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Cutting Costs, Boosting Profits: A Guide to Saving Salons Money

Updated: Aug 25, 2023

Have the energy bills crept up?

Saving energy is not only good for the environment but also beneficial for your salon's finances. You can reduce energy consumption and lower those bills by implementing energy-saving measures. Consider using energy-efficient lighting and upgrading to modern appliances like new boilers, which save you money in the long run and create a pleasant atmosphere for your clients. Encourage your staff to turn off those straighteners when not in use.

Also, don’t forget to keep your eyes on energy prices, as you might be able to secure a better deal.

Are you ordering too much colour?

Avoid unnecessary expenses and product wastage by implementing a system to decide on your weekly spending and ensure you have the right amount of colour and products on hand; you could determine your order based on the previous weekly sales and set a percentage that the salon can spend. This approach will help you strike a balance between making sure your team have what they need to deliver an excellent service whilst controlling costs.

Are you on the digital map?

In the digital age, cost-effective marketing strategies can significantly boost your salon's visibility and attract more new clients for a first visit! Social media platforms and email marketing campaigns can help your salon and team engage with your target audience. Share inspirational content, such as photos and videos showcasing your team's best work and unique services.

Are you stuck on ideas for digital content and strategy?

Check out our friends at "Salon Social Club," a valuable tool that provides affordable marketing solutions to enhance your online presence. Also, remember that you can build relationships with existing and potential clients by offering exclusive promotions and sharing helpful hair care tips.

Let's minimise the downtime

When did you last sit down and look at the times your clients wanted to come in? Some salons in commuter towns have noticed a surge in evening appointment requests with less demand for Saturdays, and it's essential to understand when your demographic is most likely to want an appointment to minimise downtime and boost profits.

Simon Harris from MySalonManager says, 'Minimum wages are around 40% higher than five years ago, and you could offer your team flexible hours and staff rotations to offer at appointments at peak times! The team energy and your wage bill versus service takings could improve as a result!'

Need some new salon chairs?

You may consider leasing services to save money and maintain a modern salon environment. Consider exploring equipment leasing options instead of outright purchases to reduce upfront expenses.

Renting equipment provides a cost-effective solution that allows you to access the latest salon technologies without a high initial investment.

Keep an eye on the interest rates or hidden leasing costs; some companies may charge a hefty credit fee and ask you for a personal guarantee, which could put you at personal risk if things get tough for the business.

Establish consistent service and save on training costs.

Upskill select staff (usually the top performing or most creative) to deliver in-salon training programs. Not only does this boost staff motivation, but it also opens an additional revenue stream by offering training to hair stylists outside of the salon.

Don't discount your apprentices or any non-hairdressers working with you. They may have fantastic knowledge to share with the team, like client service or something great for well-being and a calm environment, like Yoga or meditation.

Implementing just one of these practical strategies can unlock the secrets to success in the hairdressing industry. With careful attention to energy consumption, stock management, cost-effective marketing and scheduling flexibility, you could be well on your way to running a thriving salon while saving costs, and if you're looking to grow your salon business and profitability, contact us today by clicking here.

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