I’m sure you’ve heard the saying ‘Failure to plan is planning to fail’.
The fact is blindly running your salon day by day without even a simple plan in place is a recipe for failure
From my experience, salon owners are generally wonderful and caring people with loads of talent and optimism, but often they’re pretty reluctant to sit down and PLAN for their future business success.
Before you can start out on your journey to business prosperity, you need to know what route to take to get you there as quickly, efficiently and as stress-free as possible. This means creating a plan for your business.
Let me ask you a few questions to help you get your plan started…
- How much profit (after your wages) do you want your salon to make in the coming year? Be precise here, is it $25K, $50K or more?
- After adding your projected expenses back onto this figure, what turnover does your salon need to achieve…..exact amounts here, please.
- Ok, now that you know how much your salon needs to take, what does that break down into as a weekly figure.
- Great, now you have some idea of what your salon needs to be taking every week to meet your financial goals. The next question is, how are you going to achieve this?
- Here are some things that you can ask yourself to get started:
- Is it time to have a price increase on services and if so how much should it be considering the cost of providing each service?
- Am I ready to retail a more profitable line of product where I can earn more dollars per sale?
- Is my roster aligned properly to the amount of work coming into my salon or do I need to measure this more closely to find out?
- Are there better, more profitable services I could be offering to my clients?
- Is it time to train my staff in better retail and service up-selling techniques?
- Can I possibly reduce my overheads and do a better deal on most of my expenses?
- How can I retain my clients more effectively and therefore save tons of money on expensive and mostly unnecessary marketing campaigns?
- Are all of my staff re-booking each and every client before they leave the salon?
Now, this list is not comprehensive by a long shot, but it will give you a starting point for your business plan.