I found this kind of interesting today as the barber shop I normally went to had a change of ownership not too long ago. The fee for a haircut was about $20 on average for people before and now the new owner is charging $12. That’s a pretty big price change that even surprised me. A lot of the same people were still working there too. As it turns out, this was a business plan to hopefully attract new clientele.
I remember before that some people were saying this was a bad idea where if the existing customers are willing to pay the higher price the why change? At the same time, they did make it clear that they wanted to attract a younger demographic too which in many ways means you have to do something different. You can get more advertising as a result of having very low prices too. Even I began to tell people immediately about it.
In many ways it sounded like the right move as a large part of the clientele went there simply because of the original owner. I heard a few times where people phoned in looking for the person only to discover that the person sold the business. Therefore, they decided to not book a time. So attracting new clients would be the wise decisions. Making things extremely low priced is sure one way to get attention.