GETTING YOUR PRICES RIGHT... Often I get asked by bridal MUA/Hs are about pricing. How do you know if you have set your prices correctly? How do you know if the pricing level is working for or against you? Here are some tips on how to assess this & whether you need to change something: 1. If you are thinking that your prices should be similar to everyone else’s in your area... Stop. Never base your prices on anyone else’s, apart from when you start out. Allow demand to dictate what they should be & when to raise them. Don’t limit your possibilities by adjusting prices to match those of others. Focus on what you are doing & not others. If there is demand & you’re having to turn lots of enquiries down, this is a sign that it’s time to raise your prices. 2. If you are wondering whether you are priced too high... One of the key indicators that your price may be too high is if you don’t manage to secure bookings for at least 80% of peak dates in the wedding season (excluding your chosen time off for holidays). If your prices match the quality of your work, brand & the services that you offer, then you should be able to fill 95-100% of peak dates (this is not valid for new MUA/Hs, as it may take 2-3 years to build up consistent demand, if you are working on your business full-time). If your diary is half-empty & you are wondering if overly high prices may be at fault, consider analysing your business. Ask trusted friends & family to be honest with you & help you spot areas where you could improve. Evaluate your business from a bride’s point of view and be very honest with yourself - if you were a bride, would you be impressed enough by your brand, your galleries & social media visuals, as well as testimonials, to pay your current prices. 3. How do you know if you are priced too low... Usually, the first sign is that you get way more booking enquiries than you can cope with. Sometimes it could be that you may be low in confidence & under-price yourself - for brides it may seem too good to be true. Hope this helps! Let me know in the comments if this was useful. For many more tips on every aspect of business for bridal MUAs & hairstylists, join our Online Academy.