Beauty Launchpad Magazine

OCT 2018

Beauty Launchpad is everything beauty for salons & stylists! Stay on top of the latest hair style trends and products for hair, skin, makeup and nails. Get hair color ideas, business advice, education tips and beauty industry news.

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Page 34 of 104

30 | BEAUTY LAUNCHPAD | OCTOBER 2018 F itchburg, Massachusetts-based salon owner Amy McManus (@camoufl ageandbalayage) admits that service pricing remains a scary topic for most stylists. And the problem lies not in providing maximum value to clients, but in properly valuing yourself. Sadly, many experts say that stylists aren't charging what they're worth, which can lead to feelings of resentment and, ultimately, deep-seated career dissatisfaction. "Too many stylists feel they need to apologize for what they're charging," McManus laments. "Today's services, compared to fi ve years ago, are so much more time-consuming, but stylists are terrifi ed to charge more." Gina Bianca (@the_hair_doctor), owner of Gina Bianca Hair in Plantsville, Connecticut, woke up to this industry-wide problem when she created a viral Instagram post that received positive and negative comments: a before-and-after pic accompanied by the service's steps and cost. Despite the controversy, Bianca asserts that accurate service pricing not only ensures the health of a stylist's career, mind-set and moneymaking potential, but it's also crucial for boosting client trust and retention. "Don't look at what the salon down the street is charging; look at your cost of product and the profi t you want to make," Bianca advises. "Include detailed descriptions with every service, and don't skip steps. If a client can't afford your price, fi nd out what you can do within her budget. Be honest and transparent!" Similarly, McManus doesn't give clients an "opt-out" when it comes to following appropriate service steps (think toners or conditioning treatments). And pricing fl uctuates according to hair length or texture—when additional time is needed, costs rise. "Finally, I ask myself, can I multi-book?" McManus adds. "I generally book three balayages at once; doing one at a time, I'd simply have to charge more." Are you undercharging for your services? Many pros posit that this basic business error is more common than you think. —TM The Price Is Right Live & Learn/ Business Affairs COURTESY OF AMY MCMANUS AND GINA BIANCA HAIR RAISING When should you hike up your fees? Bianca believes stylists must give themselves a yearly raise if they're constantly improving their skills (think: continuing education or competitions). McManus, meanwhile, advises assessing your demand: Do you have a lengthy waiting list? Are you doing exceptional work? If so, it's time for a raise! GINA BIANCA'S PRICING POINTERS 1 Calculate product cost and desired hourly rate. 2 Create a pricing breakdown for every service—everything it includes, and what each step costs. 3 Provide a strong consultation and communicate the pricing breakdown. 4 Keep in mind: Extra bowls equal extra time and cost. 5 If you can't estimate a service time (like for color or corrections), create—and stick by—an hourly rate. One of McManus' balayage clients Bianca's viral Instagram post! Gina Bianca Amy McManus

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