With rising energy bills, a cost-of-living crisis and high inflation putting financial pressures on salon businesses, and the incomes of clients meaning there could be less money to spend on luxuries, it’s a perfect economic storm that could make 2023 a difficult year. But. If you think positively and make wise decisions, you could grow your business, mitigate rising costs, and see the current situation as an opportunity to streamline and boost business growth.
As one of the world’s leading equipment brands, Takara Belmont offers 5 top tips that will help you plan for a successful 2023!
1. Review 2022 and focus on what worked well, and what didn’t
Adopting a ‘business as usual’ approach does not always serve you well. Take time out to review the past year looking at what worked well and build on those aspects of your business this year. It’s also an opportunity to phase out things that didn’t work so well, so you can focus on the services and treatments that clients want, and that contribute the most to your income and profit.
It's important to bring your team in on this review so they can offer their views and ideas and provide client feedback to shape what you do next. As part of this, you may even want to ask a group of top clients for their views; ask what they want and run your ideas by them to see if they’re excited about what you’re planning to do. Thinking about services you can add or expand to deliver what your clients want, or to attract new clients with popular services that you may not already offer, is a great way to evolve your salon business and appeal to a broader clientele.
2. Create a plan for the year
When you’ve examined your business and your ideas are down on paper, set about creating a plan. Remember the 5 P’s – Perfect Planning Prevents Poor Performance. The planning stage is crucial to your success, as you can timeline changes in your business, manage investments where investment is necessary, and ensure your team are onboard and excited about the year ahead.
Setting realistic goals and timelines, and delegating responsibility to ensure your plan comes to fruition is important. Plus, remember there’s a wealth of support and help you can draw on too. Product companies will have training options and mentors, and our team at Takara Belmont can also advise you on interior and equipment planning to maximise your floor space and income from services.
3. Reimagine your business for growth
At times like this, many salons may immediately rationalise and look for cost savings. This is a sensible part of what you need to do, as it’s important to save where you can. Changing lighting to LED, switching to disposable eco-towels, and choosing equipment that reduces water and energy consumption are just some ideas that will generate potential savings. That said, a positive and imaginative plan will differentiate your salon by presenting an opportunity to be more visible and compete for new clients when other salons go quiet and withdraw as a way of saving.
When thinking about the year ahead, consider ideas that are not just ‘nice-to-haves’, but services, treatments and ideas that will deliver growth and success. For example, see equipment as more than functional. There are many affordable additions you can make that will expand your service and treatment options, upscale the client experience and yield higher incomes.
The Spa Mist II processor, for example, elevates hair conditioning treatments and enables you to add spa-style hand conditioning services, which will increase income. Roller Ball F can accelerate colour processing, which means you can improve colour results and fit more colour clients into your day. These two products are so easy to add to your salon, require minimal training at no cost, and you can be up and running in just a few weeks. Plus, as all Takara Belmont products are available with 0%, zero deposit Finance Lease, there’s never been a more affordable way to expand opportunities for growth.
4. Market your business – focus on existing and new clients
Marketing is crucial, as you need to make sure your salon is visible and competing for attention. Of course, social media is important, but your website is too. Many salon software platforms also offer efficient marketing tools so, as part of your planning stage, create a marketing plan to make sure you promote new and existing services.
Include in this plan ideas for events, initiatives and stand out promotions that will catch the attention of your current and prospective clients. Tap into seasonal events such as Valentine’s Day, Mother’s Day, Easter and Father’s Day, but think outside of cut-price incentives. Discounts are often the default promo but consider designing packages, gifts and partner experiences that focus on great value rather than discounts. For example, you might launch ‘Mother and Daughter Experiences’ for Mother’s Day with a glass of Prosecco, luxury nibbles and a product gift for a fixed price. This way you can retain the full-service price and provide extra value in product. It’s also a great way to introduce clients to your professional product line. You could even include a voucher for another service you’re looking to promote, which will encourage them to book again and try something new.
5. Evaluate and evolve
As you implement your plan, remember to evaluate along the way. Looking at what’s been successful or not will help you to evolve your plan as you journey through the year. Constantly refining your approach can only make you more efficient and successful.
Takara Belmont is the world’s leading manufacturer of hairdressing equipment and furniture. With a global reputation for quality, performance, durability and technical innovation, our equipment can significantly enhance your service experience, reduce costs and expand your income potential. With 0%, zero deposit Finance Lease on all our products, contact us to see how we can help your salon plan for growth in 2023.