As you set out to launch your hair salon, you are probably at a crossroads on how to balance quality with price. No matter what other things you offer, these two factors happen to be either a deal breaker or a deal maker. If you want to stand any chance of attracting and retaining clients, this is one thing you should sort out, really. Though it may seem a bit difficult to set a competitive price without compromising on quality, it can be done. Here is how:

1. Set A Budget: If you want to set a feasible budget, you would have to consider typical prices first. This would give you a fair idea of whether you can give the best quality within your budget. Typically, your aim should be to find a budget that makes sense without your having to compromise so much on quality.

2. Outsource What You Can: Your best bet is to focus on your strengths. Although your reason for outsourcing is to reduce cost, it does not mean you should go with a vendor who offers you the lowest price. Endeavor to engage a vendor who offers you the best quality at a fair price. With plenty of options and price points to choose from, doing a little research would not hurt you.

3. Embrace Technology: You can make use of cutting-edge technology to deliver quality service at a minimal cost. There are several apps that serve the needs of small businesses. Your role is to determine the one that fits the needs of your hair salon without making you break the bank. Do not fall for the bells and whistles of these apps, choose the one with great functionalities that match the hair salon industry.

4. Go Digital: It is so much cheaper to market digitally than with traditional print. This would help you save some money which would have been spent on brochures and posters. With more people making use of their smartphones and tablets, targeting clients through digital marketing would give you cost benefits while promoting your brand.

5. Acquire Quality Second-Hand Equipment: You cannot avoid purchasing equipment for your business. However, new ones might prove to be too expensive for a small business like your hair salon. To be able to compete with other businesses, purchasing quality second-hand equipment would help you save some money without compromising on quality.

Balancing quality with price is very doable. It requires a little bit of creativity on your part and the willingness to research more in order to get the best quality possible at a competitive price.

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