66. Prices Based on Fact Not Fear
Let’s face it, charging what you’re worth is sometimes easier said than done. But when you are equipped with the education to assess the financial breakdown of your business, it becomes a whole lot easier to understand your value and have confidence to charge what you’re worth.
Joining us on the Sola Stories Podcast is Nina Tulio, an industry leading salon business consultant, speaker, and educator, having worn many different hats over the last twenty-five years. She started a consulting agency in 2016 to help salon owners and stylists grow their business, create (and stick to) a budget, and set boundaries. Her latest venture has allowed her to combine both her love for helping people and her love for the industry, and she is here to help stylists and salon owners set prices based on fact, not fear.
Listen now to hear Nina as she talks about understanding your value before discovering your worth, how to save smarter and (like putting aside 3-6 months worth of operating expenses in a savings account), how to avoid guilt when raising prices and refusing discounts, and so much more.
In This Episode
[0:33] – Nina Tulio is this episode's guest.
[2:40] – Parallels between Nina's teachings and Sola's teachings.
[3:18] – Nina's journey in the beauty industry and her current consultant agency.
[5:26] – Specifics on what Nina offers to hairdressers through her program.
[7:37] – Nina has a podcast – No Stylist Left Behind!
[8:34] – Charging what your value is and how to determine that.
[11:30] – How someone determines what they're going to charge when they go directly to a studio.
[13:27] – Do your pricing based on facts, not fear.
[15:40] – How to budget properly.
[18:14] – Why some suite owners overspend on supplies.
[20:23] – Jennie discusses BeautyHive.
[22:00] – Percentages involve your prices as well as your spending.
[24:57] – How to know when to raise your prices.
[27:57] – Nina believes that salon owners should share with clients beforehand that a price increase is coming.
[29:50] – Nina also believes that it's a good idea to share with clients why you're increasing your prices.
[31:48] – Why many salon owners give emotional discounts and how to stop doing it.
[34:51] – Giving discounts is essentially the same as giving money away.
[37:57] – Become comfortable with looking into your numbers! (If you don't know your numbers, you don't know your business!)
[39:45] – Trust in yourself and in your skills!
[41:15] – Where listeners can connect with Nina.
Links and Resources
Sola Salon Studios' Instagram Page
No Stylist Left Behind Podcast
Sola Stories - Episode 17: Crisis Creates Opportunity with Michael Cole
Sola Stories - Episode 50: Quick Tip: Understanding Your Sola Business