Maximising your profit margins in the beauty industry can often be a struggle with so many new products, treatments and therapies being developed or created every day.
Working out which ones you want to stock, sell or practice can be a minefield – choose the wrong brand for any one element of your business and it can have a knock on effect on your overall margins and competitiveness, says Karen Walker, Bronze Leaf
One way in which salons across the country are haemorrhage profit opportunity is by not fully engaging with sales practices such as up-selling and product add-ons.
More often than not this is due to time constraints, not enough knowledge of the brands and products, lack of personal confidence, not wanting to appear to “salesy” or even a lack of incentive.
When I created Bronze Leaf I wanted to make sure my salons had a product that would offer owners a flawless, premium product for their client’s that would maximise their profits and offer their customers take home exclusive products not available on the high street.
In order to do that I had to ensure Bronze Leaf was created with a thicker consistency eliminating overspray and wastage as well as making sure each one litre bottle was delivering exactly that – 20 full body spray tans.
But creating a great spray product wasn’t enough. I recognised the financial impact a retail product could have on a salon’s bottom line if they were able to easily up-sell our 100ml top up bottles to the customer. These travel friendly bottles have been priced and packaged so that they are accessible, affordable and are the same solution as the spray tan option.
Many consumers depend on their salon and the therapists to use their expertise to link-sell other brands, products and services within your business to meet their beauty needs. Whilst they may have ideas gathered from press and social media they rely on your experience to advise what will produce the best results for them.
Using traditional sales methods and unique tactics you can take a customer from purchasing alternative low-profit margin tans to choosing a higher profit tan such as Bronze Leaf and other related products and services.
From email marketing and social media to press, publicity and sales training it is essential that salon owners and managers take time out of their busy schedules to prospect, retain and attract footfall and positive reviews.
This doesn’t have to be taxing, in fact this year Bronze Leaf will be rolling out a business development programme which will offer free training to our salons in everything from business strategy and sales to press and publicity. For example, we’re delighted to be welcoming Anthony Woods from Keystone Business School to an event later this year, Anthony will be teaching our salons how to double your profits in 90 days.
Not just that, we are currently creating a media library of content and assets that each salon can use to better leverage their association with the brand to increase sales.
As a therapist you have a unique opportunity in an intimate setting with your client to discuss their beauty needs and offer solutions and recommendations based on your available products and services that you trust and are comfortable endorsing.
Utilising this time will not turn you into a cringe-worthy sales person but rather help you, the expert, to cultivate a better relationship with your client.
7 ways to quickly maximise your profit margins
1. Know your customer.
2. Know your products inside and out and learn which make you the most profit.
3. Always ask for positive online reviews (Google, Facebook etc…)
4. Encourage your customers to “check in” online when they are at the salon (Facebook, Instagram etc…) and use hashtags to group any online content.
5. Identify what complementary add ons can work with each product or service.
6. Use the art of conversation to see whether your customer has any gifting needs at that moment.
7. Never let customers leave without booking their next appointment.
Bronze Leaf tan is created with the finest organic ingredients. For more information on how you can become a salon partner contact Karen Walker on +44 779 323 300, [email protected]