We know you love your job and helping clients look and feel amazing – but that doesn’t mean you don’t want to make more money while doing it! There are ways to increase your profits from your hair extension business (whether you own a salon, rent a booth, or work from home) without simply working more.
Here are our top six tips to work smarter, not harder, and increase your profits.
Let Your Clients Dictate Your Schedule
No, we don’t mean work whenever anyone calls and wants to book an appointment – that would be impossible! Instead, take a look at your schedule and see when people are booking with you most often. Weekends are probably always busy, while some weekdays are usually slow, right? Create your schedule around those busy times to make the most of your time at the salon. Ideally, you always have one client scheduled after the other, without time spent waiting in between appointments. Working on busy days and eliminating slow days from your schedule will get you the most bang for your buck.
Raise Your Prices
This might seem obvious, but it can feel daunting to tell current clients that prices will be increasing, so many of us simply don’t. However, if it’s been more than a year, or if you’re booked out months in advance, then you’re probably overdue.
Most clients are understanding of this, and having a clear price list and giving everyone sufficient notice before increasing the prices will help make the changes go over smoothly.
If you want to be a high-end salon and charge more for the experience you provide, you have to look the part, though. Which brings us to our next point:
Dress for Success
If you position yourself as a high-end salon or stylist, you will attract a different clientele and can charge more for your services. However, aside from having an excellent skill set, you and your salon have to look and act the part, too.
Having a classy (but still functional) dress code, always being professional and punctual, and keeping the salon itself sparkling clean is crucial.
Add Products to Your Suite of Service Offerings
Headbands on the counter, specialised shampoo lined up neatly along the wall – offering retail that compliments your services is an easy way to increase your profit. Be sure to recommend products to customers and be able to explain why it will help their hair and how to use it.
It’s also important that you keep your retail space clean, organised, and eye-catching. Dust, clutter, and unnecessary items will keep clients from approaching the area.
The only way to get new clients (AKA earn more revenue and increase profits) is to market yourself! You have to let people other than your friends and family know about your business. Because it’s such a highly visual industry, Instagram is great for marketing your hair extensions business. Be sure to capture before and after photos of all of your clients, especially when you’re getting started, to grow your business’s online portfolio.
Invest in Yourself
The only way to ensure you’re able to continue raising prices and stay at the forefront of the industry is to keep up-to-date with your skillset and stay on top of the latest trends and techniques. It might seem counterintuitive to invest money on a course or training in order to increase your revenue, but remember, it’s an investment, not an expense.
Our Business Builder Program is the perfect way to grow your clients and increase your profits – and yes, it includes info on how to market your business! It’s a self-guided course with video training from 10 different industry professionals. Sign up here for updates and get ready to start growing your business.