Insert stress and terror after reading the title! It’s never an easy decision to raise service prices. However, we need to take the emotion out this particular part of our business. We are here to earn a living to doing something we enjoy.

Increasing prices for your nail business can be a delicate process, but it’s important for ensuring your business stays profitable and sustainable. Here’s a guide on how to effectively set up and communicate a price increase:

1. Stay Confident and Consistent

• Value Your Work: Confidence in your pricing shows your customers that your services are worth the price. Ensure you’re consistently providing the quality and service they expect at that price point.
• Don’t Over-Adjust: It’s important to find a balance. Regularly re-evaluating your prices based on market conditions is healthy, but frequent and drastic changes can hurt your reputation. I suggest an increase yearly at minimum.

2. Evaluate Your Current Pricing

• Review Your Costs: Before raising prices, ensure that your costs (supplies, rent, labor, etc.) have increased. This will help justify the price hike.
• Identify Your Profit Margins: Understand how your current pricing impacts your business profits and how a price increase can improve your margins.

3. Choose Your Price Increase Strategy

• Percentage Increase: Consider a standard percentage increase (e.g., 5%, 10%). A small increase can prevent clients from feeling shocked.
• Tiered Pricing: Introduce new pricing for premium services or packages and keep base services the same for loyal customers.
• Add-On Pricing: If you offer additional services (e.g., nail art), this could be a good place to increase prices without raising the base price.

4. Update Your Service Menu

• Transparent Communication: List the new prices clearly on your menu and any online platforms (website, booking app, social media).
• Reflect Value: Make sure your clients know the price increase reflects the quality of service they’re receiving. Highlight any new features or improvements that justify the price hike.

5. Prepare Your Clients

• Give Notice: It’s courteous to let clients know ahead of time. This could be 4 weeks before the increase takes effect.
• Personal Communication: Inform regular clients personally (via email, SMS, or during their appointment) to show appreciation for their loyalty.

6. Update Your Marketing and Online Presence

• Social Media Announcements: Make a friendly post on your social media platforms. Do not explain the details of your increase. Clients don’t need a long “excuse” why the price has gone up. Does the grocery store give you reason?
• Website & Booking Systems: Update your pricing on your website, booking platforms, and any online listings. Ensure everything matches your new pricing structure.

When should you increase? I’ve found that raising prices between April-September go the most smoothly. Raising prices right before the holidays can put stress on clients and just put more on your plate during busy season. The first three months of the year might also be a challenge because it’s a new year and everyone’s trying to pivot from the holidays. You do you but think about it first.

By planning thoughtfully and communicating effectively, you can successfully raise your prices without losing clients. Do you already have a set price increase in mind or need help working out the numbers? Find more help here.