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Declining Economy or Maturing Market?

In my view the economic downturn is not the cause of many salon owners decline in growth or even in some cases their reduction in income. The causes are much closer to home which is positive news because it means salon owners are in control of their salons performance.  

I agree the industry is experiencing tougher times than in previous years but in my opinion it is because our industry is evolving. We have enjoyed years of increasing demand in our services as the nation has become increasingly image conscious. Young men and women are styling and colouring their hair from a younger age and carrying on doing so for longer...you don’t see many grannies with white hair anymore!

As a result there has been a huge boom in the number of salons, giving customers a wide variety of salons to choose from. What we are seeing now are customers looking around searching for the right salon so they can justify and confirm in their own minds they have made the right decision in choosing you.

The good news is that customers are still spending their “disposable” income on their image, it is just that the competition has become more fierce for that income. So all you need to do to attract a loyal customer base is to be better than your competition!

That doesn't just mean all you need to do is look around at what your competition are doing, copy it and add a few extra services, because being the best doesn’t work like that. To be the best you have to understand what is right for your customers and offer that. For example setting up a Blow Dry Bar or Nail Bar might be a huge success in someone else’s salon but it doesn’t mean it will be in yours!

Please contact me to discuss some of the things that might suit your salon and help it remain one of the best in the industry.