Knowing your numbers is critical to making informed decisions on the types of services you provide and your price per service.
When I travel to practices or speak at aesthetic conferences across the country, the question on how to determine pricing comes up often. Whether you are thinking about opening an aesthetics practice or have been in business for years, determining your pricing strategy for your services requires research. You must know the competitive landscape in the local market, your target demographics, your brand identity (your prices communicate the perceived value of your services to your clients) as well as your practice’s financial numbers (or using assumptions in your Pro Forma if you are a startup). The only way to determine if your services are priced correctly is if you know exactly what it costs to perform each one.
