True luck happens when opportunity meets preparation. This is definitely your opportunity, because when salons re-open you will have an influx of clients, the like of which you will never have experienced previously. Are you ready?....
Economic downturns bring both challenges and opportunities. Let’s deal with the challenges now and move forward towards finding the opportunities.
Steps to being ready to re-open and significantly boosting your business:
1. Refocused efforts towards recovery.
2020 is a different world now. No matter what you had planned for your business for 2020 – it probably needs to change. Be ready to adapt and accept these changes. Every time there are massive universal shifts, there are also opportunities. You need to be looking for the opportunities right now.
2. Access your current financial situation.
Now is the time to think about where to reduce your salon’s running costs. Get your financial housekeeping in order, as it will stand to your peace of mind over the coming weeks and it will enable you to be a lot more focused on the numbers when business resumes. You will also be re-opening with a very clear understanding of how much money is required to get the business back on track financially.
3. Identify any support or assistance you may be entitled to?
Remember ‘Cash is King’. Secure your credit and extra cash now to sustain your business, as you are probably going to need an extension of credit to be able to fund your business during this time.
4. Keep staff informed.
Your team morale will likely be down with market uncertainty, so you must communicate with your team members regularly. You will want to motor through the business recovery time as quickly as possible, and will need all team members on board with both your short term and long term salon goals. Everybody in the business has to believe their livelihood is based on the quality of the services they deliver and products you are selling.
5. Set priorities, timelines and recovery operations.
Start thinking about your salon’s financial potential in relation to occupancy and productivity. Allocate time to review salon reports and identify where your business could have been doing better, and plan to accomplish this on re-opening. Have long term recovery plans ready, as you will have an influx of clients once your door opens, but make sure all those clients are so impressed they are in for the long haul with you, thereby guaranteeing you a steady financial recovery path.
6. Ensure clients are made well aware of your re-opening.
Shift your marketing now to showing interest and support in your clients. Stay on their radar so when you announce you are re-opening, they haven’t forgotten about you.
7. Ensure suppliers are made aware of your recovery process.
Factor your suppliers into your recovery plan. They may be very willing to assist with brand events and promotions.
8. Look at all the options that may enable the business to retain staff.
Be ready for 100 % occupancy, thereby securing all salon positions.
9. Analyse the potential demand for your services and products post crisis.
Review your client’s individual history and have a tailor made plan ready to present and sell to them. Plan to have adequate resources (staff, finances, stock) to bring the business up to normal operating levels.
Seize the day – this will be about the survival of the fittest.
Think like a 21st century entrepreneur. Ideas are great, but results are what’s needed – thinking up ideas is not all that difficult. However, the 21st century entrepreneur not only comes up with great ideas, they act on them and take the lead.
Times are changing, however, everything goes in cycles and so will the economy. Look at your business: how you manage and drive it. Nothing is missing, it’s all just changing. Changing times help salon owners to explore the structures within their business and more importantly how they will secure new business in the future.
Clients will want your salon to return to business as usual as quickly as possible, so let’s get this show on the road!