7 NEW Salon Business Tips to Grow Your Salon's Income & Profit
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- เผยแพร่เมื่อ 7 ส.ค. 2024
- The unconventional salon business tips and ideas to grow salon business profit!
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Whatever is left when you've deducted your salon expenses from your salon sales is your salon profit.
Now, that's a very simplistic way to look at your salon's profit and loss which often leads us to cut down on operational salon costs in order to improve profitability.
What if we instead can find new beauty business ideas that add more revenue streams to our hair salon, nail salon, spa, or barbershop? New ways to earn money that come on top of your existing streams of income.
The Covid-19 pandemic has certainly taught us the importance of not just having one source of income. As when that is taken away, our whole business is at risk. This is why it's important to have several income streams in your salon business. The tips I'm sharing in this video are not the traditional "sell more salon retail" or "increase your salon's pricing". These are some more unconventional ideas that I have seen work over and over and I hope you'll find some ideas that you can take and use in your salon business.
For more ideas and examples, check out my article on The Salon Business blog where I cover the salon revenue model and new types of income streams you could add to your business:
thesalonbusiness.com/salon-re...
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Thank you gor video, it is very helpful for me! Wish you all good profit!
Thank you for this video.
Thanks for this. Great info
Thank you Shannon! Glad it was helpful!
Great tips!!
🙏
Thanks really good info
Glad you found it helpful!
best, genuine and professional
Very helpful tips!
Thank you 🙏🏽
Thank you 🙏
@@TheSalonBusiness i love your teeth..❤️
How to handle our Salon competition appropriately? This is what we need to know now. I'm looking into attending Cosmetology school soon.
Please made video on barbershop owned by NON barber. Addressing the issues and address money and business strategies specific to this situation
Thanks for adding 🙏
Nämen kolla! Kul att se en svensk här! Kör hårt mannen, du ger väldigt bra värde.
Glad att det uppskattas! Roligt att ha dig här!
This is good
Thank you for the encouragement!
Nice
Glad you liked it 👍
How would you leverage the fact that a salon is situated around several government buildings with roughly 500 + staff members within walking distance?
Interesting. Have you explored any partnerships with these organisations?
How do we manage our own work/life balance?
If i don't mistaken..after tips number 4, you just mention tips number 6,i couldn't see tips number 5..
Yes, well spotted. It somehow got removed in editing :) I have to do a new one with even more ideas like this!
I was wondering if you can help me here, my girlfriend and I are buying a salon where she already manages it for the last 20 yrs,we both agree to split the profits 50/ 50 , if she works behind the chair does she get paid a managers salary and take 50% of profits or is that considered double dipping on the profits?
Not a one answer here. Would need to understand the full.picture better. But at the end of the day, you need to come to a setup that feels fair for both..
I’m a salon owner,manager and operator. My husband is Jevin O’Leary from shark tank😉
Just my opinion from my experience in the same industry: it’s best to keep every position separate but flow towards the best interest of the salon(investment). Example you both agreed to be partners 50/50. Well if one partner was a handyman that repaired dryers,shampoo bowls etc and didn’t receive payment for labor eventually equipment will be sitting for days weeks months even to be repaired.
The flip side to you guys being a couple is this isn’t your first partnership/investment (your marriage 😉) so you mist likely have some good communication skills. Possibly she can take a smaller salary for the mean time and you all hire a salon manager to avoid the headache and wifey can enjoy being behind the chair and a investor… Best of luck
Everything must be in writing! If you don’t have everything in writing with lawyers involved you will lose your money and your friendship.
@@nooniechetarah you have vacancy on your salon i have 10 years professional experience on and i work in dubai now but there are not any facility dubai rules very difficult
Where's the list of subscription model you mention at tip 2? I'd love to see more about it
Check the description of the video!
@@TheSalonBusiness there are no links or examples of businesses using the subscription model in your description
@@runaroundinsquares go figure😆
Hello, do you offer phone consultations for new salon owners? Would like to learn from an experienced salon owner.
Yes. 👍 thesalonbusiness.com/application
What happened to #5?
Well spotted.. It was a mistake in editing 🙄. Maybe I should do a new one with even more ideas.. What do you think?
How would I offer a member subscription to clients who only come in every 3 moths to braid their hair? Thanks
Great question. You probably need to look at what you offer in a different way to see how a subscription could add value beyond the quarterly service. You are offering more than just the service: a lifestyle, great looking hair, etc. What more can you offer to enable that bigger value you deliver? For example: Is there any in between services you could offer? Or is there at home maintains tips/ education you can provide? Looking at the bigger picture of what you offer may spark some ideas on additional things you can offer in a subscription. Hope that helps!
I would recommend to add a loyalty card as well. To get 10% on their next subscription. Or offer scalp massage once a month.
I want to open a salon in 2024 it’s my wish
And i need your help how to get your help?
I cannot take on more coaching client's at the moment. If you're subscribed to my email list you'll be informed when we accept new members though. There's a lot of free resources at TheSalonBusiness.com in the meantime though 👍
Where's # 5
About 5.. It got lost in editing :) It’s been a popular video so might do a new one and include some more ideas 💡
Y did u miss no 5?????????????
I know.. it somehow disappeared in editing. Need to record a new one - maybe a 10 tips this time :)
Personally offer to go to the people’s houses or have them come to yours for 2 or 3 times your rate. You may be surprised how many People I would prefer this.
Hey Lori,
This is an awesome idea - in particular in the times we are in now. Thanks for sharing 🙏
John
I only got 6 tips
Good catch. One accidentally got lost in editing :). I need to do a new one and add some more soon :)
How a saloon can become a products ambassador
Easiest way would be to start building a good relationship with your product supplier 👍
Redo this video and include #5 please
Renting your own hair salon will confuse people as to what your hair salon business really is. It also increases the potential for law suits if someone damages your private property, or even gets injured.
Video starts at 2:30
🙏
I created a video regarding content to post on instagram. I would love to hear your feedback.
Thanks! 👍
More cash more 💰 less investment
Oh yes 👑
This seems like way too busy way too much stuff way too much responsibility and way too much stress trying to juggle all of this stuff, might as well keep a job make 100,000 a year work five days a week and go home and spend time with your family , and have benefits and insurance and 401(k) ,sharing ,your own business is a good idea but not when it’s way too much work and way too much more stress ,easy business is what I’m looking for !they say nothing comes easy I know that I ain’t lazy or stupid I just wanna work smarter not harder
Totally. Running your own business isn't an easy breeze.. Hope I'm not giving that impression. For most of us, makes a lot ot sense to stay employed and have more energy to spend with family.. Thanks for the comment.