How To Recession Proof Your Business
You probably don't love talking about finances — who does? But it's so important to have a few easy ways to keep your beauty business up and running during slower times. Many industries have been struggling over the last few years, and we want to do all we can to help our fellow beauty pros stay afloat!
Let's get into our top tips to recession proof your business and rise above the pack!
Recession Business Ideas For Your Lash, Nail Or Beauty Salon
Diversify Your Services
While you don't need to do it all, providing more services at your business is a great way to stay relevant during hard times. Maybe lashes just aren't bringing in as much revenue as they were a few months ago — no worries, because as a lash artist you can also offer services such as lash lifts, brow lams, waxing, or even skincare! For our nail techs, consider adding in pedis, additional massages, or even hand or feet treatments.
Clients would much rather keep going back to the same, trusted place for all of their beauty needs instead of finding a new person each time. Keep this in mind when brainstorming new ways to bring in more revenue!
Steady Prices and Sales
It's important to price your work in a way that reflects your experience, time, and professionalism. Don't be afraid to keep your prices at that level, even in slower economies.
However, you can also treat your clients to sales and discounts that will keep them coming back for more! Consider creating a package that includes multiple services at a discounted rate or even a free service after coming in a certain amount of times. Clients love to feel appreciated and are much more likely to return to someone that values them as well.
Customer Service
Another way to show your appreciation for your clients is to treat them to exceptional customer service. Whether it's just you dealing with clients or you have a team, clients should feel that they are being heard and taken care of, especially with luxury beauty services.
Make sure to respond to inquiries promptly, take complaints seriously, and do what you can (within reason) to make your client's visit amazing!
Marketing
To keep your business afloat, you need to keep spreading the word about all of your services! Your marketing tactics should be directed and specific, focusing on just the services you offer and your daily life. If you want more lash clients, post more of your lashing pictures and videos! These should be professional, clear, and labeled with the exact lash style done.
This doesn’t have to be anything super fancy — even just having something on your Instagram story everyday. Maybe you take a cute photo of your morning coffee before heading into work! People love to support people, rather than businesses. So show off your personality and see how positively people respond!
Education
Here at PLA, we love promoting education. We are an academy, after all!
There’s always more to learn about your industry and staying on top of the best practices and new trends will help you remain relevant. Attending conferences provides you with opportunities to network with and learn from other beauty professionals. Also, expenses related to work conferences and events can usually be written off on your taxes!
You can also take nail or lash classes, whether they are online or in-person. We are so proud to offer our in-person Classic & Volume course at PLA Headquarters! If you can't attend an in-person class, online courses are just as valuable. If you're interested, check out our online Classic & Volume course as well!
How To Prepare Your Business For A Recession: The PLA Way!
There are tons of ways to protect your beauty business, even throughout rough economies. Offering a wide range of services, focusing on customer loyalty and marketing, and continuing your education will all help your business succeed.
We here at PLA wish you all the best of luck!