When to Increase Massage Rates – 5 Signs It’s Time
In this Post: Learn when to increase massage rates. If you have been practicing massage for awhile you may be feeling it is time to increase your rates. While this can be a scary step, it can also be a very necessary one. Learn how.
In the ten years I have been in practice massage, I have raised my rates twice. Neither time was it an easy decision. I agonized over whether or not I might lose clients. Because I loved my clients, I didn’t want them to be angry with me, or worse yet, stop coming to me.
I think far too often as massage therapist we come from a place of compassion and empathy towards our clients. We got into massage to fix the world. Which is all well and good, but you can’t fix anything when you are neglecting your own well-being. Struggling to pay the bills is no way to mend anything. It is important to look at massage and the work we do, as a business, and run it as such!
When To Increase Your Massage Rates
5 Signs It’s Time to Hike Your Prices
- When you are priced under market value. To determine where you fall in the spectrum you must do a little market research. And while sometimes you can gather all of the information you need simply by calling and asking for the price, sometimes a visit to your competitor might be warranted. Often you can learn immeasurable insight into another business by scheduling an appointment, going in, receiving work, and observing their follow-up practice. See how you compare, where you excel and where you fall short. If you are a solo practitioner, you may not want to charge the higher spa prices. On the flip side, if you have been practicing for many years and religiously stay up on your continuing education, don’t undervalue your work either.
- When you have increased your skills. After you have completed continuing education courses, attending a conference, or done a home study intensive, might be the perfect opportunity to make that much-desired price hike. You worked hard for your new skills. You deserve a pay raise!
- When you want to reduce your hours. Simple concept here, the more you make per hour, the fewer hours you have to work to make the same amount of money. Sound awesome? Well, it is!
- When you are turning people away because your schedule is so full. Um hello! If you are turning people away, you can afford to lose a client or two with a price increase. You are a hot commodity, monopolize on this. And don’t feel bad about taking this attitude. Your biggest asset in the massage business is your body. Just like an athlete, you won’t be strong and young forever. And the sooner you can learn not to overtax your body, the longer you will be able to remain in the field.
- When the economy can handle an increase. With a healthy economy, your cost of living goes up. This signals a good time to up your rates.
Raising Rates Give You Freedom
Raising your rates actually gives you more empathetic freedom. I think most of us got into the massage field to help people, not to become rich, and often herein lies the mental roadblock when considering a price increase. However, when you increase your prices, you are actually able to give back in a more sustainable, meaningful way.
Increasing your rates gives you the freedom to pick and choose without hurting your bottom line. When you don’t have to worry about your finances, you can graciously give massages to the cancer patient without concern you might not be able to cover your electric. Other lines of work receive regular pay raises, why shouldn’t massage therapists?
Now that you have determined that it is indeed time to raise your rates, check out: How To Raise Your Massage Rates for tips and tools on effectively implementing this change.
