Add 20%… Don’t Deduct!

salon-holiday-marketing

This time of year, we are flooded with sale and bargain ads as retail revs up for the holidays. 20% off this, 20% off that…

But what if you had systems in place to ADD 20% to your salon revenue during the holidays…and then year after year after year?

“Sign me up,” you say?

Cosmetologists Chicago did just that at the November 3 FIRST MONDAYs session featuring Neil Ducoff of Strategies. Neil shared his wisdom and experience in no-compromise leadership with more than 50 salon owners and guests.

How can a salon owner increase revenue by 20%? Neil shared that these Three Critical Numbers for Salon Owners will have an impact on the top…and bottom line. Always be aware of these critical numbers, and you will drive your company in the right direction…whether you are a solo owner/practitioner or have a staff of a hundred.

Critical Number 1 – Client RE-BOOKING rate

It’s one thing to get clients in the door, and another to keep them coming back to the salon. But it is essential for improving growth and security. Owners should make re-booking mandatory for stylists. Neil suggests stylists work with clients on a long-term hair maintenance plan that requires three months advance bookings before they leave the salon.

Yes, you can!

Critical Number 2 — CLIENT RETENTION rate

Neil also believes that all stylists should have a client retention rate of 80-85%.

Yes, you can!

If your retention number is lower…it’s time to put a system in place to provide the experience and expertise clients are looking for in a salon. It’s more than a haircut or color service. It’s the entire salon experience that will keep them coming back.

Critical Number 3 — Cash = Fuel

Always know your cash flow numbers. Have a cash flow plan that covers you in the lean months…that’s where re-booking and retention come into play. Without cash you cannot fuel business growth!

Neil Ducoff and Strategies have a lot more good advice to grow salons. Cosmetologists Chicago members are encouraged to go to www.Strategies.com website to explore all the possibilities. Provide your email and get on his list for Monday Morning Wake Up emails.

We hope to see you at the next First Mondays…December 1st at the Ruth Page Theatre on North Dearborn Street, Chicago, for our Holiday Hair event featuring talented artists from Moroccan Oil!

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One Response to Add 20%… Don’t Deduct!

  1. Debra Jargstorf says:

    I attended Neil’s presentation, followed by the CC Annual Business meeting, on November 3rd. Neil is an expert and gets right to the heart of the matter! His focus was on what really “drives” the salon business and the importance of everyone working for those common goals. I totally enjoyed the session. Attendees left feeling re-energized and able to refocus on building business, with many fresh ideas!
    Thank you CC for another great class!

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