Raise Your Rates

I’ve been having my hair cut by the same woman for three years or so. She’s been in business for over 30 years. She owns her own salon and rents seats to other stylists. I asked her how much more she charges than her other hairdressers, since she’s the most experienced and the owner. She said she hadn’t raised her rates in years. Her answer stunned me. Kids just out of school in the shopping mall are charging more than she is.  

I recommended she raise her rates. 

I’ve been going to the same aesthetician who has been performing lots of magic on my face for 10 years or so. It was time to purchase another package of sessions. When she told me the price, I reminded her that this was the same price as the last three packages. 

I recommended she raise her rates. 

I had a conversation about materials and labor with a small builder/contractor. Same story. He says he fights for every dollar of margin. He claimed there’s a limit to what people will pay. 

I still recommended he raise his rates.