The salon business – why only 5% will ever make serious money – an example By salonhowto.com – Call Us Now On 618 9443 9327

The salon business - why only 5% will ever make serious money - an example By salonhowto.com - Call Us Now On 618 9443 9327The salon business – why only 5% will ever make serious money – an example By salonhowto.com – Call Us Now On 618 9443 9327

It’s a depressingly common theme; starry-eyed hair stylist or beauty therapist wakes up one morning and declares

“I’m a really excellent stylist/therapist, I’m going to open/buy my own business!”

And that’s where the trouble begins. Sooner rather than later, the reality that being in business is so NOT about being good at what you do hits like an oncoming train, and the wheels begin falling off.

And the reality is this: study after study, over many decades, has shown conclusively that only about 5% of salon and spa owners will achieve the dream of owning a successful business that provides them with a substantial, reliable and long-term income, one that keeps coming in month after month whether they work ‘in’ the business or not.

And the primary reason for this is simple: 95% of hair and beauty industry business owners hang out their shingle

a) without having educated themselves about what it takes to make a business successful, and

b) failing to understand the intensity of energy, action and focus required.

And yet…and yet, owning and running your own well-managed business is by far the most reliable path to financial independence. (Well, apart from marrying it or inheriting it.)

Buying shares (on the stock market)  in other people’s businesses will not do it. Over the long term, after you deduct inflation, fees and charges, commissions etc, it’s actually less than 5% per year.

Buying property requires cashflow. And the only way you’re going to get cashflow is…yep, your own business.

Now, there’s nothing you can do to change the 5%/95% success/failure statistics. The only choice you have is which of these two groups you’re going to be in.

And making that choice requires intensity and focus. The difference between success and being an also-ran is cigarette-paper thin.

(Water and steam can both be at the same temperature, 100 degrees celsius. But it takes extra energy to turn that water into steam.)

Which is a long-winded way of introducing you to a real-life case study of a salon owner who is destined to be successful.

The salon business - why only 5% will ever make serious money - an example By salonhowto.com - Call Us Now On 618 9443 9327

Salon owner Elaine Robins – discovering the immense power of ACTION and focus in her business.

Just one week ago, Elaine Robins of MA Cutting Crew in Bondi Junction, New South Wales, received her Essential Salon Owner’s Marketing Toolkit after being accepted into the Inner Circle marketing & mentoring program.

As she writes in this excited email, focus and concentrated action can produce instant results.

“Hi Greg,
Well I got my Toolkit and I didn’t know where to start ! Thankfully whilst I was waiting for it, I had been on the website and adopted some clever ideas implemented by other members.
So – in 10 days I have done the following:
1) New 3-fold price lists, showing poplular packages so people don’t have to do sums at the desk !  Things like full head foils with style cut and blowdry etc.  These are being printed today.
2) The Buy One Get One Free offer – I have a large window poster to put up in a week’s time and have had my vouchers printed. Also 1500 leaflets printed (thought these could go out end of November)
3) $325 worth of hair treatments for only $120. (pinched this off your website !!) Had a poster done for the window, 1500 leaflets printed (to be mailed this week) and WAIT FOR IT – I decided to send out about 40 SMS to clients who had not been in for 8 weeks.  Within 4 minutes, I had 3 bookings !!!. I am made up just with those 3 bookings!
4) All customers are being given a $15 voucher (nicely done) as they leave to either redeem later or give to a friend.
I have a poster in the window for free vouchers, but no-one has popped in for one yet, so I may re-think that and just give them out to people who come in. These are valid until the end of January.
5) I am also going to do the Christmas lucky dip basket which one of your members suggested. I have all my vouchers printed!
So – I am motivated and am very pleased with the initial response. I don’t have a customer database, so am working on developing something in Access to help me.
Checked out the local two newspapers (Wentworth Courier and The Beast) for advertising rates – they are horrendously expensive at about $800 – $1200 for just a 1/4 page and I have missed the deadline for the December issue of the Beast, so I am going to put something together to advertise for “Dead January” Any Ideas?? Ha ha.
Thank you so much for your easy to read, eye-opener information. I hope I go from strength to strength. I have to watch my spending but hope to flood the area with irresistable offers eventually, when I have the capital to advertise in publications.
Kind Regards
Elaine Robins