Are you a new lash artist looking for help with how much to charge? Or maybe you are an advanced artist who wants to increase your price but you don’t know how to go about it. We are sharing our top 4 tips for how to raise/set your prices as a lash artist!
Before we dive in we need to give you a few fast facts.
Buckle up - these might induce crying, panic, or other similar emotions. We joke - but seriously - when you’re done reading this you’re gonna raise your prices!
Household costs are also the highest they have been in our generation's lifetime.You will have probably noticed that lately! In Alberta alone, energy costs are up 34% compared to the previous year. One reason why they’re skyrocketing? Inflation is currently at 4.4% and rising. YIKES - and this is the highest it has been since 2003.
The short of it - you’re spending almost 5% more off of the bat just to buy the same things you did a year ago. Without a price increase, you are personally paying that 4.4% out of your own profits.
Shipping rates are 4X what they were in 2020. The average cost of a shipping container in 2020 was $2500 and today it is almost $10,000. This is another reason why the cost of goods has gone up.
Ya, ya, ya lady… we get it! The reason we're sharing this with you is to help you understand why you may set your prices higher than you expected.
So, your business running costs are increasing, but you still need to know how to set your prices!
We promised them and here are our tips.
1. Break down how much you want to make hourly
You will need to take into consideration your overhead and product costs. Here is an example!
You charge $50 for a full set that takes 3 hours.
$50/3 hours = $16 per hour (before any expenses)
Remember that your expenses aren't just lashes and glue. Your overhead includes things like the cost of buying a bed, renting a space (or if you work from home, this means a percent of your mortgage/rent!) paying for wifi, online booking, etc.
Pay yourself a living wage, and then add in all your other expenses to get your price.
2. Check out your competition
Your price will vary depending on your location! You will generally charge more in a big city compared to a small town. Use this a general guide - and don’t undercut yourself just because they are. You will not discount yourself to the top. Your clients will pay for YOU.
3. The amount of training you have adds value
Every course you have taken and every certificate you have adds to your value. The lash industry evolves constantly! If you are staying on top of new trends, and taking courses to increase your knowledge and skills, you are more valuable as a lash artist than someone who took one lash course 5 years ago. Hang your certificates with pride and use this to set yourself apart from other artists.
4. Feeling Undervalued
If you are starting to feel resentful, or that you are working too hard and not getting anywhere this is a good indication that you are feeling undervalued for the effort you are putting in. If we worked as an employee somewhere, how likely are we to go and mention a raise when we feel we’re worth more? Do the same with your clients! The clients who value you and appreciate your work will stick with you - and those are the clients you want to keep!
We hope this guide gives you some insight on how to set and/or raise your prices! You deserve it!
If you’re still unsure of what to charge for lash extensions, here is an example of a price point for a lash artist in Edmonton, AB.
* Prices vary based on expertise
Classic: Full Set - $85-$100 CAD Fill: $65-$85
Hybrid: Full Set: $100-$140 Cad Fill: $75-$100
Volume: Full Set $175-$240 Fill: $90-120