The Real Costs of Undercharging! (It's Not Just Money.)
Ever notice how exhausted you are at the end of the week, yet your bank account doesn't reflect all that hard work?
Let's talk about something that's costing you way more than just money. When you're undercharging for your services, you're actually paying a much bigger price than you realize.
Here's what's really happening when your prices are too low:
You think you're being kind, but you end up stuck in the "more clients" trap. Working longer hours, squeezing in extra appointments, maybe even skipping lunch – all to make up for those lower prices. But more clients doesn't always mean more profit... sometimes it just means more exhaustion.
Your schedule is full of "price shoppers". You know the ones – they're comparing prices all over town, jumping from stylist to stylist for the best deal. I call them 'shop hoppers'. They're not loyal to you or your artistry – they're loyal to whoever has the lowest price this month.
Your body is telling you something's wrong. That neck pain? Those aching feet? The emotional drain of feeling undervalued? Feeling resentful that you have to do so much and make so little. That's not just part of the job – it's a sign you're pushing too hard for too little return.
The biggest hidden cost? You're missing out on your ideal clients. Those amazing clients who value quality, who respect your time, who rave about your work to their friends – they might be passing you by because your prices make them question your confidence.
That was one of the most surprising things to one of my students, Sheniqua, who struggled to raise her prices for more than a decade! A coworker of her client, loved her hair, but once she found out how much (or should I say, how little) Sheniqua charged, she wouldn't go to her. She expected to have a bad experience because she didn't charge enough. Is that shocking to you too?
And here's the kicker – when you're barely covering your basic expenses, how can you invest in those advanced classes you've been eyeing? Or upgrade your tools and products?
Or you may be making good money, but you know, if something unexpected comes up - a car repair, a school trip, your blow dryer suddenly dies or you get sick and have to miss several days - it's going to be a struggle. You may or may not realized it, but your growth gets stuck because you're trapped in the cycle of undercharging.
Ready to break free?
If you're nodding your head right now, feeling like I'm reading your mind, and ready to charge your worth, click here to get my FREE quick start guide on '5 Ways to Increase Your Salon Suite Income, WITHOUT Working Harder!' get you some info about how to raise your prices confidently (without losing the clients you love!) 💪
