Periods of economic uncertainty are inevitable. As a business owner, the most important thing you can do is plan for this kind of economic state as an act of preparation. Salon owners and stylists can make certain parts of their everyday routine, salon services and customer service solid and reputed so as not to lose clientele or necessitate any drastic changes should an economic decline occur.
Thankfully, hair salons are known to be relatively immune to economic uncertainty and recession. Even so, it’s incredibly important to keep your salon business stable and well maintained, even when the state of the economy is looking bright. Here’s a look at why hair salons tend to remain stable during economic strife, and what you can do to keep your salon business strong during periods of economic uncertainty, courtesy of the team at Salonory.
Why Are Hair Salons Essentially Recession-Proof?
It’s an interesting question to ponder, but not one that’s difficult to answer after a bit of thought. You see, there are so many people all over the United States who have come to rely on professional salon services and the expertise of hairstylists at their local salon. These services are not things that can be replaced with an alternate service or easily replicated at home, which is why they usually make the cut—even when times are tough financially. For example, the use of professional hair color and the demonstration of good, reliable color application is not something many women who are not hairstylists know how to do well. It’s also not something that’s completely worth the time and effort to learn how to do on their own when a professional stylist can get the job done at the salon expertly and efficiently.
Though women flock to the salon for routine trims, highlights, gray coverage and more, there’s also a case to be made for men and their dedication to salons or barber shops. Simply put, it’s difficult to cut your own hair. When both scissors and electric hair tools are in the mix, it’s best to leave it to the professionals, which is why both men and women value salon services regardless of the nation’s economic state. The main point here is that salon clients are willing to pay for consistently good salon services. Unfortunately for other businesses, that means these clients might cut out other expenses like eating out or having food delivered, which is why restaurants typically take a hit when the economy is declining. To ensure steady salon business, check out these tips on how to navigate the waters during economic uncertainty.
Keeping Business Steady During Economic Uncertainty
As a salon owner, you want the best for your salon, clients and the stylists who work hard to give them amazing results after each and every appointment. This starts by creating and maintaining a welcoming environment and an efficient space stocked with the latest professional salon supplies and accessories. From professional shampoo, conditioner and nourishing treatments to professional hair color and beyond, the goal is to have an option for every client’s request and each stylist's need.
Speaking of hairstylists, their needs should be both heard and addressed. It’s important to create an environment where stylists can work their magic without feeling like anything is missing. Salon owners should take the time to hear about requests for new salon tools, workplace issues or other concerns from their stylists and other staff members, and make an effort to fulfill any reasonable request. Doing this will help create a fluid line of communication and allow stylists to do their best work. When stylists do their best work, their clients are more likely to come back!
Even with great service and exceptional stylists, economic unrest can instill financial strife upon even the most reliable clients. When economic change becomes noticeable, check in on your surroundings. Take note of your new and returning clients compared to recent years and, if there is a decrease in both, you might consider altering the prices of your available salon services. Do some research and see what other salons in and out of your area are doing as a result of economic uncertainty but, overall, trust your gut. Lowering prices and keeping longtime clients is better than “sticking it out” and taking a permanent hit to your list of regulars.
While a sudden or gradual shift in the economy can be unsettling, it’s nice to know you have options as a salon owner. Trust your knowledge, remain open to change and know that your salon can remain successful even in times of economic uncertainty.