How to price your body contouring treatments to maximize profits

how to price your body contouring treatments

How much can you make doing body contouring?  That all depends on how you price your services, which can be tricky.  If you set prices too high, you could miss out on valuable sales.  Set them too low, you miss out on valuable income.  To maximize profits, you must use the right pricing strategy.  We’ll show you how.  We’re sharing the proven pricing strategy we used to build our 7-figure medical spa.  And whether you’re a business pro or a business beginner, you’ll maximize your profits by using it.   

Find out how to price your body contouring treatments to build your own profitable body sculpting business. 

Here’s a preview of what we’ll show you in this article.  

I. Know your body sculpting numbers 

  • Calculate your costs
  • Analyze competitors in your market
  • Define your target clients
  • Determine your plan to compete

II. How to set your body contouring treatment ‘regular prices’ and build from there

  • The psychology of pricing
    • Anchor pricing
    • Odd-even pricing
    • Charm pricing
  • What to do if you are brand new at body contouring 

III. How to build your body sculpting business with ‘Special Pricing’

  • Package or series pricing
  • Bundling pricing
  • Membership Programs
  • Promotional pricing

 


 

How to price your body contouring treatments

The body sculpting pricing strategy that will maximize your profits

 

 

I. Know your body sculpting numbers 


Calculate your costs for each service/treatment (Cost-based pricing)

When you set out to determine how much you can charge for your body contouring treatments, you should know how much it takes to provide each of your body sculpting services.  It’s important to calculate both direct costs and indirect costs.

 

Direct costs are expenses that go directly to the provision of the service, such as supplies for the particular service, the particular machine(s) you use for the service, and your time (or employee’s time) in performing the treatment.

 

Indirect costs are expenses you need to run your business that cannot be pinpointed to a certain treatment.  Indirect costs include rent, utilities, insurance, indirect labor costs like a receptionist, and marketing and advertising expenses.

 

Knowing your total costs is knowing your break-even. It’s your starting point.

 

Costs fluctuate (mostly up), so you should repeat these steps each year.

 

Analyze competitors in your market (Market-based pricing)

Being aware of what your competitors are charging is a critical factor in setting your prices because it’s the best indication of what’s going on in your particular market.  When you collect your competitor’s pricing data, you learn what may be too high a price and what price you shouldn’t have to go below.

 

To get this data, perform market research.  First, internet research by doing a full review of competitor’s websites.  After that, call their businesses to get more details.  Compile your data into a spreadsheet.

 

Things change.  Repeat this process each year to stay informed and competitive in your market.

 

Define your target clients…and your perceived value to them (Value-based pricing)

In learning how to price your body contouring treatments, you need to know how your clients perceive your business and services, and to do that, you need to know your clients.

 

Define your target clients.  Who are your ideal clients?  Find out what they are willing to pay for your services.  Examine things like their income, marital and children status, occupation, etc.   This may require more market research.

 

Determine your plan to compete (Value-based pricing)

To find how much you can charge for your body contouring treatments, you can’t base your pricing on math and numbers alone.  How much you can charge depends on your strategic position in the market.

 

If you are already in business, how do you differentiate your business?  If you are new to the industry, how do you plan to differentiate your business?  In other words, how will your business stand out from your competitors…why would clients choose your business over competitors?

 

These are the most difficult issues you’ll face as a body sculpting business owner.  If you cannot immediately answer these questions, you probably need help in learning how to set yourself apart.  Click here to learn how to set yourself apart from your competitors.

 

II. How to set your body contouring treatment ‘regular prices’ and build from there

 

The psychology of pricing

Research shows that 99% of purchasing decisions are made with the subconscious mind.

 

Tapping into these subconscious psychological behaviors and biases with psychological pricing strategies can increase your income.  Keep this top of mind when you are determining how to price your body contouring treatments.

 

Anchor pricing

After you ‘Know your Body Sculpting Numbers,’ you are ready to set your ‘regular prices’ for treatments.  Regular prices are your ‘anchor prices.’  An anchor price (regular price) is an amount you may rarely collect for the service.  It’s an ‘anchor’ you use to sell all your offers at a lower price.

