Pricelist Processor - Pricelist

So now based on everything that we've already done, we're going to be able to create our service price list. So this is going to give us our hourly rate and also what we need to charge in order to meet that hourly rate as well. So when you come over to this tab you will notice you've got two tabs along the bottom. You've got your treatment and your price list per hour and you've got your treatments and your price list per minute. Now you can choose which one you use. You might want to just use your hourly one or, or you might find that you want to use your minutes one because you've got a lot of add ons or something like that that don't quite make up to an hour. But either way either one is fine to use. You can adapt them and use them in your own way. So I'm just going to start by filling this in and you can do it along with me and it will make more sense as we move through. This is an example at the top. I'm going to add in my own gel polish treatment. Okay, so, so we want to write in the treatment that we are pricing up first of all and then we just want to enter in this box here the product cost. So in order to find what the overall product cost for this specific treatment is, we need to go back to our consumables tab. Now for our tools tab. If you remember, all of the essential tools that we use on all of our treatments have already been entered and when we click on consumables they've already been added up in this box. Now obviously I haven't added all of my tools and all of my consumables into these boxes. So yours will look a lot different to mine because yours should be filled in a lot more and have a lot more products and things that you are using regularly. But whatever your total tools where will be in this box here and will have pulled through for you. So now we just need to understand what our product specific costs are in order to complete this box here. So we want to know what our product cost is for our gel polish treatment. So we want to come down and we've already calculated or used in every service that's in this box here. So we know it doesn't matter what treatment we're doing, it's costing us at least £1.13 in every service products. So that's already been calculated for us. And now we need to know what specific items are used in what treatments that we need to add on. So you'll notice on this box here, you've got some tick boxes, and these are purely just for you to play about with when you are calculating each of your services. So, first of all, we're focusing on a gel polish treatment. So you just want to go down this list and take any products that you use for that specific treatment. So right now I'm going to click base coat, top coat, and gel color, because that's what we use as part of a gel polish treatment, as well as the used in every service, which you've already calculated. So now that we've ticked these boxes, we need to enter the total amount of these things into this box here. So in order to do that, we need to do a sum. But don't panic because the sum is already written for you here, and we're going to go through it together now, and I'll show you how easy it is. So, so you click on the white box and you want to click equals sum, sum, and then a bracket. Okay? And then you simply want to click on the cost of everything that you've put a tick next to. So you want to click on this one, and then you want to put a comma, this one, and a comma, and this one. And then you just close your brackets and press enter. Now, make sure you're not clicking on the tick boxes. Make sure you're clicking on the actual price of these things. And then once you click enter, it's going to give you the total of everything we've just clicked on, which is 1 pound and 11 pence. Okay, which brings our total product cost to 2 pound 36. Because it's added together these costs along with our specific product costs, which makes 2 pound 36. So we can go back over to this tab, and in the product cost, we can write £2.36. Now, next, we want to pop in this box how much, how long it actually takes us to do this treatment. So in here, I'm going to pop one for one hour. So it tells us that the minimum price that we need to charge is 38 pounds 74 pence for this specific treatment. Okay, so let's move on to the next one. We're going to do gel polish with builder, or let's just say build a gel to make it nice and easy. Okay, so builder, gel, and then we want to calculate our costs. So we want to come back to consumables. We want to untick each of these and delete everything out of that box. And for Our builder gel, I haven't entered it in, so I'm going to do it quickly now. So I'm going to pop £20 in this box. Again it's another £15ml bottle. We use two coats. So I'm going to pop two in there. And again I'd say we, we replenish it about every three weeks, which is 54 in here, 54 uses. Okay, so now we know it is 74. And for builder gel we're going to be using builder gel and we're going to be using top coat along with our products that we use in every service. So with that in mind, again we want to add the sum together. So we want to click on this box and we want to follow these instructions. So we're going to type in equals sum, open the bracket and then you're going to click on the value or the cost of everything that we use for this treatment. Close bracket, press enter. So one pounds and two pence for our builder gel treatment which then brings the total product cost for builder gel to £2 and 27 pence. So I'm going to come back down to here, I'm going to pop £2 and 27 pence in here. That my length of service is around an hour and a half, which will be 1.5. So it takes me about an hour and a half to do build a gel. Which means that for my builder gel services I want to be charging about 56 pounds and 85 pence. Okay, so now let's use our per minute one and we would maybe use our per minute one for any add ons. So for example, nail art. So let me type in here nail art