. And then if you're adding on, for example, sculpt. Sculpting massage is so big out there and buckle massage so big, you're not adding product. 

[00:13:49] Speaker 2: You're adding your time. So you're adding 20 minutes to 30 minutes to 40 minutes to a treatment. So now, sorry, now that [00:14:00] is completely different. Now you got to add the time on and make sure that you're looking at You're staying on time, because this is another action I would say that we have trouble with, is like, well, I didn't have anyone after, so I just went a little longer. 

[00:14:15] Speaker 2: I took my time. It's like, oh, that's a negative thing to do. Stay on time. Yeah, in the end, it's like, if you think that you're worth 100 an hour, what value are you giving that client for that hour, for that 100, is another way to flip that. So, okay, would you pay that? Would you go get that service yourself for 100? 

[00:14:37] Speaker 2: And I think that's another way to look at it. It's like, okay, I'm doing a basic facial. It's only cost me 20. No, and end my time. So it's 50. I'm going to make 50 on that service. Don't be that hard on yourself because that doesn't include your bills. And your overhead and your rent and your insurance and everything else. 

[00:14:55] Speaker 2: So you're really, how much are you actually keeping? So I think in your structure, [00:15:00] your, your services, you got to look at what's involved. How much time, right? What goes  

[00:15:06] Speaker: into their percentage of overhead costs? Like how somebody who's starting out is not going to have that data in terms of like, Oh, what are my overhead costs? 

[00:15:14] Speaker: Like, I don't know what they are. Percentage. Can I look at my percentage of my facial like so if I've now said I'm going to it's cost 15 and I want to get 100 an hour. So now I'm at 115. So I'll add 20 percent for or whatever the percentages is there like that number I'm thinking 20 percent would Adding X amount percentage was that would be like my overhead cost until you figure it out at the end of the year, but you're not going to know in advance. 

[00:15:46] Speaker: I don't think  

[00:15:47] Speaker 2: it's hard to know in advance because what are your bills, you know, your insurance cost per year. Yeah, you have to incorporate your cost of your insurance. So if you figure every month, the cost to run my business, because every month [00:16:00] you have a bill, you usually have rent or a mortgage, right? 

[00:16:03] Speaker 2: You might have an interest payment you got to make, you will have your heating electrical, I don't internet, all these things. So if you add that up every month, how much is that? And you want to cover those costs. What What does that look like today? So if you say you're only going to work three days a week, and your bill is 100 a month. 

[00:16:29] Speaker 2: So three divided into 100. That's your percentage. Of your cost.  

[00:16:34] Speaker: So you're gonna, and I'm going to break this down because some, some people are not, me included, are not, it takes time to like absorb this type of information that you would add up all your expenses for the month. So say that, you know, 100 is Low, but let's say whatever 1, 000 is the cost of all your bills, your insurance, your rent, whatever, let's just say 1, 000 because that's a nice round number.[00:17:00]  

[00:17:00] Speaker: And you're working three days a week. So three days at four weeks every month, you're working 12 days out of that month. So you're going to take 1, 000 and you're going to divide it by 12. Right? So then you've got How do you know that's $83? How many services am I doing in a day? Like how do I then calculate the percentage? 

[00:17:23] Speaker: Well, what do you do from there on a, what do you do from there? Like this is, so then  

[00:17:28] Speaker 2: the next step I would look at is, well, how many services can I do in a day? What's my target? Is what if you had one service in one day? Exactly. So  

[00:17:36] Speaker: what are your services? So then let's say I'm working five hours every day. 

[00:17:40] Speaker: It depends what service I'm doing, right? Like I can do 20 Brazilians, but I can only do, you know, three facials. Oh, you know what I'm saying? Like, so that is really dependent. So how would you then, and I'm only asking because. I, I've all often, you know, you'll hear financial advice and it's like, they don't break it down for you. 

[00:17:58] Speaker: And [00:18:00]  

[00:18:00] Speaker 2: I'm on the side of like, I  

[00:18:01] Speaker: need it broken down. Tell me details. Unless  

[00:18:03] Speaker 2: you were a lash tech and did the same service all the time, this is very easy to do because you know how much you can do every day or you're a nail tech. But when you're an esthetician offering many different things, then you need to look at, you track it for your first month. 

[00:18:18] Speaker 2: Is what I would do and see what that looks like. So out of your, how many days did you say? 12 days in a month. So you're going to look on 12 days. I did X amount of dollars. So that was I don't know, say 200 a day. That's to say it was 200. I'm just throwing it over. You would have to actually add it all up, right? 

[00:18:38] Speaker 2: Then you had to minus the cost of your treatments on this. And then minus your 83.  

[00:18:45] Speaker: This is, you're backtracking though, because how are you, you already need to set your prices before you can calculate what you've  

[00:18:52] Speaker 2: But you want to know your outcome, you want to know what you're making, so you need to know all your costs. 

[00:18:56] Speaker 2: That's why I'm bringing that. So you said 1, 000 a month is your [00:19:00] bills and everything? Yeah,  

[00:19:01] Speaker: let's say like I'm renting a place or I'm using my room. I've determined 1, 000 is my thing, 12 days a week is what I'm working. So I, I have to make, so my cost is 83. 333. So let's say 83 a day out of everything. 

