There’s a hot trend gaining traction in salons across North America. More salons are making a shift to time-based pricing for salon services. Owners who have adopted this evolving “time-is-money” pricing model say it offers next-level transparency, better pricing consistency, and simplified business management. It’s a model that clients love and salon owners and stylists have come to appreciate.
WHAT IS TIME-BASED PRICING?
In the simplest terms, time-based pricing is an hourly rate for services that considers all costs within the price. The client is charged by the hour for a rate that goes up or down based on the skill level of the stylist, but there is a core amount that is set to cover all costs and a targeted profit margin built in. Salons that rave about the model state its core benefit is that it ensures a constant margin across every service rendered, regardless of stylist, service, and product dispensed.
In a recent white paper by Vish, the color management company outlined the three pricing strategies, how to set your hourly pricing, and managing change when converting to the model. Learn more by downloading the white paper below.
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