National Nail Tech Price Increase Day Set for 08 April 2024
In the competitive world of nail care, The Nail Tech Org has launched the National Nail Tech Price Increase Day, set for April 8, 2024 which represents a significant milestone for industry professionals striving for economic sustainability and recognition of their skills. The event aims to address and rectify a common industry pitfall: the undervaluation of nail technicians' work and the subsequent underpricing of services.
Amy Guy, founder of The Nail Tech Org, has highlighted a widespread issue where nail technicians, often lacking in business cost calculation skills, inadvertently set their service prices below sustainable levels. This trend, fueled by a fear of losing clientele to cheaper alternatives, traps professionals in a cycle of low earnings and undervaluation. The Price Increase Day encourages technicians to simultaneously adjust their prices upwards, a collective action aimed at establishing a new pricing standard that fairly compensates for their expertise and investment. Research from the organisation has found that on average, nail therapists are earning £8.70 which is below the national living wage of £11.44, meaning a change is essential, and raising prices collectively as an industry will create a new normal.
The importance of this initiative extends beyond the immediate financial uplift for individual technicians. It is about educating nail professionals on the intricacies of pricing, factoring in expenses such as training, equipment, rent, utilities, insurance, and the booking systems they use. The Nail Tech Org has also provided resources, including a free pricing course for its members, to aid in this educational process. This course offers tools like a current income calculator, pricing calculator, and masterclasses, along with client communication templates to facilitate discussions about price adjustments.
This movement is not just about raising prices; it's an educational crusade to empower nail technicians with the knowledge to run financially sustainable businesses. It challenges the industry's status quo, encouraging professionals to value their work appropriately and to communicate this value confidently to their clients.