How to Increase Revenue for your Beauty Salon
With over 46,000 hair and beauty businesses in the UK, if you’re running a beauty salon, then you face a range of challenges. Drawing in customers in the face of fierce competition isn’t always easy – but there are plenty of ways to bolster your revenue in the long term.
Let’s examine a few strategies.
Consider your treatment range
The broader your range of available treatments, the more potential customers you’ll be able to draw in. If you’re offering treatments that can’t be found elsewhere locally, then you’ll put yourself at a competitive advantage. For example, you might find that local salons don’t offer gel nail polish and nail art, so you can offer it and set yourself apart.
If you’re doing lots of things well, then customers might come back more often to take advantage of different kinds of treatments. Given a choice, most people will prefer to head back to the same trusted place over and over again, rather than to look for somewhere new. Use this tendency to your advantage!
Getting the word out to your would-be customers is critical. Market your business using social media, paying attention to the demographics you’re targeting and the apps they prefer. While there’s a great deal of power in the internet, it’s important to also make yourself visible in the real world. You might participate in local charity events where businesses can gain exposure, or sponsor a local sports team. Again, you should pick the causes that are most likely to resonate with your target market, and which are the most cost-effective.
The right offers can really help to incentivise your customers to look for treatment. When customers feel that they’re going to get a good deal, but that they only have a limited time to claim it, then that all-important fear of missing out is almost certain to kick in.
So, you might offer discounts and vouchers to customers coming in for multiple regular treatments, and provide seasonal discounts at certain times of year. So, if you anticipate that your customers might need to be beautified in time for the Christmas party season, then you might offer specialised treatments particular to the festive period.
Perhaps the most important function of offers like this is to drive loyalty. It’s much easier to retain existing customers than it is to persuade new ones to try you out. Your satisfied customers can act as evangelists for your business, spreading the message via word-of-mouth. Since would-be customers are more likely to trust in the references provided by friends than just about any other marketing messenger.
Reduce salon overheads
Renting out fixed premises, and paying for ongoing costs like water and heating, might drive down your profits over time. Considering the current rise in energy costs, reducing your energy bills and making your salon more energy efficient should help you to save some money which can be reinvested elsewhere in your salon You can trim your outgoings with the help of small investments in things like LED bulbs or modern, efficient boilers.
You could also consider making the switch to working as a mobile beautician instead which will save you money when renting or buying a space.