How to Increase Revenue 2X for Your Beauty Salon
In this article, you will learn how to increase revenue 2x for your beauty salon business. Please subscribe to The King of Cashflow at han247.com to learn to achieve Financial Freedom with Real Estate Investing.
Employee Schedules – Maximize the Salon Usage Capability
Arrange the schedules for your employees so that you can maximize the capability of your salon. For instance, young and single stylists or technicians more likely have the flexible work schedule. Therefore, it is a great idea to have them work in the early morning (7:30 or 8:00 AM). The targeted clients for this early schedule are busy moms and dads who cannot make it in other hours of the day.
Pay structure for salon stylists or technicians
One important and interesting thing is that in order to increase revenue for your beauty salon, you must be willing to pay your people well. Depending on skills and experience, you may offer benefits and salary package to the employees. One of the keys in employee retention is to make sure your employees are happy at work. You can offer extra benefits for skilled employees; however, you also need to show that you need them as much as they need you. Pay your employees so well that you would love to stay with your beauty salon business the rest of their career. Treat your employees so well that they will be willing to “die” for your business.
Dress for Success
Clients often associate high standards with high-end outfits. Therefore, as salon owners, you want to make sure that your employees will spend significant time on their outfits. It will not only increase their own tips but also improve your salon’s reputation and standards.
Clients Retention and Referrals
Every client would bring at least 10 more (friends and family) in 3 months if he or she really likes your salon’s service. Let’s do the math here:
Original client base is 50 (clients). In 3 months, you will have additional 450 clients. The total number of clients is 500.
Assume by the first 3 months, the percentage of your current clients will move and stop using your service is 30%. You should still have at least 350 clients.
Although there is no guarantee that this number will be relevant for your business, I want to emphasize the importance of keeping your clients happy as they are the ones who pay your bills and wages for your employees!
Also, don’t forget to say thanks to those clients who refer their friends and family to your beauty salon. Send them thank-you notes along with some gift cards (Starbucks is a good choice). Don’t underestimate this simple act as it truly shows that your business greatly appreciates your clients for their support.
Easy add-on services
You can offer easy add-on services such as shoes shining for men, tips, and beauty advice for ladies
Also, it is an extra source of income for your salon by recommending (NOT selling) new products for your clients.
Raise at the right time (before big holidays)
To get your business covered with inflation, you should have a 5-10 percent minimum increase in service fees every year. The best time to increase these fees is right before big holidays like Easter, July Fourth, Thanksgiving, or Christmas. The clients will understand that this is the great need for your business to keep up with the inflation to continuously offer great services in the future.
When crowded, finish quickly; when having a few clients, offer extra services, or spend time with these clients. Clients want to be surrounded by exciting energy or in a circle of organized chaos.
Final Step: Increase Revenue 2x for Your Beauty Salon
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