Getting your salon or spa’s treatment price list right is vital to remain competitive. It may sound easy to simply undercut all the other salons and spas in your area, but this will only lose you revenue in the long term. Therefore, we share five considerations for you to create your ideal treatment price list.
Work out how much each treatment costs you
To figure out your ideal treatment price list, you first need to know much each treatment costs you. To work out a basic outline, add together your consumable product expenses, running costs and wages. You will then be able to work with this number and mark up your treatments accordingly.
What is your hourly income?
Your treatment price list not only needs to cover all those costs mentioned above, but also your hourly income. That may sound obvious, but it is often overlooked. That means your prices will need to incorporate your staffs’ wage for the time they worked, taking into account their experience and training, as well as any profit made from that service.
Add value to your treatment price list services
Adding value to your services justifies the cost of each treatment on your price list. So, instead of decreasing the costs to remain competitive, you could add those finishing touches to enrich each treatment’s experience. This could include a complimentary mini bottle of moisturiser with a facial, or aromatic scents to help relax during a massage, as we outlined in our discount vs. adding value blog.
Know your unique selling point (USP)
What do you offer on your treatment price list that others do not? Clients will seek you out for your unique treatments and experiences compared to others in the area. With that in mind, make sure you charge appropriately for those USP treatments, such as those discussed in our alternative treatments blog, or those added embellishments that clients visit you for.
Re-evaluate your treatment price list regularly
You should review at your treatment price list at least once every year. Not only does the competition change, but you should consider reviewing your prices based on inflation, the upskilling of your staff and the worth of your business. Why not take a look at our blog to raise your salon prices without losing clients?
Using Salon by Premier Software® or Core by Premier Software®, you can set-up and amend treatment prices, examine reports on your most popular treatments, as well as offer discounts during a set period. To find out more, book a free presentation today.