[00:19:20] Speaker: That's not product. We're not doing product. Because you, you told us that product, you, you calculate that per service. So that's, we're, we're only doing overhead costs on business right now. Okay,  

[00:19:32] Speaker 3: yeah.  

[00:19:33] Speaker: So 83. Yeah. Because that is, and I mean, in my first year of business, that was a big surprise, the overhead cost. 

[00:19:39] Speaker: I work from home. By myself. And it was huge. So this is a very, this is why I'm like, I'm, no, we're staying on this. I want details. 80, let's say 83. So it's easier to calculate. So of the 12 days, I can break it down. 83 a day is what my cost. So I have to cover [00:20:00] 83 a day, right? Yes. So then maybe you just make the assumption. 

[00:20:08] Speaker: Do you go by assumption of how much I want to earn that day or how many services I do? Maybe we go by earnings. Like let's say I plan to at least make 200 a day.  

[00:20:19] Speaker 3: Okay.  

[00:20:20] Speaker: Would that be like, no, I'm asking like, how do you, how do you calculate that? 

[00:20:27] Speaker 2: Well, sorry, I'm just looking at my camera. Not sure what happened there. It's a really weird angle. Well, it just disconnected for some reason. Not too sure. I'm just going to do that. Okay, so if you are doing different treatments, Unfortunately, this is going to have to be your maybe weekly to kind of figure out what you're doing. 

[00:20:51] Speaker 2: Because if you're offering all these different services, it's not an easy number. You can just average it. What is the average in the month? So if you're going to do, [00:21:00] so some people look at it this way, you're doing many services and you want to make 200 a day. So you need to divide how many services you're going to, okay, how many hours you're working on that day, but what services can you offer in that day? 

[00:21:13] Speaker 2: Realistically? Yeah. Absolutely. in time, like timeframe. So if your facials are an hour and a half and you're only going to work five hours, well, how many facials can you get in that five hours? Right. So it's dependent on that. So yes, you can make the 200 a day, but then you got to look at what the cost is. 

[00:21:31] Speaker 2: Like, what are you willing to do in that timeframe?  

[00:21:36] Speaker: Okay.  

[00:21:37] Speaker 2: Does that make sense?  

[00:21:38] Speaker: It does, but it doesn't answer, like, how do you add that on? Like, when you're trying to figure out how to price your services, and one of the notes was that you have to calculate your overhead costs. Yeah. How would you calculate that when you're trying to figure out not how do you calculate it, but how do you add it into your service costs? 

[00:21:58] Speaker: Like, how do you figure that [00:22:00] out?  

[00:22:00] Speaker 2: Well. I personally knew the cost of all my services. I had a spreadsheet on it. So I could calculate out using the spreadsheet. I did pedicure. I did waxing. I did two facials and I did something else. On that day, I could see that that cost me. I quickly just referenced, okay, that day cost me 60 to do my services. 

[00:22:23] Speaker 2: Let's just say on average. So now 60 plus 83, that's your daily cost. Okay. Right now, where's your wage in this?  

[00:22:35] Speaker: Right. Okay. So, yeah, maybe I'm not like asking the, like I get how you calculate the cost, but how do we help people figure out how to roll that cost into each of their services, right? Like, for a facial, for example, you said, Think what are your product costs for the facial? 

[00:22:54] Speaker: That's the first thing. Then what hourly rate do you want to get paid? That's the second. And then [00:23:00] what are your overhead costs so that you can roll it in? So how do you, that is the question where it's like, yeah, you can figure out your product costs for the facial because you know what you're going to use, right? 

[00:23:11] Speaker: And you can determine that in advance when you've picked out your product line and you've, you know, have your prices or you can determine how much it is you would like to get paid. And how do you go from knowing what your total overhead cost is to adding that into the price of each service?  

[00:23:28] Speaker 2: Right. 

[00:23:29] Speaker 2: Okay. So let's go by with the numbers we set. So we're going to say we work eight hours a day  

[00:23:34] Speaker 3: and it's  

[00:23:35] Speaker 2: 200, 200 you want it. So that's 25 an hour. Okay. For you yourself.  

[00:23:43] Speaker: Now that's the price of overhead cost is 20 for every hour you're at work. It's costing you 25.  

[00:23:49] Speaker 2: No, no. You said you want to make 200. A day. 

[00:23:53] Speaker: Oh, yeah. Yeah. Well, yeah. Okay. Right.  

[00:23:56] Speaker 2: Right. So if you want to make 200 a day, [00:24:00] eight hour a day, that's 25 an hour.  

[00:24:02] Speaker: Okay.  

[00:24:03] Speaker 2: Now your cost of product that day, 63, we just kind of guessed it. Yeah. And then the cost for your bills to keep your doors open. So cost of product was 63. The cost of your keeping your doors open is 83. 

[00:24:22] Speaker 2: Huh. Right. 

