Finally, we have reached the end of the fiscal year and it is time to do an assessment of your income, shop, equipment, tools and employees working in your establishment. This is the perfect time to prepare for changes in your new year and determine how your establishment has grown or declined. Below you will find some tips to help you evaluate your business and plan changes which will help you continue to grow and increase profits.
- Take inventory of all your equipment to determine what needs repair or replacement. Make sure all your signage is working if you are using window images or neon lighting. Make sure all your lights in and around the shop are in good working order. Above all make sure your client chairs are clean and without tears or holes in the seating. Steam clean your flooring to remove bacteria and loose hair.
- Go over your marketing strategy for the new year and determine if there are any affordable options to attract new clientele by reaching out to new demographics such as children, differing genders and older clients.
- Invest in your staff; they are the heart of your business. These people are the ones who are creating the experience for your clients, they are selling your products, and they are the ones who will determine if your business rises or falls. It’s your responsibility to cultivate them and reward them for excellent performance.
- Offer new services and products. You can earn more money per customer and attract new clients by constantly revising your offerings. Whether that means bringing in an esthetician, a manicurist, a dietitian, or simply offering a new line of products, you have to constantly keep up with what your clients want. Just make sure to spend time doing a little market research to find out what people want before you add on any additional expenses.
Keep up the good work! Merry Christmas!