How To Grow Your Hair and Beauty Business in 2021

Whether your business is thriving or under pressure, it’s always a good idea to review your operations and adapt to the changing environment. Here are some key strategies you can implement in your hair and beauty business to manage uncertainties, keep your community safe, and strengthen your market position.

1. Adapt Mindfully

Diversification is essential in any business. During the pandemic, certain businesses thrived because they offered essential goods or operated in specific ways. Consider how you can diversify your salon offerings while staying true to your brand. For example, if you typically offer grooming services, you could introduce essential product lines that complement your business, such as hand sanitizers or face masks. Additionally, consider expanding into e-commerce, offering mobile services for vulnerable clients, or providing home visits.

2. Be Aware of Shifting Needs

Customer needs have changed, and it’s important to recognize this shift. For example, during lockdowns, some clients may have learned to do their own nails. Instead of losing these clients, you could offer DIY kits with new products and monthly online tutorials. Subscription-based services for at-home beauty routines could allow you to reach a wider audience and build loyalty by showing that you understand and respond to your customers' evolving needs.

3. Boost Your Online Business Strategies

The hair and beauty industry is ideal for social media engagement. Even if customers are not visiting your store due to safety concerns or financial difficulties, maintaining a strong online presence will keep your business top of mind. Engage your audience with exciting and consistent content. Consider cross-selling strategies, where you encourage customers to purchase higher-priced items or complementary services. Also, regularly remind your online followers about the safety protocols in your store to reassure them of your proactive measures.

4. Reassess Your Expenses

In challenging times, every dollar counts. Review your business expenses and identify areas where you can cut costs, either temporarily or permanently. Look at regular costs like cleaning, utilities, insurance, and advertising. Engage with your suppliers to see if they are offering any discounts or fee reductions due to the pandemic. Also, consider your staffing needs carefully and make adjustments if necessary, while keeping in mind that you’ll want a well-trained, loyal team when business returns to normal.

5. Maintain a Safe Working Environment

While pandemic fatigue may set in, safety procedures cannot afford to slip. As a business owner, it’s your responsibility to ensure a safe and sanitized working environment for both staff and customers. This might include a work-from-home policy for certain employees, rotating floor staff, regular cleaning, consistent testing, contact tracing, and ongoing safety training.

6. Explore Your Financial Resources

Many of these strategies require investment. Fortunately, there are alternative finance options designed specifically for salon owners. For example, a Merchant Capital cash advance can provide working capital in under 48 hours, with flexible repayment structures tied to your business turnover. This enables you to invest in your salon’s growth even in uncertain times.

The Bottom Line

If 2020 taught you anything, it’s that you can adapt and thrive, no matter what challenges arise. The key to success is staying informed, keeping track of regulations, and always looking for growth opportunities. With these strategies in place, your hair and beauty salon won’t just survive, it will thrive, even in uncertain times.

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