8 Ways To Make More Money
If you’re a technician and you’re reading this then you’re probably working hard, day in and day out to service your clients and build your business. Hard work is a given in the beauty business. Smart work is even more important!
A benefit to being a technician is that you can give yourself a raise each day based on sound business strategy and good ole’ fashioned elbow grease! Whether you own your own suite business or work with a great team here’s 8 ways you can make more money:
- Raise your prices. Raise them first & foremost to increase profit. If you work for yourself, a price increase is critical to sustained profit growth. The busier you become, the more expenses you have. It’s just smart business. If you work for someone, work with them to create measures that help your price increase based on your performance.
- Increase client visit frequency. Where it makes sense, schedule your clients to come in 1-2 weeks sooner than normal. Do your homework here. If you know a client has been coming every 8 weeks on average and they should come every 6 weeks, then book them every 6 weeks. They will trust your recommendation.
- Increase add on sales. What do you specialize in? How many of these services do you perform each week? Are you doing more waxes than facials? Are you doing more haircuts than colors? More basic colors or balayage?
- Increase retail sales. This should be a given, it may not be a big chunk of money every week but it will add up over time and it will increase loyalty & retention.
- Rebook them. Control the experience and help your clients maintain what you create while driving retention and improving cash flow.
- Strategic Marketing. Implement marketing promotions where it makes sense to help drive sales. Be smart about it. Have it enhance what you are doing, not take away from it. If you are always offering a discount for the same service it sends the wrong message.
- Increase client volume. If you have the room be aggressive. If you’re booked solid still take on new clients to insure you account for the small percentage of clients that leave each year.
- Work more hours. If you are in the position where you can open your schedule to take more clients, then make it happen.
As you put these strategies to good use it is worth mentioning that the last two steps are where they should be in the pecking order. Seeing more clients and working longer hours has been the norm. I’d rather it be the last option for anyone. You don’t have to work long hours just to make ends meet. Follow the first 5 steps and then focus on being busy. Imagine doing 4 high end services each day to make the same money you make doing 10 services at a lower price point. Get it?
Take these strategies, put them in action and make the money you deserve for the work you put in! It may take some time to get to where you want to be so be patient, think long term and be consistent!