Do You Have These Three Price Tiers Present In Your Beauty Business?
As a beauty business owner, it’s important to offer your clients a wide variety of products and services to ensure that you meet their needs and preferences. By offering low, medium, and high-ticket products and services, you can cater to a wider range of clients while also increasing your potential revenue.
In this blog, we will explore why it’s essential for all beauty business owners to offer products and services at various price points.
Low Ticket Products/Services
Low-ticket products and services are those that are relatively inexpensive and accessible to most clients. These products/services typically range from $5-50, and they are usually quick and easy services to perform. Examples of low-ticket services in the beauty industry include eyebrow shaping, lip waxing, and basic facials.
One of the primary benefits of offering low-ticket services is that they can attract new clients who may be hesitant to spend a lot of money on beauty treatments. These clients may be looking for quick and easy services to enhance their appearance without breaking the bank. By offering these low-ticket services, you can introduce new clients to your business and build a relationship with them over time.
In addition to attracting new clients, low-ticket services can serve as an add-on to higher-priced products and services. For example, a beauty owner could offer a basic facial as a pre-treatment for a more advanced facial that can then be offered at a higher price point.
By bundling services in this way, you can increase your revenue while also providing additional value to your clients.
Medium Ticket Products/Services
Medium-ticket services are those that are more advanced and specialized than low-ticket services, therefore, costing a bit more. These services typically range from $50-150, and they require more time and expertise to perform. Examples of medium-ticket services in the beauty industry might include chemical peels, microdermabrasion, and lash extensions.
One of the main benefits of offering medium-ticket services is that they can increase your revenue potential significantly. These services require more training and expertise to perform, which means that you can charge more for them. Additionally, clients who are willing to spend more money on beauty treatments are often more committed to maintaining their appearance over the long term. By offering medium-ticket services, you can attract clients who are more interested in investing in their beauty on a routine basis.
Another benefit of offering medium-ticket services is that they can help you stand out from your competitors. If you offer specialized services that are not widely available in your area, you can position your business as a leader in the beauty industry, especially locally in your area. That can help you attract clients who are specifically looking for the types of services that you offer.
High Ticket Products/Services
High-ticket services are those that are the most advanced and luxurious services that you offer. These services typically range from $150-500 or more, and they require a significant investment of your time and expertise to perform. Examples of high-ticket services in the beauty industry include body contouring, advanced laser treatments, and non-surgical facelifts.
The primary benefit of offering high-ticket services is that they can significantly increase your potential revenue. These services require a high level of skill and expertise to perform, which means you can charge a premium price for them. Additionally, clients that are willing to spend a lot of money on beauty treatments are often looking for the most advanced and effective services available. By offering these high-ticket services, you can attract clients who are specifically looking for the best, most advanced, and most effective treatments.
Another benefit of offering high-ticket services is that they help you position your business as an expert and a luxury brand. If you offer these high-end services that are not widely available in your area, you can create a unique and exclusive experience for your clients . . . one that they can’t get anywhere else. This can help you attract the most serious clients who are specifically looking for that luxury beauty experience.
By offering priced products and services at every level, you’re allowing people to come in a try your services, build those relationships with them, and slowly move them into more expensive products and services.
You’re also establishing yourself as the “go-to” place locally by offering higher-end products and services that paint you as the expert locally and bring in luxury customers.