Success Story #4

Tracey used to have a high street salon working 5 long days a week, she always took enough to have a good life, and was the breadwinner, but she never ever made MORE.

She had been in business for 20+ years but she still based her prices on the other businesses in her area. "Suddenly someone saying “you’re not ‘her down the road’ “ rang true. How could I charge the same as someone with different bills? It all made sense so I signed up immediately".

She wanted to have "correct" pricing and not just what others were charging. Through doing the calculator, it made her write down EVERY expense, even the ones she had forgotten about that go out once a year. It made her calculate, to the penny, the cost of every service, even with all the ancillary items she use, such as plastic capes, caps, cotton wool, etc

After going through the calculator, she learnt that some of her services were even making a loss, which she didn't realise.

Tracey implemented a price increase in line with the calculator and she was surprised that her staff were really pleased with it. Charging more made her staff feel more professional and better about their work too. Plus, clients were willing to pay the new prices.

Tracey is in a low income area, so she used to feel that people couldn’t afford her. Now she adds value to every service and makes them feel like they have a special relationship with her.

Tracey has learnt how important it is to get your pricing correct for YOU, not based off your surrounding salons. And to do pricing increases every time your business expenses increase. Previously Tracey hadn't done a price increase for around four years. But, now has done three price increases in the last two to three years. Plus "I don’t apologise for them like I used to".

Since doing the calculator, Tracey has paid off her mortgage, sold her salon, converted her garage to be able to work from home, and "I only work 3.5 days a week and have got to the point in my career when I can decide if I want to take a new client or not".