Salon Spa Business Information for Salons and Spas

The Aesthetic Industry is Big on “Passion” but Low on Productivity

02.06.2017 · Posted in Articles

shutterstock_50767420

The aesthetic industry is big on “passion” but more often than not both management and staff direct this commitment to care and nurturing clients forgetting the business also needs this same level of commitment and care if it’s to prosper. Therefore if you and your team are too caught up with the ‘touchy feely’ stuff you may have lost touch with the fact you’re in business to make money. Like it or not money turns the wheels. Clients need to earn money to visit, they need to spend this money and enough of it for you to pay your employees, pay your bills, keep the doors open, and hopefully make a well-deserved profit.

Operating your business to be efficient, effective, productive, and profitable is the key. However sadly every single day we are losing passionate people from this industry because businesses are failing. And it’s not just the business owners losing their investment we are also losing many highly skilled and talented professionals who are failing to earn the income their qualifications should be providing. The single main reason professionals leave the industry is because of uncertain, unreliable or insufficient working hours. This is a very real issue and after all the education and training that will have gone into developing these employees it is a crying shame to lose this talent.

It’s not a slowing economy that’s closing businesses it’s more often the failure to adjust to the current commercial environment. With more competition and in many cases very savvy new players in the game combine with the fact the cost of doing business has escalated and you have a lethal situation.

These are some of the steps I encourage you to implement if they want to build an efficient, effective, productive, and profitable aesthetic business in the entrepreneurial method:

  1. Plan everything and start by conducting a SWOT analysis (strengths, weaknesses, opportunities, and threats) researching and compiling data then create the action steps or blue-print on how to move forward achieving goals and targets in the most direct effective way
  2. Adopt wise money management and fully understand the monthly “Profit & Loss”. And while cash flow is the lifeblood of any business how well it is managed will ensure bills are paid and the bank balance grows
  3. Value each customer (client) by knowing and providing the best personalized attention, results outcomes including upgrade services, series of treatments, and homecare requirements recommended and sold. This is good business but as importantly it ensures the client becomes an ambassador for your business
  4. Build a Team of Experts not just employees who perform services but experts who solve clients aesthetic problems. Provide these experts with the latest scientific technology, tools to analysis, and training to achieve outstanding results and deliver on the “Brand Promise” you proudly promote and market
  5. Level the playing field by first thoroughly researching and then investing in the best technology and products available that enable your business to deliver higher, better, and quicker results
  6. Create marketing visibility in your trade area by your Unique Selling Proposition (USP) that Brands your business in a memorable and compelling way so all considering aesthetic services choose your business over your competitors
  7. Invest in yourself it will be an investment in the businesses bottom-line profitability. Every successful entrepreneur I have ever known is current with what is happening in their industry through subscribing to magazines, journals, reports, newsletters and industry publications. They are regular delegates of seminars to hone their skills realizing you can always learn more. But what really stands an entrepreneur apart is they seek experts to help and support them in reaching their goals and they quickly adapt and implement new improved methods. In fact all successful  entrepreneur like athletics’ have a coach to help them improve skills to reach their “personal best” a business needs this opportunity to achieve the highest profit potential.

Comments are closed.

Bear