As a beginner lash tech, setting the right prices for your services is crucial to attract clients, ensure profitability, and maintain a competitive edge in the market. Pricing your services too low can lead to burnout and undervaluing your skills, while pricing them too high can scare off potential clients. In this article, we will explore five beginner lash tech price tips to help you navigate the pricing landscape and establish a successful lash business.
Understanding Your Costs
Before setting your prices, it's essential to understand your costs. This includes the cost of materials, equipment, marketing, and any other expenses related to running your business. As a lash tech, some of your costs may include:
- Lash supplies ( lashes, adhesives, etc.)
- Equipment (lash applicator, etc.)
- Marketing materials (business cards, flyers, etc.)
- Rent or studio fees
- Insurance and licenses
Calculate your total costs and consider them when setting your prices. You want to ensure you're making a profit, but you also don't want to overprice yourself out of the market.
Research Your Competition
Researching your competition is crucial to understanding the pricing landscape in your area. Look at other lash techs in your area and see what they're charging for similar services. Take note of the prices, services offered, and any promotions or discounts they may be offering.
This research will help you determine where you fit in the market and how to price your services competitively. Keep in mind that you don't want to price yourself too low, but you also don't want to be the most expensive option.
Set Tiered Pricing
Tiered pricing is a great way to offer flexibility to your clients and increase profitability. By offering different tiers of services, you can cater to a range of clients with varying budgets and needs.
For example, you could offer a basic tier that includes a standard lash application, a premium tier that includes a more advanced lash application and additional services, and a deluxe tier that includes a luxury lash application and premium services.
Tiered pricing allows you to charge more for premium services and attract higher-paying clients, while still offering affordable options for those on a budget.
Consider Add-On Services
Add-on services are a great way to increase revenue and offer additional value to your clients. Consider offering services like:
- Lash removal
- Lash tinting
- Lash perming
- Makeup application
Add-on services can be priced separately or bundled with other services. By offering additional services, you can increase the average sale per client and attract more clients to your business.
Monitor and Adjust
Pricing is not a one-time task; it's an ongoing process. Monitor your prices regularly and adjust them as needed. Keep an eye on your competition, client feedback, and market trends to ensure your prices remain competitive and profitable.
By following these five beginner lash tech price tips, you can establish a pricing strategy that attracts clients, ensures profitability, and sets your business up for success.
How do I determine my lash tech prices?
+Determine your lash tech prices by calculating your costs, researching your competition, and setting tiered pricing. Consider add-on services and monitor and adjust your prices regularly.
What are some common mistakes lash techs make when pricing their services?
+Common mistakes lash techs make when pricing their services include underpricing, overpricing, and not considering costs and competition.
How can I increase my average sale per client?
+You can increase your average sale per client by offering add-on services, tiered pricing, and bundling services.
We hope this article has provided you with valuable insights and tips to help you establish a successful lash business. Remember to stay competitive, monitor your prices, and adjust as needed. With the right pricing strategy, you can attract clients, ensure profitability, and achieve your business goals.