subject: How To Make Money In A Beauty Salon [print this page] Beauty Salons are generally considered to be lifestyle businesss, and this is largely true. However, there are some who approach the industry with real entrepreneurial flair and grow their business into more than just a way of generating enough to buy the latest mid market soft top with pink seats.
Some canny and clever people see opportunity where others see shopping trolley cars and an extra holiday to Benidorm each year. Some see the opportunity to make serious cash and do well out of it.
So, how can you turn a corner shop coffee & chat nail booth into a money making powerhouse ?
Simple really, get the right equipment and penetrate a market that makes more per square foot in income than any other beauty treatment out there. I am talking IPL treatments. But, hold on, there is a way of tapping into a huge fringe market that no-one, and I mean no-one has yet to exploit, but is worth millions in any currency.
IPL machines range in price and quality, but dont get sucked into expensive contracts with the Branded products as there are plenty of smaller vendors with quality machines available at reasonable rates. However, this article is not about the different machines, nor is it just about offering the single biggest income earner that you can offer, it is about being smarter and better than your competition can or will.
Heres how. Lets assume you have just taken delivery of you smart new machine and having been trained to use it, you are bristling with enthusiasm and expectation. Now, once you start advertising and leafleting every office block within your catchment area you will start to get bookings. But what I want to do is show you how to fill your diary completely and make 1000s per week.
IPL type courses are the best money earner and there is plenty of data on the web and on competitors sites to show you what prices to charge. Pick a price menu that suits your area and then drop a little but not too much. Now, there is a demographic out there that wants your service but cannot afford 1200 for the course of facial hair removal. Not only can they not afford the price it is also highly unlikely, especially in times of recession, that they would get a loan to pay for it.
This is your advantage. What you do is simply this. You offer your own payment plan similar to the following.
Lets assume the course is 1200 . You offer a scheme that is worded to say Guaranteed 100% acceptance instalment plan. And No credit check Guaranteed acceptance for all clients The idea is to tap the market that desperately wants your product, but cant get it. The payment plan goes like this.
300 deposit followed by 9 monthly payments of 100.
In month 1 you will get 400. You get the rest over the next 8 months by direct debit, or instalments on their credit card. Lets assume for a moment that some people, for arguments sake 30% dont pay in month 2. So what ? You did 6 half hour treatments for 400. Thats an amazing 133 per hour, so who cares if they dont pay anymore. IF they do, and most will because you can tempt them with other amazing treatments under the same instalment plan.
By the way, I say 6 half hour treatments because you schedule the last 2 to be in the second month, after you have taken their 1st months payment. They will always pay whilst you are treating them but it also means you wont wast any time on those who dont pay.
If you are really, really canny and want to capture even more market, offer a similar deal that low earners and benefit recipients can afford. Same deposit, but 50 per month in instalments. Yes, its longer to get the money, but thats not the point, we are mainly after the 350-400 here, the rest is bonus if they pay all the way.
Look, IPL type treatments are notoriously expensive and that is why the treatment makes so much money. The perception by the mass of your potential market is that they could never afford it. If you show them that they can, they will flock to your door. This plan takes IPL treatments out of the reach of the rich and upper middle class, and lets anyone access it for an affordable amount. You dont need to worry about whether they will clear credit checking, because there is none.
You have the security of a large deposit and at least one payment. The question is of course, can you make 133 per hour doing nails, massage, facials, bikini waxes etc ? I doubt it.
