As a solo esthetician, your service prices should reflect what you need to make in order to cover paying yourself and business expenses.
You can break it down to every 15 minutes.
Ask yourself:
How much money do you need to make every 15 minutes in order to cover paying yourself, bills, and make a profit as a business?
Break down a service you provide.
Add in the cost of everything, cotton swabs, wax, everything.
Most of us don’t make but $4-$5 for a $25 waxing service that takes us roughly 15 minutes.
Now ask yourself:
Take the last month, and figure out how much you are actually paying yourself.
Take you total income for the month, divide that by the number of hours you worked, and you will have your hourly pay.
When you pick a goal hourly wage, you can break it down by saying “Ok, I need to make $__ every 15 minutes in order to make $__ per hour.”
When trying to decide an appropriate amount to pay yourself hourly, consider the following:
- how much you charge for your services
- how you schedule your services/how many per day
If numbers for either of these are lower than they should be, that will directly effect your personal hourly rate.
In reality we are making $6-$7 on that service because of business expenses.
Business expenses don’t go away for an esthetician, we will always be paying for:
- Rent
- Phone Bills
- Internet Bills
- Supplies to provide our services
THEN we have to pay ourselves.
Charging the right amount for a service will give you peace of mind.
Most of use live every single day worrying about if someone is going to no show, or cancel their appointment we were depending on to make a certain amount of money.
The bigger picture is that we cause that worry for ourselves. By simply not asking for what we need, and instead asking for what we think people want us to ask for.
When you charge the proper amount for your services, we become less dependent on each individual.
If you’re not:
- charging enough for your services
- paying yourself the right amount of money
- scheduling your appointments just right
Then you can forget having a successful business.
What is the good news out of this?
The good news is that things can be changed.
When you pay yourself it’s money you are taking for yourself, and not for the business.
The other thing you can change right now, is how you schedule your clients.
There are 3 major things that are happening in our business.
