Pricelist Processor - Personal Information

So in this next section, we are going to work out your new rate per hour. Now, it's really important that you enter the correct figures at the stage so that it's going to give you a good reflection of your hourly rate. Now we're going to start off, we're going to fill this in together and we're going to start off here at the top with your average services per week. Now, if you are a salon owner and you're doing this on behalf of a team, then you also just need to take into consideration this little section here which tells you what to do differently if you're filling it in in that way. However, we're just going to fill it in as normal. So you are going to come to this first one here, which is your average services per week. Now you can play about with this because it will give you a different outcome in the end figures, I will show you that in a minute. But if we come back to the current income calculator, if you remember, we actually entered 18, that we are seeing 18 clients right now. So I'm just going to put the same as that first. Now you can do the same if you wish. And then on your, that means that you are doing an average of 72 services per month. Now you next want to look at your current booked hours with clients per week and you can take this from your current income calculator as well. So booked hours with clients per week is 27. So we can pop that in here. And then we also want to take our average time spent per client, which it worked it out as 1.5, so we want to add that in as well. Then we come down to this section and this is the part that you will have completed in your workbook when you've done the dream work and week task. And we also touched on it in one of the previous lessons as well when we spoke about building out your dream work and week and making sure that your hours work for you and not just for your clients. So based on that, you want to pop in this box here how many hours you would like to be available with your clients per week. So not including admin, just with your clients. So we're going to put in here 30. We would like to actually spend 30 hours with clients rather than 27. And we're also willing to do, let's say no more than 10 hours of admin per week as well. So we pop that in there and that tells us that the total average that we are going to be working is 160 hours. So if we come down here, you also want to add in any additional income. So say if you've got a full time job as well, or another job, then you can pop that in this box here, just whatever you make from that one. Or if you own a salon, you can follow the instructions to add any income from your renters here as well. If you don't, then you can leave that blank and then you're going to move down and you're going to enter your week's holiday per year. We've been working off six weeks, so we're just going to enter six in this box. And now you can see in this dark green box here, it's calculated what our average hourly rate needs to be. And that's in order for us to create the desired income that we left over on this side here. So it's telling us that we need to be earning on average 36 pounds and 38 pence per hour. And if you just move up to this box over here, this gives us our number of hours monthly, which we already know that. And it also tells us our average treatment time. So based on the fact that we are with our clients for 1.5 hours and we have said that we want to dedicate 30 hours of our time to our clients, it's telling us that we've got the capacity for 80 clients, okay? And that is per month, which over here we've got 72 as our current reality. So it's telling us that we've got the capacity for eight more clients and we're currently 90% booked. You always want to aim for above 75% booked because if you are below that, what this is going to do is work out your prices based on how many clients you currently have. So in order to make it fair for your clients and so that they're not carrying the load, you want to make sure that you're at least 75% booked so that your pricing is fair for your clients. And if not, then you can play about with these numbers to see that make a difference here. Now, this box here is purely just for your acknowledgement. We don't really need to do much with this. The white box is here because minimum wage changes, as we know, this is as of January 2025. But if that has changed by now, you can go ahead and make an amendment to that. And that basis the basically tells you based on minimum wage, based on the number of hours that you are going to be dedicating to your business every month, this is what you should be making as a bare minimum in order to cover minimum wage. So if you're in and less than that, then huge alarm bells should be going off in your head right now. This is not to say that we want to aim to earn minimum wage, because you know as well as I know that you've got business costs and things like that. The likelihood of you needing to earn much higher than minimum wage is very likely. But this just gives you something to compare it to based on UK average. Obviously you can also amend this dependent on what country you are in, what, the living wages or. Yeah, anything else. So that's what that section gives you there. You can have a little play about with it, but hopefully you are now clearer on what your minimum rate should be for per hour for when you are doing nails.