Question: "Treatment prices vary so much across the UK how do I know how much to charge?"
Gilly Dickons, our Business Development Director, has extensive insight into the aesthetic arena arising from a career spanning 26 years in client servicing, with both TMG and Allergan. Gilly's experience from multiple roles, including client facing, marketing, and clinic management, together with AR's management of over 140,000 calls a year on behalf of clients across the UK, offers a unique and valuable insight into the constantly evolving aesthetics sector and the challenges you as business owners face in this increasingly competitive marketplace. In her Ask the Expert Q&A Blog Gilly offers sound advice and tips to help you to grow your aesthetic practice...
At the recent ACE event I was asked the following question from a new practitioner: "Treatment prices vary so much across the UK how do I know how much to charge?"
My response to this question would be that it is important you don't get too caught up in concerning yourself with fees charged across the UK, especially between the North and South. You need to know what prices are being charged in your area, for example up to a 30-minute drive time radius of your practice. I would encourage you set aside an hour or two to do some 'local' research. Once you have this information you should have a great price range guide and will then be able to assess the average across the practices you have looked at.
You then need to decide where you want to be, at the lower end, stick with the average, or go with the higher fees in your area.
- Cheaper prices may mean higher numbers of clients but may offer a low return on your valuable time. Remember it is very difficult go up once you have set low prices!
- Higher prices will in all probability lead to fewer clients, however you will achieve a better return per hour that you would offering cheaper treatments. You will also have room to lower prices at a later date if you find this strategy doesn't work well for you.
- You could decide to offer your treatments in-line with the average you have identified, probably the safest strategy. This allows you to have room for manoeuvre with special offers at quieter times whilst you are offering a sensible price on a day to day basis.