New Salon Business Tips to Grow Your Salon’s Income & Profit

Growing a business is an act of balance. Once you have a fixed client base and an incredible team you can attract new clients and grow your salon’s income & profit. In this saturated market, you often find yourself in the dilemma of choosing ways to stand out from the crowd. Whether you own a large chain of salons or an independent stylist, there are countless business ideas to attract more clients. 

In today’s market, almost every newly started salon owner has only one question “How to grow the salon’s income & profit?” Such a simple question but not with a simple answer. In this guide, we are sharing some best practices every beauty business should follow to grow its profits.  

Charge What You’re Worth

This is perhaps the simplest way to grow your salon’s income & profits. If you’ve been charging the same for your services for years, then people might see your business as a little stale. Make sure to increase your prices in the line with the knowledge of what your customers can afford. Collect information on what others are charging in your area. This might cost you a loss of a few price-sensitive customers, but they could be tempted back by promotional offers and loyalty programs. Keep in mind that if you’re charging less then you’re giving your salon’s reputation away. 

Invest in Your Team

You’re the soul of your salon but your staff is the heart of it. Without your team, you’ll be back to square one with an empty chair. Hiring well-trained staff is a significant way to grow your salon’s income & profit. 

Train your staff by educating them, it’s the ultimate investment in your salon and your team. Stay updated on current trends, techniques, and processes. Consider business workshops for your reception and management staff. Try creating a mentoring program for your assistants and help them learn customer service nuances. Regardless of how to make learning a priority in your salon, start with yourself and set an example. 

Retain Your Existing Clients

Before you go straight for ways to attain new customers, improve your salon’s bottom line and make sure that your current clientele is happy with your services. It’s always more cost-effective to retain an existing client than to find a new one. If they’re happy and satisfied with your services they’re more likely to become permanent and refer your name to friends and family.  Keeping your existing clients ensures certain income coming in.

Introduce New Services

Everyone likes variety and wants to be stimulated with new offerings. Take an in-depth look at your current services. It’s a great way if you want to bring more customers through that door, it’s a great way to find ways to make the best of what you’re currently offering. Tap into a niche market and offer a whole list of new services in your area and grow your salon’s income & profit. It could also mean having more certified stylists and skillful professionals at your salon. Another way to introduce new services is by asking your existing clients what other services they’re looking forward to. Consider asking questions for your salon business:

• What salon services do you find most beneficial?
• What extra services do you wish we would offer?
• Do you like the selection of our products and brands?
• How can we improve our services to a more comforting level?

Get Social 

Growing your profits means growing your business now that’s not a bad thing, right! It all starts with promoting your salon and to increase your revenue, you might need to increase advertising to bring in more clients. And that would increase your costs, it’s like a never-ending loop. Social media offers a simple and in some cases free way to reach your clients. 

You can do everything from advertising to offering discounts. You can also pay some costs to promote your business to connect with highly targeted customers. Putting a very little amount of money can rip big awards. Tips to keep in mind to get clients in your chair:

• Be consistent with social media
• Don’t be shy to ask for referrals
• Take a proactive approach to feedback and reviews
• Promote your salon’s ads and posts
• Leverage email marketing

Email marketing is a natural progression for busy salons. With email marketing, you can directly send them your latest blogs, schemes and promotions. 

Give Client Booking Software A Try

You might think you already have enough on your plate with running a salon, bookings, promotions, and handling the finances. In this situation use efficacious software to manage your client’s bookings to grow your salon’s income & profit.

For some people calling and booking an appointment with their stylist is a chore they dread. If you don’t have a 24-hour online booking system you might lose some fat cat clients. To try a high-performance tool for this, go with Picktime. Picktime is an online web-based beauty and hair salon scheduling software. Picktime gives you an endless list of features with budget plans that fit your pocket. With Picktime you get a customized booking page and a book now button for your website. Using Picktime you can also send SMS and email reminders to your clients. You get 24×7 bookings at multiple locations with 24×7 email support. Not only this, Picktime can also handle your staff and payments according to the services. You can also sync your calendar (Outlook/Apple/Google) with the Picktime calendar and manage your personal and business appointments in one place. To know more about the exciting features, sign up for free today!

Perform A Competitor Analysis

With a demanding market competition grows. And you don’t want your salon to get lost in the sea of nowhere, right? Analyzing your competitor gives you an extra nudge in the direction to grow your salon’s income & profit. It gives an idea of what other salons are providing to their clients and what gaps they’re leaving. Try getting a rough idea of the charges they’re taking from the customers. Analyze what you can improve to perform the same services with a different touch. 

To grow your salon’s income & profit you need to have greater oversight of your industry. As a savvy entrepreneur, you should always be on the lookout for ideas to grow your salon business.