In our world of beauty and skincare, where precision meets artistry, our role extends beyond beautifying clients in the treatment room. A key aspect that sets professionals apart is our access to wholesale pricing, industry wide - a privilege that not only reflects our vast expertise and career investments but also entails responsibilities outside of working hands-on with clients. As licensed professionals, we understand the value of our services and trusted, hand-chosen products. How do we gracefully and professionally discuss this topic with clients if it comes up in conversation?
Wholesale Pricing: The Expert's Edge
As a Licensed Professional, your journey involves a commitment to ongoing education, obtaining and renewing state, city & county licensure, and investing thousands of dollars (and time spent) towards mastering your skills. Wholesale pricing becomes a pivotal aspect of this journey, representing a recognition of your dedication as an industry expert!
Why Do Professionals Get Wholesale Privileges?
- Expertise Commands Value: Wholesale privileges are extended to Licensed Professionals in part as a reflection of their expertise. Our industry recognizes the time, effort, and investment(s) made in becoming an expert in your craft.
- Educational Investment: Licensed Professionals commit to continuous learning, staying up to par with the latest technological advancements, effective formulations and ingredients, and hands-on techniques to offer clients a truly customized experience. Wholesale access acknowledges this commitment.
- Ensuring Quality for Clients: With Licensed Professionals sourcing products directly, we can vouch for the authenticity and quality of the products we use and recommend, assuring clients of optimal results with on-going support from a professional they trust.
Navigating MAP (Minimum Advertised Price) values
Minimum Advertised Price, aka MAP value, is a standard policy among most all professional brands which represents the lowest price at which a retailer is allowed to advertise a product in-person and through online sales channels. Understanding and adhering to Minimum Advertised Price (MAP) guidelines maintains integrity and fairness across the industry as a whole.
Talking Points on MAP:
- Ensuring Fair Market Practices: MAP protects the market and ensures that products are priced fairly across ALL platforms, for all retailers. This prevents Professionals from undercutting one another while upholding the value of the product(s). The numerics will vary from brand to brand, but they are far from random. The cost of R&D, sourcing ingredients, labor, packaging costs, etc, all contribute to MAP value set price(s) to assure the professional is making high profits on their wholesale investments!
- Preserving Brand Integrity: Adhering to MAP protects the integrity of the brands you love and choose to represent in your business while creating consistency amongst their retailers and overall respect for the standards set by our industry. Always reach out to your brand representative for product selling guidelines. In most cases, if retailers are not following policies implemented by the brand, they may risk losing access to wholesale pricing altogether.
- Value Proposition for Clients: Educate clients that adherence to MAP means they receive products at a standard, recognized market value, while emphasizing the premium quality they are investing in.
The Monetary Investment and Time Spent: A Worthwhile Endeavor
Being a beauty-industry Licensed Professional is not just a job; it's a passion-fueled career that demands constant dedication. Clients may not always be aware of the financial and temporal investments behind the scenes.
Expressing the Investment:
- Ongoing Education: Highlight the continuous learning journey, attending workshops and conferences, hands-on and virtual classes, and staying updated on emerging trends.
- Licensure and Certification: Emphasize the importance of professional licensure, a symbol of credibility and adherence to industry standards.
- Investment in Product Knowledge: The time spent understanding product formulations, ingredients, and their impact on various skin types is an investment that translates to personalized care for clients.
- Skincare Ritual Expertise: Showcase your proficiency in creating customized skincare rituals tailored to individual needs, a result of your expertise.
Unlocking wholesale privileges and adhering to MAP guidelines are not just transactional aspects; they are markers of a committed Licensed Professional. It's about upholding high industry standards and ensuring that every client feels the impact of your dedication. Your journey, characterized by learning, investment, and expertise, is the key to unlocking these privileges and setting yourself apart as the trusted skincare authority.
Along with the talking points mentioned above, here you can find pre-curated templates to use in your business (simply copy-paste & edit as needed) when these topics arise so you feel well-equipped and confident in your response.