Not to scare you so don't stress but here's why ⬇️ 1. Business expenses go up & you make less money. 2. Personal expenses go up and you have less money to buy things that cost more. As an Independent, if everything has gone up 3%, you actually have to raise your prices 6% just to have a comparable lifestyle to what you had before the rising costs. As a Salon Owner your prices have to go up considerably to offset your increased expenses and the costs of paying your team more. For Commission Stylists 1. Personal expenses go up and you have less money to buy things that cost more. You will need a 3% raise but your prices actually have to go up more because a portion of the increase will go to the salon. It's important to understand how changes in expenses impact the industry differently and have a plan for how to address it. My new Modern Menu & Hybrid Pricing course for Independents includes a full business audit that be done every year (or more) to better prepare you for the real costs and increases in operating your business. Link in bio ⬆️