Recently, I read a statistics that stated estheticians, the indispensable professionals of the beauty industry, earn only 11 to 15 dollars per hour on average. It went on that most professionals drop out within their first 3 years at an alarming rate of 90%. Its so sad that many beauty professionals are struggling to do what they love. As the catalyst behind the beauty industry its time we started collecting the money we deserve, charging our worth, and engaging in more income producing activities. To get you started here are a few income producing activities to set you on your way for stronger Quarter 1 earnings
PRIORITIZE MONEY MAKING ACTIVITIES.
Creative minds such as beauty professionals usually have a million ideas buzzing inside there brains at one time. The problem with this is that it can become difficult deciding which tasks to get to first (they all seem important). To help improve your earning potential first, put your attention on those activities that will produce income for you most immediately. Next, spend time on the activities that garner monetary rewards in the not so distant future. With this approach you are not cutting yourself off from pursuing your other career and personal goals but you are positioning yourself to possibly create a cushion or cash reserve to finance other ventures or projects.
Make Money Making Activities Better
Consider your top revenue generating services ….Now answer this question: Are there any ways you can make them better? There is no sense in reinventing the wheel, if something is working for your biz find ways to make it better then capitalize on it. The changes could be as simple as opening earlier or closing later, buying a few extra retail items to sell in your boutique, playing up online offerings, or new inexpensive facial enhancements.
B*&$H Better Have My Money
I need you all to be like Rihanna on this one! To often I am meeting beauty professionals that are compromising on there #girlboss judgement to accommodate clients. You can’t do business like this in 2016 so stop it now! For all large and long term assignments make sure you spell out the details, have a signed contract, and a deposit up front. All logistics and project details should be spelled out in the fine print of your contract and signed by both parties. Remember to bill on time and collect your money.
Do you provide in person consultations? Remember consultations are a service and an appropriate fee should be assessed for your professional expertise. For in person consultations develop an experience that works for your business but that will also encourage new business opportunities. Consultations allow you to highlight in a personalized way what you can do for a client. from in depth skin consults, to meeting with a maid of honor to arrange a bridal party soiree in your spa boutique. Decide on your fee and if perhaps you are still feeling anxious about charging a consultation fee allow potential clients the chance to apply the fee toward a future service.
Many beauty pros are chronically undercharging for there services and site competition and clients inability to pay as there reasons. Lets face it though business demands are changing, cost of living is increasing and it might be time for a raise. To accommodate the myriad of growing business demands placed on beauty professionals it may be necessary to raise your prices. While considering your competition and average going rate of services is part of the equation your profit is also a part of it to. Remember there are additional fees attached to a posh environment with super chic amenities and a tailored guest experience. Don’t sell yourself short here, price your services accordingly!
I hope these tools help…..HERE’s to a super great Quarter 1!