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How to price your services as a freelancer
Deciding on your costs can be one of those super difficult decisions that you’d rather not deal with. However, it is an important step, so make sure you do your research. Here are some tips to help make the process that little bit less painful.
A fair price
On the one hand you want to price your services fairly for your clientele, and on the other – you have bills to pay! The best thing to do when it comes to pricing is to remove emotion and instead look at the facts. Pick several local hair or beauty pros that you know and do some research on what they’re charging and what exactly each service entails. Find out which manufacturers they work with and look up what those brands offer.
Next, consider how long each service that your competitor offers takes and then analyse that against their cost. Be aware that their location will greatly affect what they’re charging, and also, if they are known for celebrity clientele the prices will be much higher.
Another thing to consider when it comes to pricing is COVID. PPE is a must for you and your clients and you’ll also need to be realistic on how many people you can cater to in one day, as you will need to clean your kit/surfaces etc regularly. If you have to cut down on the amount of people you see, then consider what you’re offering. If a client is booked in for a cut and/or colour, you could also book them in for a hydrating Olaplex treatment too – this means you can maximise the time you spend with each client without worrying about the bottom line.
Top Tip: List out what services you wish to offer and what products you will need to offer that service and then cost these accordingly. Ensure you consider how long a service will take you, factoring in travel time if mobile and clean down if a home salon.
What brands to use?
One of the most important decisions you can make which will affect your pricing the most is which brand to use. Some factors to consider that will help you make that decision include:
· What’s my budget?
· What are my competitors using? Do I want to follow along or offer something different?
· What’s the price per usage? Speak with our knowledgeable Capital store staff or each manufacturer to find out how many uses you can get from each product.
· How quickly will I make back these costs?
· How often will I need to re-order?
· Do I want to cater for vegan clients?
· Do I want to be associated with cool, cult-like brands?
· Is this brand well-liked amongst my pro peers?
Don’t forget to speak with our store staff. Not only have they had training on each of the brands we sell, many also work as hair and beauty pros, so have the product knowledge to advise on product and price per usage.
Also, if you know other hair and beauty pros in your area, don’t be scared to reach out to them and ask for advice when it comes to pricing – everyone has to start somewhere!
For further reading check out our blog on how to manage your finances.
By the way, if you buy your stock through Capital we offer Click & Collect and next day delivery! Visit capitalhairandbeauty.ie to find out more.
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Freelance Focus
Freelance Focus, is a one stop resource for anyone working as a freelancer or thinking of going freelance in the hair & beauty industry, which includes a FREE downloadable guide filled with advice, useful insights, experiences and tips (from experienced freelancers) to help you understand the steps needed to make the right choices for you.
