2. Example: Breaking Down Costs
Let's get specific. Imagine you pay $500 a month for your workspace. You do 3 procedures a week. That’s about $41.60 per procedure, just for rent. Add another $200 a month for utilities, which brings the cost per procedure to $16.60 more. If you also have a phone plan, it could add $50-60 to each procedure. Supplies like cartridges, pigments, blades, gloves, and hygiene items could be another $15. These numbers don't even cover your labor or any taxes yet.
Unseen Costs: What You Might Miss
Now think about this: What if someone else did the job, not you? You'd need to pay them a wage. Plus, there would be taxes on that. You need to eat, live somewhere, and cover basic needs. This is your minimum wage portion of the cost. Let's also not forget other costs like bookkeeping, bank fees, and insurance. Adding all this up, it wouldn't be surprising if you had an extra $70-120 per procedure. So, if you're doing 12 procedures a month, you’re already looking at $200-250 in costs for each.
The Hidden Cost: Getting Customers
Guess what? There's more! One key "hidden" cost is the money you spend to attract customers. Let's dive in. To be competitive in the Powder Brows, Hairstrokes, or microblading market, you'll likely need a social media following of at least 50,000 to 100,000 people. Why? This reach level typically brings in 20-30 interested contacts, enough to secure those all-important 12 bookings a month. If you're starting and don't have a solid social media presence that aligns with your ideal customer, maintaining this reach can cost you between $500 and $800. That adds another $50-70 to the cost of each procedure.
Additionally, the analyses we run constantly on social media platform engagement cost indicate that the cost of engagement has increased steadily and without significant declines. Currently, the cost of both the web search via search engines and the cost of reach on social media is manifold greater compared to around five years ago. According to some statistics, it has become more expensive 3-5 fold. What should be taken into account seriously is that the rise in cost shows no slowing down as the number of users steadily increases.
The Bottom Line: Costs Add Up Quickly
When you tally everything, don't be shocked to find out that each procedure might cost you around $250-300, and that's before taxes. If you aim to make a profit (and who isn't?), that must also be factored in. For instance, if you have bigger life goals requiring saving money, your selling price must also cover that.
We have seen with many artists that their perception of their actual costs is significantly distorted, which happens to starting artists and experienced artists. It pays off to draw a line and rigorously calculate the costs so that one truly understands their financial circumstances.
