Posted on 2016-03-30 by Admin
It’s a statistic that up to 80% of all new small businesses fail within the first 18 months. Why? There are many reasons including financing issues, poor planning and mismanagement, and outside market conditions. Does this mean your salon and spa is doomed to fail? Of course not! Knowing the common mistakes and failures can help you avoid them when starting up and making your salon thrive. Pay attention and learn from some of these common failures: Failure to anticipate and keep up with technology and competition: This is a big one in our opinion. Things are changing all the time but it’s easy to overlook the competition or the latest technology when you’re so busy starting up and maintaining a new salon. With the SalonClouds+ app, it makes it easy to stay ahead of your competition with technology and to keep your clients both coming back and telling their friends. Not understanding your market: When you start, you need to do a complete market analysis of your market, your clientele, and your customers buying habits. You cannot adequately cater to the correct crown without knowing whom you are targeting in the first place. Decide up front, if you are going to be known as the cheapest salon or the best salon in your area. You cannot be both! Poor cash reserves: Count on at least a six-month cash reserve to help carry you thru the start-up until your revenue begins coming in. Failure in anticipating cash flow: You need to know which suppliers require payment up front since those can quickly reduce your cash reserves. Pay attention as well to time for reimbursement for anything sold on credit because not anticipating the months-long wait can seriously get you in a bind. Delegate early: We know it’s hard to delegate to trusted employees, especially early in the business. Don’t get caught up in the trap of micromanaging. You must be able to rely on those responsible staff members and your business systems including your mobile app. Starting up a salon and spa can be hard and seem impossible at times. The best planning and intentions aren’t going to make it easy from the start. Invest in the proper professionals to help you be successful in the long run. In addition, rely on the insights from those business owners that have found success before you. Learn from their mistakes and successes – it’ll only make you that much wiser with your own venture. When you’re ready to take your salon and spa to the next leve, at SalonClouds+ we’re ready to help. Stay ahead of the competition and keep your clients engaged with a mobile app. If you aren’t yet using the SalonCloudsPlus app, email for a free demo of our system. You can email email@example.com or check out the website at www.SalonCloudsPlus.com.