Beauty Sense


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Page 4 of 15 5 Heartfelt Pricing Transparency By Lisa Cochran, owner of The Studio and Studio R3 I love the beauty business. I have been in it for over 35 years. Every day, we get to encourage, care for, and make our clients look and feel beautiful. But owning and operating a salon comes with its own set of peculiarities. Can you think of any other business that touches you the way we do? OK, maybe your doctor or dentist, but do they know where your new favorite dinner spot is, where you got those killer shoes, what you are binge watching on Netflix, or where you are planning your summer vacation? I didn't think so. We know your hopes, dreams, and secrets. Here is a secret about us that I bet you did not know: one of the hardest things our industry struggles with is pricing. Yes, pricing. The talk of a price increase in a salon can cause a stomachache like a shy kid being dropped off at summer camp. You are our "friends," and we do not want to charge our "friends" more. That is why I wanted to take a minute to be open and transparent about how a price increase can make us feel. Yes, we are a feel-good industry, but we are also a business that takes pride in the way we run our company and takes care of our valuable team members. After all, relationships are built on trust, and our team trusts me to take good care of them so they can take good care of you. We are a company that lives and adheres to a budget, and we work to keep our company healthy and prosperous to secure the best and most talented team. At my salons, we do this by offering competitive hourly wages (and no commission is ever paid on services or product sales), paid vacations, six weeks paid maternity or adoption leave, 401k, bonus pool profit sharing, continuing education, and health insurance. Every salon is set up differently, but we're all working to keep our company and stylists physically, emotionally, and financially healthy. Personally, we are also a company that believes we can change the world. We do this by having global partnerships with Aveda, sponsoring a cosmetology student in Cambodia to learn a new trade and thus doing our part to end the horrors of human trafficking. We give back to our community, schools, and universities and support many local charities, as do most salons and hair professionals. At my salons, our core values are: • Family • Trust • Integrity • Education • Fun Each salon and hair professional lives out their values every day at work. We take stewarding our resources seriously. We hope to continue earning your trust with the services you receive and with every dollar you allow us to earn. Raising prices is never an easy conversation, but please know that it is never a haphazard, willy-nilly decision. Thank you for giving us the opportunity to serve you. ■

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