Mates Rates For Your Hair Extension Business

Mates rates_miniWhen setting up your hair extension business, one thing you will want to think about at the same time as establishing your customer prices, is the prices you will set for your family and friends.

Now this topic may come as a surprise to some of you setting up your businesses who may have the mind-set that as they are your friends and family you won’t charge them, or you will do it for the absolute rock bottom price. However, there are a number of reasons why this is not always a good idea which we shall discuss here, alongside advice on how you should think about setting your pricing.

Why Set Mates Rates For Your Hair Extension Business?

The reason why it is healthy for your business and your relationships to establish a “mates rates” package is to ensure that the work you do is valued and not taken for granted.  Although you may want to do your friends and family favours you must consider that when running your business, the time you allocate for your friends and family’s hair is time in which you could have had a full paying customer, therefore this must make financial sense for you and your business.

Preventing Your Hair Extension Skills Being Taken For Granted

Unfortunately, in business there will always come a time in which you feel as though you have been taken for granted, and this can be especially true of friends and family.  By being firm with a price guide that is fair for you and them, neither party will feel put out, and both will be happy.  This is not only true for your prices, but also for the times in which you work.

Hair Extension Working Hours

t25-lilla_1You will need to consider your working hours when it comes to friends and family.  Are you happy to squeeze them in during times that are not busy for you, such as weekends, or would you prefer to only fit them in at a time that suits you, keeping your leisure time free?  This is your business after all, and therefore it is up to you to make these decisions and ensure you keep a good work life balance.  If you are not firm with your working hours, you might find it hard to say no to that friend that wants her hair done but can only do 7pm on a Friday, and is also barely paying you for it.

money-gbp-in-handWhat Price Should I Charge My Friends Or Family For A Hair Extension Fitting?

The price for which you decide to charge friends and family will depend on a number of factors and will ultimately be a personal choice, although we would recommend that the price you choose remains the same for everyone.  This prevents a situation in which one friend has paid more than another, which can cause friction.  By offering a 25% discount to all friends and family for example, this will ensure that everybody gets a fair deal, including you and your business.

When Should I Fit Family Appointment Into My Hair Extension Business?

The hours you choose to work will also depend on you and your lifestyle, and will be a personal decision.  You may have no problem at all working late on a Friday night, and therefore fitting your friends and family in during the weekends and evenings could suit you and your lifestyle.  On the other hand you may have a family to look after, or another job, and therefore you will have strict set times to work within.  We would advise telling your friends and family the hours they can expect to be able to book an appointment this you, which will stop them from asking you for times that are not convenient.  You could perhaps try saying that for friends and family you will do the first and last weekend of every month, so that they know when to ask you.

It Is Ok To Say No

Try to get into the habit from the outset with your friends and family of saying no if the time or price does not work for you.  If you give in to too many demands at the start, you may find yourself in an uncomfortable situation further down the line.  You must remember that saying no is not a bad thing, and that if you have been asked to do something for a price that you don’t feel is fair or a time that does not work for you, it is ok to decline, and your true friends and family will understand this.

Ensuring Your  Hair Extension Business’ Success

Setting mates rates and being firm with the ones you love is not always an easy task, but to ensure your business is a success it is key that you do set these boundaries to protect yourself, your friendships, and your business in the long run.

SimplyHair Trade Account

As you a new mobile hair extension business?  Are you thinking of introducing hair extension services into your salon?  At SimplyHair not only do we offer very competitive pricing, we also offer an exclusive trade discount to our professional customers.

A trade account is quick and easy to set up, simply click on the image below to submit your application and we will aim to have your account activated within 1 working day.