Expert Advice

A Profitable Business in a Tough Economy

Web Editor | July 10, 2011 | 7:07 PM
By Geno Stampora
In these trying times, here are a few ideas to keep your current business intact—and even build it. Try these steps to become profitable in a tough economy.

1. Keep salon costs to a minimum. Be careful of overstocking product. Have enough to sell but don’t overfill shelves. Reuse products such as gloves, caps, etc. Look for ways to reduce left-over product at the back bar.

2. Provide a value-filled environment. Make sure the client knows and sees that you are doing everything in your power to bring them value. Make your schedule fit their needs and give them a service that will last a little longer.

3. Create a stress-free forum.
Now more than ever, be careful of what you share with your guest. Practice talking about uplifting and stimulating information. Shy away from talking about the economy, business, prices and world news. Talk about services, health, wellness and things that focus on beauty. Keep the conversation centered around them and their beauty needs.

4. Offer services and products that will take them away from their everyday lives. Give them a new look, shampoo, color or service that will make them feel and look better.

5. Begin a personal marketing campaign.
Some of your clients are going to search for cheaper prices. Start an everyday marketing program by preparing a statement to bring them into the salon. “I am a hair image professional working at a wonderful salon in SoHo, the Sam Brocato Salon. We are all passionate about what we do and have experts on staff for all occasions. Here is a salon card, please come by and see us.” Write down a couple other ways to get yourself started. It’s important to sell yourself and your salon whenever you can. Everyone should be bringing in new guests every week.

6. Choose to have a winning, positive attitude.
Take responsibility for what you say to others. You are what you talk about. Make it a habit to speak well of others. Share positive, uplifting thoughts and ideas with the people around you. People will thank you for being positive and motivating—you will make more money, too!

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