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Ted Halone

 

 

Tips-Archive 2
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Three Easy & Simple Tips to Improve Salon Profitability
Here's the Buzz!!!
Cancer Survivor Opens Wig Shop


THREE EASY &  SIMPLE TIPS TO IMPROVE SALON PROFITABILITY

Have you every said to yourself: "My goal is to be really, really profitable?"  At the same time the business expenses keep eating up the profit-----and you are trying to figure out why.

Here are three easy-to-do tips to improve your salons  cash flow and profitability.

Tip 1: Cut out unprofitable products and services
Evaluate which products or services just don't make any cents. That's right ... no profits at all.   If the service involves expense with unused product- eliminate it.  If you have product on the shelves collecting dust – clear it out.  Did you know there are charitable organizations that would like the product for their fund raisers and would provide you with a tax deductible receipt for the full retail value?

Tip 2: Target new customers from within groups
We all know the saying, "Time is money." Time actually serving customers earns money. Time soliciting customers, costs money. Profitable businesses spend the least amount of time as possible on business activities that don't bring in money.

Here’s the point:  If your clients are not bringing in the amount of money you need ‘per hour” to operate your business-----you best make price adjustments to continue your operations or focus on finding clients who can support you?

Who is your target market?  If you say: “Anyone with hair and skin!” ---your scope is too broad.  Focus on whom you desire as a client.  Focus on where you will find that group of clients.  Target your printed, web, and word-of-mouth advertising to reach the potential new customer.  Time is money.

Tip 3: Outsmart your deadbeat customers
There are two types of customers you don't want to serve—the low payer and the no-payer. The low payers will have the least amount of service possible to pay the least amount of money while absorbing time that cuts into your profitability.  The no payers always want the “little” extra’s for free-------like pieces of haircuts “free” so they can extend the life of their haircut which eventually looks terrible…..but giving you credit.

The best way for service-oriented businesses to take command is to recognize the “deadbeat” tactics and outsmart them.  Simply saying:” I sure can do that for you, however; I will be charging you $xx for the service.  It might be more cost effective if I did the complete service and save you money.”  Your controlled professional attitude will take them off guard….yet provide you profit.

It’s true; the best way to improve profitability is to stop unprofitable, time-consuming activities. You don't need to be a rocket scientist to build a profitable salon. All you need is a willingness to be selective in what you do, who you serve, and how you get paid. You can do it.

Isn’t it time you take your business to the next level?  YOUR SALON COACH is worth the investment!

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HERE’S THE BUZZ!

What is the newest word in salon equipment? ---- If you say “The back wash shampooing system.” - try again.
While the back wash system is “excellent” in so many ways:
It addresses stylist comfort and back pain.
It works to satisfy the client comfort.
There are yet some limitations. First you must have enough space for the unit, then calculate in the price per square footage over a long term period, add in the additional plumbing cost. Most importantly, as a stylist the back pain may either be eliminated or shifted from lower back to upper back while retraining the muscles in the back to the new forward position of working. I’m speaking from experience.

TAKE NOTE OF THE “ADJUST-A-SINK”!
While it has been installed all over the country since 1992- it is now being launched into the commercial salons. Since being personally introduced and being a user for over a year I can personally testify that it is cost effective, space saving, pain relieving and client pleasing in every way!!!!

If you are considering what to do in the challenging economy to make smart investments to have your salon stand out as different---while preserving you physical strength……….PLEASE GIVE ATTENTION TO THE ATTACHED FLYER. The flyer is a special offer presented at the American Beauty Show in Chicago March 28-30th. Please visit us. I feel privileged to attend and share the wonders of the Adjust-a-Sink!------TRULY THE HOTTEST ITEM TO HIT OUR INDUSTRY IN AGES!

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