LOS ANGELES - August 16, 2020 - (Newswire.com)
Genbook, a leading cloud-based software for service-based businesses in grooming and wellness, has today unveiled "Pricing Insights," a free online tool with smart reporting capabilities that helps entrepreneurs benchmark and improve their pricing intelligence. Sourced from 13 million appointment bookings of over 22,000 small businesses facilitated by its app last year, Genbook’s Pricing Insights gives entrepreneurs in hair, beauty and wellness the ability to benchmark their pricing against peers in their industry and location, empowering them to price more competitively and confidently.
The free-to-access tool provides granular insights into micro-businesses like barbershops, salons, spas and more across the U.S. in major cities including New York, Houston, Los Angeles, Chicago and Phoenix. Four key data points are shared instantly with users to help improve their confidence as they look to adjust their prices or benchmark their business.
These data points include:
- The annual average revenue for a solo entrepreneur in the selected city and industry
- The maximum and minimum average price of a service in the selected city and industry
- The average booking value in the selected city and industry
- The average time to book a service in the selected city and industry
The launch of Genbook’s Pricing Insights comes after the company realized the growing need for competitive data and guidance among its users as well as the need to maximize revenue from pricing in the current climate.
Genbook CEO Philipp Liver states, “There are many service-based entrepreneurs who are struggling to drive revenue in the current climate as they are forced to work at a much lower capacity due to social distancing rules. We know that pricing is difficult to master when you don’t have the data to guide your pricing decisions. It became clear that we needed to give our customers reliable insights to confidently assess their business against their peers, and then to guide them with resources should they want to optimize their pricing and revenue.”
Genbook customer and Larisa Love Salon CEO Larisa Doll agrees, "Pricing can make all the difference, but it's a challenge when you don't know if you're pricing too high or too low. This tool from Genbook is based on real data so it gives you the confidence and next steps to improve."
Genbook has committed over a decade to helping free entrepreneurs of distractions. Genbook’s simple and affordable cloud-based software solution, is everything entrepreneurs need to help organize and manage their personal and wellness service business.
Since 2006, Genbook has helped over 22,000 small businesses in the personal service and wellness industry. Genbook is headquartered in Sydney, Australia, with an office in Los Angeles, USA.
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Original Source: Genbook Unveils 'Pricing Insights': A Free Online Tool to Help Service-Based Entrepreneurs Price Intelligently