One of the toughest decisions when operating a business is to place a value on a service when creating the menu. Thorough research is a necessity to garner competitive pricing from both the market, location, and surrounding competitive businesses. Although some values are truly hard to place a monetary mark, finding the equivalent price for a service without overcharging customers and undervaluing talent is quintessential for the survival of a business.
In the incubation stages of drafting a business plan, the target group is established. Questions need to be asked: Who is the target group? What is the income level of the target group? Why would the target group want to patron the establishment? What services would the target group want to receive? When these questions are answered then the finite details of price and value can be determined.
Subscribe to continue reading this article, plus gain access to all DERMASCOPE has to offer.
Amra Lear has been licensed as a massage therapist since 1997 and a licensed aesthetician since 2005. She has worked in two luxury resort spas on the Las Vegas Strip since 1999. Lear is a nationally certified board therapeutic massage and bodywork continuing education provider, where she trains other professionals in various massage modalities and develops spa treatments in both massage and aesthetics.