Five Simple Strategies for Boosting Revenue

There are more ways than ever before to enjoy a lucrative career as a hairstylist. From building out a specific niche to making your product game work for you, being smart about how you run your business can mean big dollars for the savvy solopreneur. So what can you do to put more money in your pocket at the end of every week? Here are five ideas. 

Add-on Services

Set yourself a weekly financial goal for add-on services only. Then look at your book in the morning and figure out which clients might enjoy a little extra luxury. From a very necessary deep conditioning treatment to a transformative eyebrow wax, there are plenty of opportunities to expand services for your client while they are in your chair. 

Retail

We consider this free money. Every client needs products to maintain their look, especially for chemical treatments. While the client is in the chair, introduce what you’re using on their hair to make the experience both personal and educational. The more product interaction during the service, the less that it will feel like a sale at the end. Many product companies reward high-selling stylists with free back bar, so it’s a win-win for you. 

Gift Cards

Many clients might not think to support you by buying gift cards for family and friends, so don’t be shy in reminding them. Gift cards are a great way to boost your revenue and they also serve as an introduction to new potential customers. Roughly 20% of gift cards aren’t ever redeemed, but the money goes into your pocket as soon as they are purchased, so you get paid no matter what. 

Back Bar

The way stylists interact with their back bar is highly personal. Some measure out products while others go for a freestyle approach. The more you control the amount of product you use, the more money you’ll save, not to mention you’ll reduce your environmental impact. It’s important to remember that saving money is making money too. 

Pricing

How stylists charge is a very hot topic right now and for good reason. The industry has always been priced by service, but many people are now starting to charge by the hour instead. Because clients' hair and needs are so different and with products costing more, analyzing your pricing structure might be a smart move. You want to ensure that you’re being paid your worth and not giving anything away. 

Regardless of your strategy, make sure you’re not leaving anything on the table. Analyze your numbers regularly to identify opportunities that will enable you to boost your revenue and grow your business. Work smarter, not harder, and always remember to take care of yourself in mind, body, and spirit. 

Talia Horta is the co-founder of BriAry Salon Suites, a collection of boutique luxury spaces designed specifically for beauty business owners. BriAry Salon Suites offers rentals as well as business mentoring and coaching to help stylists, aestheticians, and technicians navigate the world of entrepreneurship. www.briarysalonsuites.com