Your columns are fully booked, fantastic! You are packed out and that’s great, but where do you go from here? Now is the time to take a look at your business and see where you can make changes to generate more income – even with a full column.
Increase Your Client’s Average Spend
Retail could (and should) be a big part of your business. It’s a way to make residual income without costing you any more time. Recommend your products. Remember it’s not selling if you know it can help your client to improve their skin. Talk to them about why they need it and how they will benefit.
Ditch the Treatments that aren’t Profitable
Work out the costings/profit of each treatment and work out how much you earn per hour with this treatment. Is it time to get rid of the least profitable treatments? (Only if you can. If they are your bread and butter, then work to improve the retail so that these treatments are worth more to you. If it’s nails – Retail cuticle oil, polishes, nail files, hand creams).
Introduce more High-Profit Treatments to your Business
This is a great way to increase your profits. Look at what you already offer.
Which treatments could compliment this? Do you enjoy doing facials? Why not introduce Microdermabrasion to compliment these? The age of your client demographic might also affect which treatments they choose. What is their disposable income like? What are their skin concerns? Consider these when deciding what to introduce.
Become an Expert and Command a Higher Price
Choose an area you are already passionate about. Think about the treatments or training you can do to become an expert in this area. Becoming more targeted can work in your favour. Finding a niche that sets you apart from competitors will ensure repeat bookings. There is nothing wrong with offering a variety of treatments – but becoming known for one particular area can help you charge a higher rate and generate more income.
Often considered recession-proof, salons can generate more income in several ways. The only thing standing in your way is – you – as the owner having a limited creative and marketing strategy. By creating the right salon culture (supported by effective marketing), you will see an increase in traffic and customer loyalty. Both will lead to increased revenue.
SkinBase™ is one of the world’s leading providers of professional beauty machines trusted by over 2,200 accredited salons and spas and more than 4,000 estheticians!
Find out more about how a partnership with SkinBase™ can increase the profitability of your salon or medspa today.