 

Price anchoring is based on a psychological bias all humans possess.  It’s our tendency to rely heavily on the first piece of information we’re given.  So when we first see a regular price of $175, but we later learn we can get the same service for $119, we perceive it as a great deal.

 

Odd-even pricing

Psychologically, humans are more sensitive to certain ending digits.  Odd-pricing refers to fees ending in an odd number, such as 5,7,9.  Even-pricing refers to fees ending in even numbers, such as zero,4,8.

 

Odd-pricing creates the perception of a ‘deal,’ while even-pricing denotes ‘luxury.’

Our advice?  Use even number pricing for ‘regular fees,’ and use odd-numbered pricing for the ‘deals.’

 

Charm pricing

Charm pricing involves the use of prices ending in the number 9. Research shows us that ending prices in 99 (example: $399) results in 24% more sales, than rounding up to the nearest rounded price point ($400).  Why?  Human minds subconsciously round $399 down to $300…even though it seems completely unreasonable.

 

What to do if you are brand new at body contouring

How to price your body contouring treatments when you are a new body sculpting provider.

  • After going through the steps and ‘learning your numbers,’ cut your ‘regular price’ by half and label it “Limited Time Introductory Pricing”
  • Plan to charge that fee for at least 3 months, or as long as you feel necessary, until you can call yourself a skilled technician
  • This benefits you and it benefits your clients
  • We recommend this strategy to

(1) build your client base

(2) get experience and become more skilled

(3) build a good reputation

(4) start getting referral business

For example, $150 regular price, $75 special limited time introductory price

 

PRO TIP:  We continue to adhere to this ‘initial pricing practice’ in our medical spa, i.e. for each technology or treatment that is new to our business…we discount the fee until we have mastered the new technology or treatment.

 

III. How to build your body sculpting business with ‘Special Pricing’

The following special pricing strategies can build your body contouring business, but be mindful of ‘your body sculpting numbers.’  Make sure you’re still getting a good profit margin.

 

Package or series pricing

Most if not all body sculpting treatments require a series of treatments for best results.  So discounting a recommended series of treatments, often referred to as ‘packages,’ can be a “win win” for you and your clients.

 

For example, your regular fee is $150/treatment and you recommend 6 treatments.  That would total $900.

You could offer a discount for purchasing the ‘package’… $750.

That’s a savings of $150 (or equivalent to a FREE treatment)!

 

 

Bundling pricing

A bundling pricing strategy works for clients who could benefit from multiple treatments (i.e. Fat Cavitation and Vacuum Therapy Butt Sculpt).  You use the same procedure as with package pricing.  It can also be a “win win” for you and your clients.

 

For example, you offer the ‘package pricing’ on both treatments, but add an additional discount for the second treatment, Vacuum Therapy Butt Sculpt.

Butt Sculpt package pricing fee $750 (already discounted).

Offer an additional savings of $100 on Butt Sculpt… for doing both treatments.

 

Membership Programs

Membership programs benefit your body contouring business and your clients alike.  Among other things, membership programs provide your business with steady, recurring income, and more purchases.

 

Consider adding a membership program to your business, and include certain services as part of the monthly membership fee.

 

Our membership program has not only brought our medical spa reliable income, but also high client loyalty and satisfaction.  Click here to get your guide to setting up a highly profitable membership program.    

 

Promotional pricing

Keep your clients excited about your services by offering frequent and varying discount promotions.  Here’s some examples.

  • Lose the holiday inches!  Limited time 25% off Fat Cavitation treatments
  • Feel good baring your legs!  Save $150 off Vacuum Therapy Cellulite reduction
  • Tighten your waist and plump your booty! Save $200 on your combo treatment

 

We recommend a different special for each month.

Use holiday themes and seasonal themes.

Keep it fun.  Keep it exciting.  Be consistent.  And keep it relevant to your client’s needs.

 

Learning how to price your body contouring treatments is learning a brand new skill.  If you want to gain (and keep) a competitive advantage, commit your time initially, and commit to reassess on a regular basis.

If you would like more information on building and running a profitable body sculpting business, visit www.bodycontouringacademy.com.