Good Morning lovely people! I am back ( I never left) and I am very excited to bring you a wonderful new article to hopefully help you make more money! That’s right! I have done some digging and research and even asked my comrades and peers for their helpful advice. I wanted to first ask, when was the last time you have raised your nail salon prices for your services you provide? I ask this because it was asked to me one day. A lot of asking going round right? Anywho, I was apprehensive and realized I haven’t raised them in a while nor did I believe I needed to. They seemed just fine. But what I didn’t realize is that I should give myself regular raises.
But I know you might ask, why? The economy is always changing and with the change we have to adapt. Prices of milk have gone up, and also, gasoline, electronics, clothes, and more. Inflation is a very serious thing and if we don’t go with the flow, we will be left behind. So I believe it is important that you raise your prices every year if not every two years. Remember, the products you use are expensive, taking classes to educate yourself is expensive, and investing in yourself is necessary to stay ahead and to just stay afloat. And the best way to stay afloat is make sure you are even with the price wars going on in your area and region.
So I have created a chart on factual information to see what it would be like if you raised your prices. This will be per month and per year based off of a $5 increase, or $10 increase on just one service. Let’s take a look see shall we.
So let’s say we have a client that visits us for a hypothetical pedicure service at $50, every two weeks for an entire year. There are 52 weeks in a year, so that would be 26 weeks they would visit you for routine service. If you wanted to increase your price by $5 or $10 you would increase your earnings by $130 or $260 for the year for just one person. Lets visualize with a chart.
| 2 Week Client | Original Price $50 | Increase $5 | Increase $10 |
| Visits 26 Weeks | $1,300 | $1,430 | $1,560 |
Do you happen to see that client every 3 weeks for an entire year? Well let’s see how much in earnings you would have increased for that. If you wanted to increase your price by $5 or $10 you would increase your earnings by $90 or $180 for the year for just one person.
| 3 Week Client | Original Price $50 | Increase $5 | Increase $10 |
| Visits 18 Weeks | $900 | $990 | $1,080 |
But what if you were charging $80 for a service? To get closer to a full set price perhaps. I want these charts to be as inclusive as possible, and also very easy to read and comprehend, while tailoring them to most nail techs. Some techs charge more than $50, so lets do the math for those possibly charging $80, for a 2 week client and also for a 3 week client, based off of a $5 increase or $10. Let’s look at the chart below.
| 2 Week Client | Original Price $80 | Increase $5 | Increase $10 |
| Visits 26 Weeks | $2,080 | $2,210 | $2,340 |
As you can see, with those increases, you have now made an extra $130 for a $5 increase or $260 for $10 increase. As you will see in the next chart, the increases will be the same for the 3 weeks client at $90 for $5 increase or $180 for a $10 increase because you’re only adding the extra variable of $5 or $10, the amounts will just be higher because you’re making more on a service.
| 3 Week Client | Original Price $80 | Increase $5 | Increase $10 |
| Visits 18 Weeks | $1,440 | $1,530 | $1,620 |
The point is, by adding an additional $5 or $10, you’re increasing your overall income by just that much for the year. Which adds to the total value or a price increase, when you look at the bigger picture.
Let’s make the picture bigger, clearer, and more significant based off if you had 50 clients, at $50 a service every two weeks. This is a rotating schedule.And then include the price increases. Stay with me.
| 50 Clients | $50 Service | Increase $5 | Increase $10 |
| Visits 26 Weeks | $65,000 | $71,500 | $78,000 |
So as you can see by doing a $5 increase, in just one year, you have made an additional $6,500 on just the clients you currently have. If you did a $10 increase, you would have made an additional $13,000. That is a huge increase in income by just raising your prices slightly. I like to think of this as what if each client tipped you $5, and then they all stopped. You would wonder why did you make $6,500 less than the year before, it’s because you missed out on an extra $5.
I hope I didn’t lose you on the math. But seeing real numbers helps give you an idea of just how much you can make additional income by giving yourself the price increases you deserve. These increases could help you go on vacation, pay for nail classes, treat yourself to a spa day, or even buy the premium brand of cat food you have always wanted to purchase.
But no seriously, go with the flow of the economy, do yourself right and adjust for inflation. Nail products have come up and so should you. I hope you all enjoyed this article and found it very helpful, I plan making lots more to help with our nail services. Until then, I’ll see you later sweets!
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