Raising Prices Calculator

The spreadsheet below is an active document that you can edit yourself. If you make a mistake or want to start over just refresh this webpage. NOTE: All cells shaded in red in columns B, C & D are cells that you input with your own information – everything else will automatically calculate for you.

To get started, input the name of your service in column B, as well as the current price that you charge in column c. Under “Avg # Services/Mo” in column D you will input the number of these services you do on average each month. The row below it is to input your anticipated additional # of services you will be doing in the future. If you do not see yourself increase the # of this service in the future just leave it the same as your current monthly # of services.

The differences that are displayed under “Monthly Revenue” & “Yearly Revenue” tell you what kind of additional money you would earn as a result of the price increase you put in. Play around with this handy spreadsheet to see what kind of money you could be making by increasing the price of some of your more popular services. You’ll be surprised at how small increases in just a few of your services will equate to thousands of dollars of additional income at the end of the year.

To download an Excel Spreadsheet with these formulas CLICK HERE.

Be sure to visit our other blog post titled “10 Steps to Raising Prices” that gives you helpful resources and best practices, as well as a sample letter for clients indicating your upcoming price increases.

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The Devil is in the Details…

By Peggy Aagard, Hair Stylist Extraordinaire at Studio 101 Image Studios SLC.

In a market where hairdressers are a dime a dozen, (and let’s be honest they are pretty good too) why is it that we have stuttered collectively as an industry here in the Salt Lake area, and for the most part, not charging what we are worth?

There are some really simple things that we can do as individuals to create and increase our value as stylists and professionals collectively in our market.

There is a small percentage of stylists that are living the life that we all want. And you know what life that is; working less, full books, more vacations, financial freedom, and perfectly behaved children. The perfectly behaved children part is an entirely different blog, but I can share with you some tips and ideas to help you think about the overall guest experience, and how everything we do impacts our value.

Startling fact alert!
85% of the weight our guest puts on their visit with us is about the overall experience and shockingly only about 15% is about the service we perform. Seriously. I know, I had to take a moment after discovering that myself. So what are they evaluating us on? In a word, EVERYTHING. Want to charge 100.00 for a haircut? Then you must consider every detail of the following list.

Remember, the devils in the details and our guests are seeing it all.

Peggy’s Pay attention to details (and make what you deserve) list

  • Our appearance
  • Attitude
  • Continuing education
  • Greeting upon entrance
  • Conversation topics during service
  • Confidence
  • Smell
  • Cleanliness
  • Clutter
  • Reading materials
  • Beverages offered
  • Music playing
  • Energy and flow of your space
  • Quality of service (15% guys)
  • Did I mention cleanliness?

Our guests are making a lot of these evaluations instantly and often subconsciously within moments of being in our presence . The great news is if you work at Image Studios you are already in control of everything I’ve listed above and can start increasing your value and Working toward that life we all want! If you aren’t already a part of the Image Studios team, there is still great news for you. We still have studios or chairs available at some of our locations!

Seriously. We do, and you should really consider joining the family. We’d love to see you.

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