[00:24:27] Speaker 2: So then, when I look at 63 is the day, 83 is the day, so to run on average, again each service is different, we're just kind of picking a number on average, 63 on your service cost, so plus your 83 for your rent and bills, blah blah blah, that's 146 it's costing you that day. Okay, it's just adding those two up, 

[00:24:57] Speaker 2: but you want to make 200 a day. So [00:25:00] what are you left with? You're left with 54 as a, as that includes your wages are paid. So you're left on top of that 54. So if you go 54 divided by 146, your, your total is about 36%. Mm hmm. Because you're asking for So I asked  

[00:25:21] Speaker: ChatGPT. Okay, good. And here's what ChatGPT said. 

[00:25:26] Speaker: So it did the same thing. You identify your overhead costs, like your rent, your utilities, your insurance, your license, all of that. And it was also included like employee salaries, marketing, and advertising. And so it came up with, let's say it's 1600. And then you're going to determine monthly service hours. 

[00:25:46] Speaker: So if you're going to work 40 hours a week and operate four weeks a month, that's a total of 160 hours. So it's saying to take the overhead costs, like 1, 600, divide it by 160, [00:26:00] and that you get 10. So you, for every hour of a service, you would add 10 for your overhead cost. 

[00:26:12] Speaker 2: So  

[00:26:12] Speaker: like a one hour facial, you would do like the products, whatever they cost for wage and then 10 for your overhead cost. So if your pedicure is an hour and a half, you do 15. It  

[00:26:23] Speaker 2: might be an easy one right there, say 10 percent on top of everything. 10%. Yeah.  

[00:26:28] Speaker: Yeah.  

[00:26:29] Speaker 2: That's on average.  

[00:26:30] Speaker: This is really good. I'm going to use this for myself. 

[00:26:33] Speaker: The other thing too is that  

[00:26:34] Speaker 2: I think, I think from, I don't know what it is now because I don't run my own business, but at one point it's like your cost should never be more than 10%. Yeah.  

[00:26:43] Speaker: Yeah,  

[00:26:44] Speaker 2: because then you're not going to remember that. Yeah, you're not going to profit. So 10 percent could be that that that guide of a number. 

[00:26:53] Speaker: Yeah. Yeah. Cause I mean, you want to simplify. And I think once you're in business for a certain amount of time, [00:27:00] like we always talk, like review your stuff at the end of the year, maybe then you're like, okay, I need to actually charge more because I'm, you know, my cost is too high or whatever it is, but as a base of where can you start know that you can start one place and that you can change your prices down the road. 

[00:27:17] Speaker 2: Absolutely.  

[00:27:18] Speaker: You have to, to make sure you're making money and it's not costing you money.  

[00:27:21] Speaker 2: That's right. And it comes back when I did my expansion, I did review every month and just on average to see what was happening. 'cause it was new to me. And then quarterly is when I revisited it. Yeah. To look at everything. 

[00:27:36] Speaker 2: And then cost wise, people are not gonna like this when I say it, but every year you need to raise your price. Mm-hmm . Even by 2% because if you don't for a few years and then you land them with. This happened to someone I know, her nail tech, she's telling me, she says, Oh, it's become ridiculous. It was 40 and now she wants 55. 

[00:27:57] Speaker 2: I go, that's a 15 [00:28:00] increase. But in their mind, it's only 55, but I'm going to, I'm going to play the other side of that. If you were paying 40 divide to 55, that was a 30 percent increase. Yeah. That's harsh. So think of your food. If when it goes up by 30%, we feel it, don't we? Yeah. So that's why I say don't wait. 

[00:28:29] Speaker 2: To increase your pricing. Think about what you can do every year. Very small and subtle, and then they get used to it. Because your rent goes up, your bills go up, everything goes up. And that's what I used to say. They didn't like it. And I'd say, listen, everything goes up though. Do you not see your bills go up, and your food go up, and your insurance go up? 

[00:28:47] Speaker 2: Everything goes up. Do you think that doesn't happen to me and my business?  

[00:28:51] Speaker: I think people expect it, especially nowadays. We're in a place where people know the cost of everything is going up. So if you make small increases, it's [00:29:00] easier to, it's more, it's easier to handle than doing a big jump because you haven't calculated it properly. 

[00:29:05] Speaker: That's  

[00:29:06] Speaker 2: right.  

[00:29:06] Speaker: Yeah, exactly.  

[00:29:08] Speaker 2: Mm hmm.  

[00:29:08] Speaker: Mm hmm. Talk of prices and money. Can always, it's a lot. It's sometimes those are the things you need to see like in front of your face So hopefully like we were able to  

[00:29:20] Speaker 2: to help you. Yeah  

[00:29:20] Speaker: help and be clear You know, it's not it's not always easy to figure out but this is a part that it's important to put in the time Figure it out and know that you can always go back and reassess Quarterly, welcome to business. 

[00:29:33] Speaker: So I tell you we have to do it if you want to survive, right? Yeah, exactly The hat you gotta wear indeed. Well, anytime you have a question, click the link in the episode description and let us know. We love answering listener questions.  

[00:29:48] Thanks for listening to Beauty Babble.