Your Salon vs. Inflation: Here’s How To Come Out a Winner
As a successful salon owner, you are focused on client care, delivering the most effective treatments, and using high-quality products and not always considering costs correctly. So what happens when inflation hits? Costs always rise but they don’t need to control your business or inhibit your profit. With these tips, you’ll find keeping your salon running at its best while also managing expenses is possible. From emphasizing the importance of ongoing treatments to your clients to managing waste in the salon—here’s how to get smart and win when it comes to inflation.
Rely on Your Products
The truth is you get what you pay for, so when times are tight, don’t skimp on the quality of your products. From quality to performance it’s important as a wax professional to ensure you are using the best wax on the market to deliver optimum results for your clients. Great results will lead to more repeat business, referrals and upsell opportunities. Quality wax and accessories will also help with efficiency (speed waxing = more time in your schedule) and will perform better meaning you’ll need less wax and supplies per visit. Also be sure to stock quality pre-and post-wax care products in your backbar. Clients will invest in products that provide results.
Create Value in Your Services
From emphasizing the benefits of ongoing treatments to selling pre-and post-wax care products, you can control inflation by educating your clients on proper care both at home and in the salon. Your backbar and retail sales are a great opportunity to educate clients and provide professional instruction for care before, during and after their treatments. By creating value in your services, you are building a relationship with your clients that will keep them coming back for more. Take the time to build trust by providing knowledge and access to some of the best products on the market.
Eliminate Waste + Find Ways to Save
Look for opportunities to educate yourself and your team on the costs of wasting product. Talk about proper wax temperature, how to add wax to warmers during the day to eliminate waste, and educate on the proper uses for pre-and post-wax products. Understanding each client and their individual needs will also help create a plan ahead of time which can also help reduce product waste.
Be sure to look for other ways to save—simple tactics such as ordering your main products in bulk to receive discounts, monitoring product sales and utilizing free shipping are little ways you can often save big. Partnering with companies that invest in your business by offering opportunities to perfect your technique, train your staff, or pay it forward when it comes to industry insights, product knowledge and business tips can help you save in the long run.
It’s Okay to Give Yourself a Raise
Last but not least: Do NOT be afraid to give yourself a raise. We are always supportive and excited for our clients when they enjoy success, yet shy about our own. Never apologize when you raise your prices—it shows you value your services and what your offer, but be sure to handle the conversation correctly. Communication is key so consider providing three months notice. And when you announce your price increases, remind them that you appreciate their ongoing support, thank them for their loyalty, and offer some explanation as to what they can expect.