Monday Mar 31, 2025

Ep. 7 | Raising Standards and Avoiding The Price War

📞 License Our Barbershop Growth Marketing System And Let Us Install It In Your Business: https://franchisebarber.com/

Summary

In this conversation, Kaleb and Owen delve into the complexities of pricing in the barber industry, emphasizing the importance of raising service standards before increasing prices. They discuss the critical role of customer experience, the pitfalls of competing solely on price, and the necessity of setting clear expectations for clients. The duo also highlights the distinction between skill and experience in determining pricing, advocating for strategic upselling to maximize revenue. Overall, the discussion provides valuable insights for barbershop owners and barbers looking to enhance their business practices and profitability. In this conversation, Owen Granger and Kaleb discuss the intricacies of pricing strategies for barbers, emphasizing the importance of long-term thinking and client retention. They explore effective upselling techniques, the significance of enhancing client experience, and the strategic approach to price increases to ensure business growth and sustainability.

Takeaways

You have to raise your standard before you can raise your prices.
Pricing is not just equated to your skill level; it's about customer experience.
Competing on price can lead to a downward spiral in business.
Setting clear expectations for clients is crucial for retention.
Experience plays a significant role in pricing strategy.
Upselling can significantly increase revenue without raising base prices.
Minor adjustments in pricing can lead to substantial financial gains.
Customer service is as important as the haircut itself.
Barbers should focus on the overall experience they provide.
Understanding market standards is key to setting competitive prices. 12 grand a year makes a big difference.
It's about over the long period of time.
Successful barbers often piece out their services.
Many barbers are losing out on opportunity cost.
Get the client to say yes to upselling.
Using high-quality products can facilitate sales.
Always maintain a selling mindset in the chair.
Raising prices should be strategic and gradual.
Enhancing client experience can justify price increases.
There's no perfect pricing; it's all about strategy.