Key Actions That Will Improve Your Salon or Spa Profitability
May 29, 2017
If it is accepted that you are already running a profitable beauty salon and spa, it is time now to think about taking your business to the next level in terms of turnover and profitability. There are many ways to do so depending on your years of experience in this field and the volume of clientele. However, there are a few sure shot ways you can try that usually in most cases will certainly bring success.
Here are some of them that you can implement to grow your salon and spa business and profitability.
Improve customer experience – A satisfied customer is not only a source of permanent revenue, you can be sure that he/she is also a great point of referral and will bring in more clients for you. Hence adopt a personalised approach. Do not treat them as a number in your cash register, go out of your way to remember their names, their tastes and what pleases them most in the your salon and spa. Is it extra towels, a round of gossip with your staff or even the beverage that they prefer? This act of making them feel important and remembered will surely help to spread the message of the quality of services offered by you, thereby increasing the flow of clients and revenue.
Offer one time discounts – Customers will never forget their first day at your spa. If they feel your service is awful, that is the last you’ll see of them. Hence, make the first time treatments a special affair for clients. One of the ways to do so is to offer heavy discounts, something like a bundle of different services for the price of one. If you can make it a memorable experience, the client will come back for it at periodical intervals, never mind if they have to now pay double or triple for it. This will improve you income levels without extra investments in equipment or additional staff.
Focus on increasing average spends – This should be another of your objectives. If a client comes in every couple of months for a haircut, try and push colouring through too. If you succeed, that’s extra revenue for you per client per visit. A word of caution though! Do not be too pushy with your pitch. Convince your client to try extra services without being overbearing. Once your client is satisfied with the add-on, it will be a regular feature in all her/his visits. Along with this, focus also on increasing the number of visits. Make precooking even if the next appointment is months away. Give a signed card to your client and follow up days before the schedule.
Reduce overheads – Look for ways and means to reduce overheads without compromising on the benchmarks of service. Keep the ambience as it is, as well as the number of trained and experienced staff. But cut down on inventory levels and do not invest in additional capital expenditure until absolutely required. If you are looking for an IPL hair removal machine for sale to augment your existing ones, explore alternative installation options. Instead of going for outright purchase, opt for a leased machine. Not only will you save on immediate expenses, you can pay the instalments from the extra revenue generated from it.
Other ways that you can reduce costs are through reducing phone, bank and other establishment charges, rationalising staff costs with better rostering, reducing freight costs and negotiating with suppliers for better deals.
Follow these simple steps and you will surely increase the profitability of your beauty salon and spa.
Traits That Will Help You Become a Successful Salon Owner
May 5, 2017
“Successful business owners often share the same common traits that allow them to thrive as leaders,” says Stephen Blignaut, a successful entrepreneur and one of the leading names in the beauty industry. He runs a successful business of importing and distributing a wide range of ant-ageing and beauty equipment to beauty salons and spas. He also says that to run a profitable and popular beauty business, one requires a unique blend of technical expertise, skills and business sense. Unlike other businesses, a salon business is one where people come not to just purchase a product but also to build a relationship and spend time in a welcoming and comfortable environment. As the founder, this starts with you and your personality traits.
You need a combination of the following traits to become a successful salon owner.
- Determination – Entrepreneurs face a lot of challenges and setbacks during the quest to be successful. As a salon owner, you may have difficulty obtaining the financing to get started or your marketing efforts may prove unsuccessful. You may even have to start the entire process over several times. To become a successful salon owner you need to be determined and pursue your idea even when the chips are down.
- Passion – This is the most important trait to become a successful salon owner. Passion fuels the determination required to be successful, whether you are building a salon from the ground up or it has been inherited by you. You have to thoroughly enjoy what you do, there will be some points along the way when you have to put in a lot of effort. If you are not passionate, then the stress and obstacles will build up and eventually be responsible for your collapse.
- Patience – As a salon owner being patient is essential. You must not only be patient with your clients and employees but also with yourself. Regularly attend seminars, workshops, and training courses and read business books to update your knowledge on the latest trends in the market. This kind of self-improvement takes time and patience. But if you are willing then you can take your business to a whole new level and see a huge return on your investment.
- Skills – Salon owners require an exceptional level of charisma and social skills. Getting along with clients and expressing a genuine interest in them will help you to retain them. You must be open-minded, have the ability to tolerate different kinds of people and have a sense of humour. To be successful, you need to have a caring personality that let customers know that you are concerned about their well being.
- Self-promotion – Talking to others about yourself and your business can be one of the most difficult tasks but it is essential for growing the business. Instead of thinking of it as self-promotion consider it as a desire to share your professional life with those around you.
By developing your own qualities and those listed above you will surely succeed in your salon business.