tier one. Okay. And maybe nail art tier one is just some hand painted like a star or something on one nail or two nails. So with that in mind we want to come back to our consumables and maybe we would have added art gel. So I'm just going to add this in right now. Let's say it is 5 mil and let's say we use it maybe if we did it on one nail, so we'd be doing it on two, let's say. And then we want to say that maybe with this one it's a smaller bottle. So say it lasts for maybe eight weeks. So with that in mind, 144, 28 pence for our art gel. Okay, so we want to untuck this and we want to take the R gel. So remember we are wanting to write in the product cost for our Art gel. But we are doing this just as an add on. So we don't need to consider any product costs or anything like that. We just want to come back to consumables and we just want to consider this here. So we want to do equals sum, open brackets, click on the R shell. Like I said, we're only focusing on our shell as an add on. So that's the only product that we use. So we just close brackets, press enter, and that's the amount. Okay, 28 pence. So then we can come back to here and we can say it cost us 28 pence. Now, the length of this service is 15 minutes, okay? And so with that in mind, based on our hourly rate, it tells us that for 15 minutes of nail art, we need to be charging £9.38. So can you see how this is all adding together for you based on your hourly wage and based on the products and the costs of those products as well? Now what you want to then do is come across to this part and fill this in here. So let's say, for example, we're looking at our gel polish and our builder gel here, and we can see that our new price, well, the minimum price. So the minimum price is basically the minimum that you need to be charging in order to make your wage per hour. So, and the product cost back. So let's say for this one, we might round that up to £39, and this one is £56 85. So maybe we might do like £57 for this one or you could even do more. You just want to make sure it's not less than. Now, I really like doing prices like this rather than doing like £40 and £60, because it suggests to the customer that this is correctly calculated. When something is like 39 pounds or 57 pounds, it suggests to them that it is that price for a reason. It's more of a psychology thing when it comes to pricing. But I will be tempted to not just round them up to like £60 and keep them at set numbers so that it makes more sense to your customers. So then you want to pop in your old price of what you were charging. So let's say, for example, for gel polish you were charging £32. And let's say for builder gel, you were charging £35. So it tells you the price difference that you need to increase by in order to make your correct prices. Now what this also tells you, if you come over to here and there's a box here for your current income from the current income calculator, sorry to enter your current client average spend. So if you pop back over here, my average client spend was £37 67. So I'm just going to pop that in this box here, £37 and 67 pence pence and I'm going to press enter and that's going to tell me now that my old monthly income based on what my old average client spend used to be was £2,712. But my new monthly income is going to be £3,765.70. So based on everything we've entered, I'm going to be increasing my income by around £1,000. Think of what you could do with an additional income income of £1,000. Well, you could do all of the things that you put on this tab here. All of these things would be met and that is what your new income is going to be in this box here against your old income. Now, based on that, it also tells you the number of clients that you can lose before you lose any money if you implement this price increase. Okay, so if you are going to go from this to, to this, it suggests that based on the amount of time we work and all of those things, we can afford to lose five clients by charging the new amount, not getting any more clients, losing five clients, we would still earn the same. So it tells us that we can afford to lose five clients in a week or 20 clients over a monthly period and we would still not be any worse off with, with our clients. So it also tells you what you can afford to lose. Obviously we don't want to lose any clients. However, it is the inevitable. Sometimes you do want to lose clients. If you're looking at stripping back your services and it is sometimes the inevitable because it's a part of your business growth. Some clients will come, some clients will go. That's just how it is. But if you do implement a price increase and you see some white space in your diary or you see some cancellations, this should just give you peace of mind. In every week you could have five clients left, but you. But it's still, sorry, five clients less. But it still wouldn't make any impact to your income because you're now charging appropriately. So have a little play about with it. Understand what your new prices should be. You obviously now know how to use every single tab. So you can go back and you can tweak things and you can change things. But please make sure that you honor what this calculator says. If it's saying your price should be a certain price. It is saying that for a reason, and that should be the goal that you now want to work towards in order to make sure you are charging appropriately and that you are building the life and the business that you deserve. Now, we've also got a little section for troubleshooting. So if you are having any problems or some of the sums are coming up and it seems like they are way off, if you go over to our troubleshooting section, it can tell you where things may have gone out of whack or where you might need to make adjustments based on what you've entered on the calculator already. So. So I hope you've enjoyed this and I hope you are excited to implement your new pricing structure.