Most salons focus solely on the use of services to increase revenue to fund day to day operations. Selling products is often an afterthought, but retail sales can propel your business into a financial stratosphere that would be impossible to achieve with services alone. If you're a salon owner just now getting into retail, the following tips will aid in the profitability of introducing products to your business model.
STAND BY YOUR PRODUCTS
How many times have you seen an influencer or celebrity endorse a product that they would never personally use if they weren't getting paid to do so? The profitability of that product may be high in the beginning because of the paid endorsements, but in the end those products fail because they tend to fall short on quality and genuine connections with their targeted community. Most people in society don't like the feeling of constantly being sold something. You want to come off more as a person who recommends versus a salesperson trying to make a quick buck. Building trust in the products that you offer makes convincing customers to make a purchase a lot easier. You can build trust by:
- Developing a GOOD product. Don't try to sell something
that you wouldn't consistently use yourself.
- Showcase the benefits of your products regularly.
- Display real positive reviews across social media
platforms and your website.
HAVING YOUR PRODUCTS ON DISPLAY
You want to make your products easily accessible. The best way to do this is to display the products in your salon. Don't overthink the process of building a display. It doesn't have to be an overly expensive or elaborate design. Case in point:
A while back, we came across a salon that had their products displayed in an intricate glass desk (like what you would see at an upscale jewelry store). They complained about not making sales until they decided to take a chance and switch up their display. They showcased their products on floating shelves in their lobby area, and they started to see a better ROI (return on investment) almost immediately.
Make your display to be visible at eye-level. This will be more noticeable to your clients because it's literally in their faces. Add some simple decor to your display to accent your salon aesthetic and clients will be drawn to the display like a moth to a flame. You may not make a sale every time a client walks in, but they will definitely notice this display. This can lead to an in depth conversation about the products which can ultimately result in a sale in the future.
E-COMMERCE
Catering to online customers is another great way to bring in additional revenue. The amount of people that you can reach is almost limitless, and the exposure that your salon could receive increases exponentially. Make sure that your logistics are in order before fully delving into the world of e-commerce. You will need to secure shipping supplies (mailers, printers, etc), a platform to online users to order from, customer service contact information listed, etc... This section can be explained in great detail, and we may make a post specifically dedicated to this topic.
All in all, the use of retail can level up your profits to heights that are unfathomable. It would be in the best interests of any salon owner to invest time and effort into carefully developing products that cater to the needs of the clients who regularly show up to receive services. You're killing two birds with one stone by having a single location that provides the best products AND services.
That's all for today! Take care and be blessed!
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