Build Your Own Salon Business Consultant Phil Jackson has five new year’s resolutions for streamlining this growth into effective new year's resolutions for your hair salon, which you can read below:
1. Take Back Control of Your Business
“A new year and a new business attitude is a huge opportunity. That supplier you’ve been unhappy with; that employee with a chip on their shoulder; that customer who is always rude to your team - it’s time to ditch them all.
"Shop around, take advice and make sure 2024 is the year your business serves you, supports your ambitions and delivers what you want out of it. Take back control, inject some of that new salon energy and change the way you do things for the better. Build your business around your life goals - don’t build your life around your business!”
2. Set Aside Income for Business Safety
“For years, we’ve been taught that having spare cash sloshing around your bank account is a bad thing - that every penny should be put to work and invested in the continued growth of your business. If previous years taught us anything, it’s that the unexpected can (and will) happen one day, and that you can’t rely on your government, trade body or insurance company to bail you out if the worst should happen.
"Start by squirrelling away just a couple of percent of your turnover and aim for a minimum of three months of your fixed costs to be put somewhere safe. You’ll be lucky to find an interest-bearing business savings account but try to keep your rainy-day fund somewhere away from your current account so that it doesn’t get swallowed up by operating expenses.”
3. Be Prepared to Change Prices
“We’ve seen what a massive difference 12 months can make to your business, so predicting what your salon cost structure might look like over the next year has proved close to impossible. Take away a bit of that pressure and start reviewing prices every six months. You might look at colour prices one time then cutting prices the next, or beauty prices one time and aesthetics the next. That means an opportunity to tweak prices as necessary is never more than a few months away and can help minimise the impact of supplier changes.
“If you haven't already, make this the year you go digital by having a PDF version of your price card on your website and QR codes available to those who want to see the list. That way you can make changes to your pricing without re-ordering expensive physical price lists.”
4. Embrace The Love for Small, Local Business
“There is a positive move towards small business which can serve your salon well. Take this a step further by looking around for smaller suppliers with a great back-story. Local, family-run or bespoke brands can bring something exclusive and unique to your service and retail offering. It taps into the way your customers want to shop and helps you stand out from the crowd.
“An added bonus is that you’ll likely be one of the best customers for a smaller brand rather than an anonymous account number to the bigger ones. That can mean increased flexibility with promotions, a closer working relationship and, occasionally, access to special pricing or training.”
5. Embrace Change and Be Brave
“It’s easy to see 2024 as a year to cut back, play safe and scale back your ambitions, but there is some great news for salons that are still in business. Your clients are recognising the importance of their salon visits for their wellbeing; towns and cities are recognising how important we are to the High Street experience; there are more potential team members available than there have been in years and there is a popular groundswell in support for local businesses."
