Salon owners make a note of this - what is not taught in the classrooms!
Few things you learn in the classroom as theoretical knowledge. Few things while you perform as practical knowledge.
But you learn a few things only after you become a salon owner once you set up your salon & take up the responsibility.
Let us look at the top 9 things you learn as a salon owner.
It's All About People.
Managing people is not as easy as it looks. Here you have to deal & manage many different kinds of people.
Everyone is unique, from your clients who give you business to your staff who provides those services and your beauty products suppliers. All come from different varied backgrounds & have another way of working, understanding & doing things. You learn this while you deal with people at your salon.
There is no formal training you can take that will teach you how to deal with people. What & how do you communicate to your clients, staff members, or vendors.
Managing them, building conversations, relations, etc., all come with practice, which means it's an on-job training; you learn as you deal with them regularly.
Growth Takes Time.
Suppose you thought that the beginning is the most challenging task & once you start, everything else will move on smoothly & quickly. Then you will realize the reality soon after your salon starts its business. The fact is the early time - initial months years are pretty critical for the business & building it takes time. Growth is not easy or one-time work. It's a small progress story, built step by step.
You must have patience, from your brand name to your business, to see it grow.
It's not Just About Salary.
Providing a high salary will attract great talent & retain them. If you thought this statement to be true, you are wrong. It's not always the money that attracts. Especially nowadays with the increase in work-life balance, growth, learning, development, work environment, freedom of communication, etc., people look for apart from money, these things hold equal (& some times more) importance.
So if you thought increasing the salary frequently without paying attention to other details would keep your team motivated & work for you, then burst your thought balloon.
You will soon realize that productivity, retention, creativity, growth, etc., goes way ahead of salary influence.
Every Day is a Learning Day.
As the beauty industry is constantly changing & upgrading. One can not stop learning. Unfortunately or fortunately, there's no book published yet that has a complete proof plan of running a salon & being the best salon owner ever. Because it's all dynamic, there is a continuous change in the trends, people, needs, demands, etc. Therefore, enjoy the learning process.
Also, the learning is not just for you but for your employees too. Educating them about the latest trends & happening is the best investment you can make for them and your salon. It increases the quality standards & gets the clients coming back to you.
Savings is Always a Good Option.
Your first act after making all the payments & fulfilling all obligations should be to save some amount.
Create an account where you deposit some X amount regularly. And you would be surprised how this amount could help you in times of emergency, growth, etc. Make it a habit to save enough to have an emergency fund that could cover unexpected expenses, 3 -6 months of payments, etc. You would be amazed to see these savings become a savior in time of need.
Maintaining your stock.
Avoid overstocking beauty products - for salon use and retail sale purposes.
Don't buy too many products at once; the bulk order placements would sound tempting with huge discounts. Yes, it's an excellent option to be ready with the stocks, but not overready. But it could risk you too much idle stock left at the stack. These are expensive & come with an expiry date; remember this before placing your order. Therefore purchase in reasonable quantities, keeping in mind various factors like your salon footfall, your demands, previous sales, product shelf life, etc. You could use this money to invest in other growth areas in your salon.
Profits Take Time.
Money, in the beginning, you may feel like one minute it comes & another minute it goes away. Because there are a lot of first-time costs, payments, etc.,
So even if you earn well, the money goes out to meet your financial commitments. It takes time to start seeing profits.
So if you think your balance sheet will have a profit column with a huge figure since the first one of business, then be ready to be disappointed.
You think earning enough money & being profitable is the only goal. You will realize within the first month that not all things can be equated with money or profits alone.
Customer Service is the Key.
Not only are they the source of your regular business but also a source of bringing in new clients through referrals.
If your service game is on point, you deliver more than expected & delight them in the process; you will surely get them wanting to come back to your salon the next time. Build relationship
No one size fits all; just like that, no same solution works for all concerns.
Every citation differs from client to client, staff to staff which needs an entirely different solution.
So you learn in the process. It's a learning process. Sometimes you learn a lesson; sometimes, you discover your best trick. Anyway, it helps you grow as an owner.
And in the end, it's all worth it. This will help you build your salon & make you a pro at everything.