Salon and spa owners are continuing to adapt to a post-pandemic world. With supply chain disruption, labor shortages, and don't even bring up the gas prices, the way beauty professionals manage their business will have to adapt. Luckily, there are many ways for you to save money and even make extra cash. We will outline some of the best tips for you here.
Learn to Maximize Each Client
Each client that walks in your door has needs and wants, but you are meeting all of their beauty needs? For example, if they only come to you for haircuts, but you off other services, are you introducing them to your full menu?
If not, here are some ways to make sure your clients leave happy and inspired, and you are maximizing each client:
- Refresh your consultation, even with your regular clients to explore new services and products that might benefit them
- Educate your clients on current trends, both in services and products that expose them to what new offerings you have
- Use your social media pages to educate your clients (and potential clients) on services that are underutilized, such as: deep conditioning treatments, extensions, and other service add-ons.
Maximizing each client will create opportunities for revenue, while also increasing your client retention.
Avoid Wasting Extra Cash
I'm sure you're saying "DUH" to yourself, but this is important to note. In this section, let's think about your purchases that aren't beauty product-related. Do you buy the most expensive toilet paper? Do you buy the expensive cleaning supplies and expensive lightbulbs?
It is highly worth budgeting every aspect of your business by asking yourself if you can save some money buying the budget products. Every expense you make adds up, so make sure you know where all your dollars are going.
Pro-tip: Do you ever find yourself having too much stock for sale? Whether it takes up too much space or you aren't seeing a return on them soon enough? Then SalonInteractive might be for you. Salon Interactive is a free service available to Salon Services Pro clients that will allow you to offer your own online store with products you carry in your business, as well as some you might not. Salon Services Pro will handle the inventory, packing and shipping, all you have to do is promote your store, both in-person and online.
Aside from making a 25% commission on every sale in your sleep, if you turn on the "On-Behalf Marketing" feature on SalonInteractive, your clients will receive monthly email promotions to redeem through your store. This feature is a MUST for anyone looking to make passive income as a business owner, with up to 3x the number of sales with "On-Behalf Marketing" turned on.
Click here to sign up for SalonInteractive.
Give Yourself a Raise
We know that this could be a controversial one, but we want to stress the importance of increasing your prices to match your expertise, your local market and to ensure you are supporting your business growth. I mean, most industries have regular price increases, why should our industry be any different.
Mary from Behind the Chair says, "If you continue to keep your prices the same, you are taking a pay cut EVERY SINGLE DAY. Don't feel bad about it; you need to care for yourself before you worry 'if your clients can afford it'.
"But won't I lose clients?" you are asking yourself. @theoriginalbarberdoll on IG said, "about 10% of clients will not rebook after a price increase. Not everyone is your target clientele, and the clients who support you (and your new prices!) will make up for it".
Pro-tip: Remember to inform your clients about the price change and don't forget to explain why you're doing it, to tell them in advance, and update your prices everywhere (online, in-store, and to increase ALL your products/services). If you're ready to increase your prices, but not sure how, contact your Salon Services PRO Consultant for tips.
Be Adaptable
One of the most important things for your business to be is adaptable. There are so many variables that could affect one's business, such as: product and service revenue, your team, your local market, and so much more. You have to be willing to be flexible and solution-oriented.
If you're feeling like it is time to make some changes, here are some of the top areas to examine:
- Your service menu
- Retail offerings
- New technology
- The ongoing education you pursue
Flexibility in business is key. Having the capability and willingness to evolve yourself and your business will create more opportunities for success.
So, there you have it - some of the best ways to make money as a licensed beauty professional in the current business landscape. From adapting your prices to being more adaptable in general, these tips will help you support your business' needs, and create an environment where you can thrive, despite current challenges.
By: Brayton Walls
Digital Marketing and Communications Specialist