Get over it salon and spa clients are ready to buy - but buy right

Who says there is no inflation so we can’t raise prices? Price Hikes are happening. As reported in Money Magazine Updated in 2016 Inflation is at 4% and some products are even higher: Fuel oil +22% Gasoline +11% Coffee +16% Milk +13% How are people responding? 39% cutting back on spending 28% adding more to retirement/savings 17% paid down/off credit cards 20% gave more to charity 16% gave less to charity 14% refinanced the house 14% changed health insurance So as salon and spa owners we need to raise prices (or quit serving coffee) at least 4%. Plus we need to have a small increase each year so clients don’t get sticker shock when we have to raise prices 20% because we have held the prices down for 8 years! We also need to appeal to the frugality of people by offering unbundled services and price levels. Packages, series, and memberships also help people justify spending while feeling like they are cutting back. Don’t rule out the new trend of Frugality Fatigue with the more well off. They have been good for EIGHT years saving, refinancing, cutting back and NOW many of them are ready to spend – just in a reasonable way. Fred Dengler MIKAL See more at www.mikal.com contact me at fredd@mikal.com

Experts join us at Camp MIKAL

INDUSTRY EXPERTS Max Out Your Systesm! - Demandforce’s Michelle will discuss the Hot Social media topics and how you can take advantage of the latest strategies - X-Charge’s David McKindrick will review all the latest compliance issues and the trends in credit card processing - What’s next with technology? BlueStar and HP will present the latest and greatest in tablets, printers, and POS systems to plan your tech strategies - Industry Trends from Paula at Kline will show you where the industry is and where it is headed with service trends, average tickets, retail and product lines and more - What’s Next? Join Fred Dengler for a vision of the industry over the next 36 months get ready!