GO BEYOND YOUR COMPETITORS
Steer your Profits forward with in-depth knowledge.
THE RESEARCH INTO “PRICING YOUR SERVICES” INVOLVED OVER 30 YEARS OF BUSINESS EXPERIENCE, ULTIMATELY THIS TRANSLATES INTO A WELL TESTED SUPERIOR QUALITY PRODUCT. WE KNOW THE TRIALS YOU WILL FACE, BUT REST ASSURED, WE KNOW EXACTLY WHAT’S NEEDED TO HANDLE THEM. YOUR BUSINESS HAS AN UNCERTAIN FUTURE IF YOU’RE STEERING A RUDDERLESS SHIP.
3 – 5 hours one on one private education in your salon with our Author.
$1500 + (gst & Travel)
- We will calculate and complete an in-depth analysis of your Cost+margin prices.
- Explain and discuss Perceived Value Pricing and how you can apply the model to your business.
- Together we will look at your market placement and analyse your Price Structure to create a Price Rise Strategy for your business.
- Set benchmarks and staff targets to secure your profits.
- When you Book a Full day Private workshop we will complete market research of businesses in your area prior to arrival and study your current price structure. The day starts by giving you an overview of the price model that is affecting your business and then we move into the building of your price structure, using a combination of Cost plus margin pricing and Perceived Value Pricing. We will guide you through your salon’s data entry onto the APP, with a full explanation of how to plan your business strategies.
Is it worth the $1500 investment?
- The Median salon in Australia has 5 staff and turns over around $12,000 per week.
- A $5.68 increase in price will provide an extra $50,000 of income P.A. for a business that size. Most businesses we work with will have doubled their investment in the first 2 weeks, remembering that profit is ongoing.
- By investing in your business education can confidently set a profitable price structure and a price
At the end of the day, you will have a clear understanding of the forces contained in the market your salon is placed, and you will have the knowledge to attract your target market and maintain your profit margin. You will have a strong and profitable Price Structure and a strategy in place to move your prices upward as costs increase. You will also be able to set accurate benchmarks for your staff that will ensure your Business success.
YOUR PRIVATE WORKSHOP WILL ENABLE YOU TO:
Understand Market & Competitive Pricing
Calculate your Cost Plus Margin Price
Apply Perceived Value Pricing
Target the Right Client Market
Create an easy to understand, profitable Price Structure
Build a clear Price Rise Strategy
TEST YOUR PRICE STRATEGY KNOWLEDGE
In most cases Salon Owners have never been taught how to accurately calculate and prepare their price strategy, and almost certainly have never prepared an effective price rise strategy. Try this quick Quiz to find out how in-depth your knowledge and how strong your Salons Pricing Strategy really is. Be Honest, Give yourself 1 point for each “YES” answer, remember this IS NOT a game this is about YOUR business Profitability. If you didn’t answer “yes” to all of the questions we can help you improve your profit dramatically. If you answered “yes” to all you don’t need our help to maintain your profit margin.
1) Do you Accurately recalculate your Hourly Price rates every time your business situation changes (i.e. staff level changes, wages rises, downtime fluctuations, product price increases etc).
2). Do you add the cost of downtime to your hourly seat time price.
3). Have you removed the cost of Retail Sales from your Seat Time Price.
4). Do you understand how Market and Competitive Pricing restricts your business growth and why this model needs to be minimised in your strategy
5). Do you know the seven steps required to calculate your Cost + Margin Seat Time.
6). Have you set a price for the perceived value in your service and have you compared that to the perceived value offered by your Competitors to allow upward price movement.
7). Have you performed a demographic model selection on your database to determine your preferred client model, have your surveyed this model to determine what they value.
8). Can you describe the 5 best Price Structure Models used to create an effective Price Rise Strategy.
9). Do you know how to set accurate productivity benchmarks for your staff. (3 or 4 times your wage is not an accurate measure)
10).Have you added bonus and commission costs to your hourly seat time price.