Nice turnover, shame about the profit

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Richard McCabe

It’s easy for salons to grow organically and turnover to increase rapidly when you are new, but the real test is how much profit you make at the end of the day.

I see turnover of so many salons that on the outside looks amazing, and many from the outside would say they are crushing it but when they come to me and I get a chance to delve deeper into their numbers I see their real problems and one of them is lack of stability because the profits are not there.

There are certain short cuts you can take to getting a strong mature salon.

But you need to know what works and what doesn’t in an ever changing world.

Taking a salon from adolescence to maturity is a no brainer, it has to be done and executed well, many salon owners try to skip the hard work that is needed to get there.

Making that move may require a new learning skill. And once it has been learnt and implemented the salon will be strong for a long time. It will have strong systems and strong staff members, it’s hard to break down the two. It’s the core to any great business and once you have it, your life as a salon owner will get much easier and more predictable.

But as your salon moves through adolescence, usually through rapid growth and out of control, some salon owners tend to try and skip the hard work that is needed to take their salon to the next level. You need to surround yourself with experts in their fields or learn what you can about the subjects you find hard. This is not a time to shy away from the roles you dislike, it’s time to face your demons.

Take staff for instance; when things get a bit crazy, and clients are arriving by the truckload. You need staff now, and you cannot wait for your apprentice, you need help now, so you go out and find qualified staff, you test them and they are good at their craft. You hire them and the craziness eases for a while; things seem to be back under control.

Then before you know it new clients slow down, regular clients don’t come back and you see gaps appearing in your appointment book. This is the silent killer as your wage bill, stock bill and other bills have increased, and now your takings are slowly decreasing.

You need to act fast, money is running out and you are trying your best to stay one step ahead of the bills.

You become the master of paying bills just on time.

This is when cracks appear and you lose total control over your business.

There are no quick fixes in this game, no ‘fad diets’ and no ‘one size fits all’. It’s a long haul game and those that realize this are the ones that stay true to their beliefs and their core values, these salon owners lives will get easier and the staff that they bring through will have been built on such values that it’s strong as an ox.

Working on your three-salon strategy PILLARS will make your salon great and strong

PILLAR 1

Attract: Learning how to attract clients to your salon by being an expert

PILLAR 2

Convert: Turning your clients into raving fans and turning your Facebook lookers into bookers.

PILLAR 3

Deliver: You are in a repeat business business, so learning how to wow your clients so they never leave your salon and tell all their friends about you.

At Lifestyle Salon Systems these are part of our signature program that we teach salon owners to help make their salons more profitable.

Are you looking to grow your salon and have a great lifestyle that isn’t ruled by your business?

Before you do anything else I want you to grab your FREE copy of this short book I wrote on attracting your ideal clients: http://bit.ly/2Ma38tc

Check out the website for more details of what we do https://lifestylesaloncoach.com

I’m putting together a new salon case study group at Lifestyle Salon Systems this month… stay tuned for details. If you’d like to work with me on your salon growth plans… just send an email and put Case Study in the subject line and I’ll get all the details to you rmccabe3@me.com

Watch this FREE webinar on what it takes to get your salon fully booked in todays world. http://bit.ly/2vK451d

Work with me and my team privately. If you’d like to work directly with me and my team to increase your salons takings by 30% in 12 months… just send an email and put PRIVATE in the subject line… tell me a little about your salon business and what you’d like to work on together, and I’ll get you all the details! rmccabe3@me.com

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