Many salon owners quake at the knees when I suggest they put their prices up. (It’s one of only THREE ways to increase your sales.) Remarkably, so fearful are so many about losing clients they even announce their impending price rises in advance.
Narelle McKenzie is one salon owner who’ll never again fear raising her prices – nor will she ever again give prior notice of price rises. Narelle is one of our Marketing & Mentoring program members. Two weeks ago during a coaching session, we worked on her pricing structure in detail. Watch this video and see how that 30 minutes on a skype call suddenly added more than $100,000 a year to her salon’s turnover…
So you have raised your revenue by $2,000 a week by just putting your prices up.
Yes – Thank you very much.
The second week we were closed for a public holiday and we turned over the same as a normal week having lost a day.
So before you put your prices up what where your fears?
We had always notified people that we were putting the prices up 6 weeks before hand.
This time we did not, and I did it instantly I literally put the phone down form you and put the prices up on the computer.
So you didn’t tell anybody, didn’t send any emails you just put them up.
Yes as you said McDonalds don’t tell you when they put prices up the petrol station don’t tell you when petrol changes they just do it.
So how do you feel about putting your prices up now.
Fine no problems.
So what has getting the extra money in meant for you.
Well we’ve been able to work out where are budgets are going. By putting prices up before Christmas we have all that locked and loaded.
So you have only put the prices up on color for you and one other seninor?
Yes that’s right.
So you and your senior you have added about $100,000 in revenue to the business.
Yes and I have still got 3 juniors who are on the old prices, they used to be 50% and 25% off. Now they are on full prices.
So can you understand where most salon owners are coming from when we say “put your prices up”?
Yes I can “I had a melt down” I though I can’t do that. And now I’m like what the hell why did I not do that earlier.
That would be nice in your pay packet.
Yes and instant $100,000:)
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