Pricing is a critical element in building a successful business. The prices you charge depend on your costs, market trends, demographics and competitors' prices and will vary from region to region. As most services are intangible, they are more difficult to price than products. In addition, many consumers use price as an indicator of quality.

• If you charge too much, you could frighten clients off.
• If you charge too little, they may assume that the service is cut-price quality.

When Pricing Your Services Consider:

• The average price for nail services in your city.
  Since you are offering a service based on convenience, your price point should be at the same level or slightly higher than another local salon's or spa's prices. You are providing clients with convenience by going to them, so saving them time and the cost of gas, parking and (for some) babysitting charges.

  If there is another mobile nail business in your city, meet its prices. Better yet, book a session so that you fully understand what your competition offers. Then, develop your strategy: either charge less than your mobile competitor or add value to your services in terms of quality and extras.

  Always be alert to your competition, whether it offers traditional or mobile service. Watch for price changes, added services and other developments.

• The minimum value for your time.
  Thinking in terms of cost per hour is a practical guide. For example, if your travelling time to a client's home is an hour each way, what is that time worth to you and what is it worth to the client? Factor that figure into your pricing. Bear in mind that, although traditional spas have no travel costs, they have significant overheads in terms of rent, insurance staff, and supplies built into their charges to clients.

  You must set service-area parameters to ensure that your business is cost effective.

• The time each service takes.
  Time is money. Use your time effectively and efficiently. Allow sufficient time to provide quality service but do not waste any time. Where possible, stack jobs geographically by covering specific sectors in your region on certain days.

  Test and time services. This will help you to standardize them and give you a reliable framework for giving cost estimates

• The cost of fuel, vehicle maintenance and insurance.
  Factor in the cost of travelling to clients in setting your prices.
   
• The cost of the products used in providing the service.
  Calculate a cost-per-client for products used for each service.