The Pricing Pandemic: 6 Steps to Setting Profitable Prices

Beauty Industry Leaders

Owning a business when the economy is booming can be difficult. But when the economy is suffering and the cost of living is a global crisis? Well, let’s just say there’s a reason that 10,000 beauty businesses have closed in the last 2 years. This week on the Beauty Industry Leaders podcast, you have me for a solo episode! I’m helping you check your pricing and ensure that you’re not only profitable, but you’re profitable in a way that’s going to maximise your business growth AND give you that freedom and lifestyle you’ve always dreamed of. The stark reality of the business landscape at the moment can be intimidating - beauty is a luxury, not a necessity, but customers still want accessible options and can be reluctant to pay the price tag. Heavy competition can lead to undercutting and undervaluing that discredits the whole industry and makes it even more difficult to feel confident that someone will be willing to pay the prices that you know your services are worth. That’s why it’s critical to not just know your numbers, you need to understand them and then make them work for you. From managing your financial statements to navigating tax implications, and even knowing when (and how!) to raise your pricing, I’m helping you change your money mindset and start valuing yourself correctly. We don’t want the beauty industry to become a race to the bottom of who can set the lowest prices - we want to embrace charging our worth for services that empower women to feel like the best version of themselves.
We’re breaking all the details down:
📈 Recognising the challenges facing the industry today
📈 Understanding cash flow, profit margins, and tax requirements
📈 Building client awareness and loyalty through professionalism
📈 My 6 steps to setting profitable prices for your business
Not sure if your prices are keeping you profitable or sending you broke? Download my FREE ‘Price for Profitability’ guide HERE.
If you’d like to go even deeper into your numbers and need someone to support you through the whole process, you can book a one-on-one business coaching session here: https://calendly.com/sammykennedy/profitable-pricing-financial-goals-session?month=2024-08https://calendly.com/sammykennedy/2024-25-profitable-pricing-financial-goals-48hrs
I want to empower women in the beauty industry to create an impact, build an empire, and leave their legacy!
If you have a burning question you’d like me to answer on the show, or just simply want to connect, reach out to me on IG.
And if you’d like to join our movement of ambitious beauty leaders, connect with us.