New data reveals that salon owners aged 45+ lose half as much to cancellations as their younger counterparts, according to booking platform Fresha.
But why? Fresha explains...
Business owners aged 35-44 are hit hardest, losing an average of 8% of their monthly revenue to cancellations and no-shows. That's double the 4% average loss reported by owners aged 45 and over.
The difference can quickly add up for small beauty businesses and salon owners who are looking to make their business a success.
A salon owner turning over £12,000 a month could be losing as much as £960 every month to no-shows and late cancellations alone.
By comparison, an older business owner with the same monthly revenue and an average cancellation-related loss of 4% would lose around £480.
Here's some smart ways to beat the cancellation curse.
Why Are Younger Salon Owners Hit Hardest? More Client Booking Data...
Younger clients are more likely to cancel at short notice. Among 18-24 year olds who miss salon appointments, 48% give less than 24 hours notice, and 5% admit to not showing up at all.
By comparison, older clients are much more reliable. 68% of 55-64-year-olds say they never cancel a salon appointment, while 55% give more than 24 hours' notice when they do cancel.
These findings raise the question of whether older salon owners are benefiting from years spent building a loyal customer base, or whether they simply have an older clientele who are less likely to cancel. The jury is still out...
Either way, the data suggest that age may play a role in how beauty businesses cope with the costs of cancellations and no-shows, with younger clients possibly causing more uncertainty and older owners being better protected.
The data also shows:
Across the industry, cancellations do far more than disrupt a day. They directly undermine financial stability. Across all owners:
-
56% agree that cancellations cause them to lose significant income
-
51% say cancellations make it difficult to pay business expenses
-
50% say they make it harder to pay personal bills, rent, or day-to-day costs.
Don't miss out on the Business Live seminars at Salon International to find out how to boost your business.
