Increasing Revenue & How To Price Your Services: Episode 21
In this episode, Yovanka and Kirsten share a personal revolution in how they approached service rates, drawing inspiration from the sage of the salon industry, Carl Kealy. Brace yourself for a “treasure trove” of insights that will reshape your perspective on pricing and assist you in Increasing Revenue.
All About Pricing Strategies:
In the initial segment, we explore the fundamental importance of pricing strategies for salon profitability. Yovanka shares a transformative tool introduced by industry expert Carl Kealy that completely altered her approach to setting service rates in her own salon. We discuss the significance of setting prices based on unique costs and operating margins, rather than blindly following industry standards or competitors’ pricing.
Salon Pricing and “Experience Measures”
Moving forward, we dive into the nuances of pricing services based on experience and efficiency. The relationship between a stylist’s skill in performing services, such as swiftly applying foils, and their ability to charge more is illuminated. We emphasise the vital role of time efficiency in setting service rates, providing a real-world example of how speed justifies higher prices. We explore practical aspects of product use and cost calculation using pricing tools to ensure the optimisation of profit margins.
Easy To Incorporate Pricing Strategies and Revenue Growth Tips:
The emotional journey and practical strategies for implementing a tiered pricing structure take centre stage in this segment. We address the importance of confidence in one’s pricing model and offer insights into combating emotional decision-making. The dream hourly calculator is introduced as a powerful tool for setting financial goals and establishing clear financial targets. Whether you’re an independent professional or a salon owner, this episode offers indispensable guidance on planning your finances and pricing your services with strategy.
Commission Structure and “Dream” Calculator:
In the final segment, we touch upon the significance of a well-structured commission system. The dream calculator has been recognised as a transformative tool to help individuals effectively plan their financial goals. We commit to assisting those interested in implementing this tool, underscoring our readiness to support our listeners in their professional endeavours.
This episode isn’t just about numbers; it’s about a mindset shift. Implementing the right pricing strategy can be a game-changer. When armed with the right knowledge and tools, you’ll sculpt your pricing framework with ambition and precision.
Ready to unlock the secrets to a thriving salon business? Join us on this journey to profitability…
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– The CEO Stylist Podcast: https://www.instagram.com/theceostylistpodcast/
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– Kirsten Harris: https://www.instagram.com/bdbgroup.aus/
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– YL Education: https://yovankaloria.com.au/apply-now/
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Connect with Kirsten through her Linktree: https://lnk.bio/bdbgroup.aus/
Remember, your success is our mission.
