That’s the question that’s been going around and around. Setting your rates as a makeup artist involves considering numerous factors beyond simply knowing what others in your area charge. Here are my 5 cents on some essential aspects to consider when determining your rates:
1. Experience Level: Reflect on your level of expertise and the number of years you have been in the makeup industry. More experience may justify higher rates.
2. Education: Consider the time and cost invested in your education, whether it's from cosmetology/esthetics school, makeup school, classes, or business courses. Also, account for the ongoing expenses for continuing education.
3. Location: depending on where in the world you are and how big your city is the rates might vary.
4. Target Market:: Identify your ideal clients and the services they are likely to seek and pay for. Tailor your pricing strategy to attract the specific clientele you desire, be it budget, middle, middle-upper, or upper class.
5. Type of Services: Determine the nature of your services, whether on-site or in-studio, luxury, mid-range, or budget-friendly. Consider offering a la carte services or packages, as well as do-and-go or day rate options.
6. Cost of Products: Calculate the expenses incurred for each client, including skin prep, complexion products, color products, and disposables. Determine how many applications you can get from each product to calculate the per-application cost.
7. Business Expenses: Include the initial setup costs for your business and ongoing expenses like maintaining your website and emailing services, business/liability/kit insurance, licenses, taxes, and legal services.
8. Time Invested: Account for the time it takes to provide a service, including setup, the actual makeup application, and breakdown. Do account for the travel time if you’re going to see your client. Evaluate the value of your time and expertise.
9. Administrative Time: Factor in the time spent on administrative tasks such as contract preparation, emails, phone calls, and client consultations. Assign a monetary value to this time.
10. General Overhead: Calculate other overhead costs, such as studio rent, utilities, and marketing expenses.
11. Personal Living Expenses: Understand your personal financial needs and determine the amount you need to earn to cover both business and household expenses while maintaining a comfortable lifestyle.
It's essential to consider these factors individually, as they contribute to your unique situation and the value you bring as a makeup artist. While knowing what others charge can provide some reference, basing your rates solely on their prices is not advisable. Each artist's circumstances are different, and setting appropriate rates requires a comprehensive analysis of your expenses, skills, and target clientele.
I’d love to hear your thoughts and any additions would be appreciated!