Your business exists to make you money.
Whether you are a stylist or salon owner, whether you sell goods or services, ultimately you need to make a profit.
How much value are you providing your clients? Do you deliver the wow factor to your client’s experience when they interact with your salon? Maximin the spend of each and every client in an area many stylists struggle to maintain consistency on. In particular, retail is a key area of opportunity for revenue growth in most salons. Sales have changed dramatically as we are now in the age of the buyer. Thanks to the internet, buyers are confident they can discover the right product for their needs without your help. Therefore in this new sales environment, relationships are more valuable than ever.
Another area to think about is your pricing. In tough economic times, it can be scary to take the leap to bump up your prices, yet it comes down to basic supply and demand.
I had a conservation with a very successful salon owner recently. She works servicing clients full time and is booked out 3 months in advance herself. When you are in demand this much, this is when you should be increasing your prices.
You will be able to offer better services and greater value, plus deepen the relationships. Remember, that the price is simply what they pay, but the values is what they get!
Implementing a regular price increase is purely a system… and systems are imperative to keep a business running smoothly. Plans are an important foundation, but you also need to ensure implementation and follow through.
So you are offering value for what you charge? What can you do to increase your client spend? And how can you improve your service to provide greater value?
Regardless of how well you believe your quality of customer service is, by having an attitude of seeking to be better, you are always seeking to improve. This mindset and deploying follow-through execution will deliver breakthrough results.
Execution is the sweat spot where strategy translates into success.
