As a salon owner, it's your duty to make sure your clients know they're getting value for their money. Unfortunately, setting realistic nail prices can be challenging given different services require different levels of skill and time commitment to complete successfully. Below are three simple strategies you can use to set reasonable nail prices that increase profitability in turn.
Basic manicure costs typically run about $20 at most nail salons and usually include cuticle care, buffing, reshaping and nail polish application. Upgrades and add-ons such as gel manicures will increase this price; for instance using UV-cured polish that resists chipping increases its price by $30 more; nail art, decorative gems or chrome nails incur additional fees too. Furthermore, don't forget tipping: it typically amounts to around 20% of service charges!
Pedicures typically cost $35-$45 at most salons. Price depends on location; urban centers and more affluent neighborhoods tend to charge higher fees than smaller, economically diverse neighborhoods.
Certain states have regulations on how much a nail salon may charge for its services, though most are voluntary. Salons typically can charge up to 100% of their actual costs with more complex or labor intensive services incurring higher markup percentages.
Your client's choice of nail color or design will be the main determinant in how you price your services. Basic polishes cost roughly $10 each while high-end ones like Swarovski crystals may run up to $25 per nail. In general, nail design add-ons tend to cost more due to prepping costs and taking longer for application on natural or artificial nails.
Understanding your actual costs is important, but also taking note of what competitors are charging can have a big impact on how your own nail salon prices compare. If they offer luxury items at lower rates than you, that may attract customers away from you business.
When setting nail prices, it is best to start with your actual costs before applying an average markup percentage. For instance, an hourly nail technician rate may be $35 while competitive rates might be closer to $20. When starting out, a good goal should be using markup percentages between 75-100% for basic services and higher percentages on advanced treatments and products.
Setting and maintaining realistic nail prices are critical to the sustainability of any salon. Underpricing will lead to customers departing, while overpricing will reduce efficiency and cut into your profit margins. Value-based pricing strategies, promotions and periodic adjustments should help optimize long-term pricing strategies; to achieve optimal results make sure you're offering services with high customer demand at your salon.
