130 Pricing Your Services with Mick and Kylie Dwyer

What this episode covers

I am frequently asked questions about salon pricing and so I recently did a podcast episode where I spoke on the pricing of salon services (it was episode 127 if you haven’t already checked it out).   Today's episode is also about pricing, and I have not one but two guests on the show. They are husband and wife, Mick and Kylie Dwyer, who are former salon owners and educators. They have written a book, and developed an app and an online course all on the topic of pricing!     So in this episode, we are going to go much deeper into the pricing issue   In today’s episode we discuss: How to price your salon services The challenges that hairdressers have when it comes to raising prices Profit margins in salons today…   And lots more!       In this Episode:   [02:00] An overview of the careers of today’s husband and wife team, Kylie and Mick Dwyer. [04:07] Mick explains what inspired him to write his book, Pricing Your Services, what the writing process looked like, and what you can expect to learn from reading it.  [10:44] The app and online course that Kylie and Mick developed which focuses on helping people price their services.  [16:53] What Mick sees as the biggest mistake that people make when deciding on their prices (and some other, secondary mistakes).   [21:15] Why the size and shape of your business is irrelevant when it comes to pricing your services. [24:51] The average profit margin of the majority of salons. [26:51] Salon characteristics that Mick has recognized as being responsible for an above average profit margin.  [29:51] Why Mick thinks it’s a good idea to treat the retail side of your salon business as a separate entity.  [31:06] Mick explains the concept that he refers to as ‘seat time.’ [35:36] Pricing by gender; Mick’s opinion on this approach.  [38:40] The tiered pricing strategy that Kylie and Mick advocate for.  [43:23] Why Mick recommends that salon owners implement regular, small price increases.   [47:08] Advice for dealing with rising inflation as a salon owner. [54:01] Snipt; Kylie and Mick’s exciting new app which is going to launch in early May!     Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!  They do matter in the rankings of the show and help other people find my podcast.  I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support! Special thanks to Kylie and Mick for sharing their insights with me for this week’s episode. Until next time! Antony   Links and Resources:   Grow My Salon Business  Website | Facebook | Instagram   Elite Hair Education Website | Instagram | Facebook   Pricing Your Services Website