Marnie here, I’ve heard this a million times:
“If I put my prices up, I’m terrified I’ll lose clients!”
Does that ring a bell with you?
I guessed as much. It’s one of the big fears of any salon or spa owner.
But guess what?
There are ONLY three ways to increase your revenue. In ANY business, doesn’t matter if you’re a big business, or a small business.
1) Get more customers
2) Get your customers buying more often.
3) Raise Your Prices!
That’s it. Whether you’re Apple, General Motors or a corner store, there are no other ways.
At Worldwide Salon Marketing, we’ve been coaching our Member salons on this for years. And for those who take action, the results can be pretty amazing.
Take Narelle McKenzie for example. When Rich Salon Owner author and WSM founder Greg Milner advised her to simply raise her prices by 10% without announcing it beforehand, she was a little taken-aback.
“But surely you can’t just raise your prices without telling your clients in advance?” she asked.
Well, yes, you can. Does your local supermarket put up posters telling customers that prices are going up in 3 weeks? Does your doctor write you a letter giving advance notice of fee increases? Nope.
They just do it. And people just pay!
In this interview, Narelle tells Greg how she instantly increased her weekly revenue by a not-inconsiderable $2,000 – by doing nothing more than changing her salon’s prices in the computer.
And nobody even mentioned it!