In this podcast, we will be having a discussion on some of the challenges beauty and hair businesses face due to seasonal changes and explore strategies to monetise this downtime.

You are leaving cash on the table….

Key takeaways

#1 Monetise your free times 

For most business owners, it's common to experience fluctuations in their workload, with some months being busier than others. The key here is to capitalise on the seasons when your business isn't bustling with clients. During these quieter periods, you have an opportunity to make productive use of your time, don't let it go to waste. 

#2 Retail products 

If you have a loyal customer base, they are likely to purchase retail products from you because they already trust your brand. Retail products can be a great way to keep customers engaged during slower periods. Offering them new and relevant products can rekindle their interest and bring them back to your business and this not only leads to retail sales but can also result in repeat business for your core services.

#3 Think outside the box

Thinking outside the box is a fundamental concept in entrepreneurship and offers nothing but good as it encourages innovation, creativity, and a fresh approach to problem-solving. For instance, if you are a salon owner working in the beauty industry and you've been facing seasonal fluctuations where the demand for haircuts and beauty treatments tends to decline during certain times of the year, you could do some creative thinking and create a salon subscription service that offers customers a fixed number of visits or services each month for a set fee or do seasonal themed pop-up events to ensure some sales during that time period. 

Time Stamps

0:45-5:19

Here Katie shares some very useful ways in which you can monetise the more relaxed, free days your business sees including reaching out to customers who haven't purchased in some time, offering gift vouchers, and carefully attracting clients during this time to ensure revenue generation and sales. 

5:42-12:07

Have clients who trust you? Make some cash through retail. Katie walks us through the value of retail for businesses with a client base, for instance as a salon owner you can always keep some retail beauty products to sell and profit from. She also shares some valuable advice on how to decide the kind of retail products that can work well with what you are already offering and how to sell retail products effectively. 

18:07-19:23

Make sure to stay active on your socials and work on your email marketing as well to attract clients. Remember it is currently November and everyone is buying gifts for their loved ones and your presence on social media will determine whether they buy these gifts from you or a competitor. 

Quotes

●      “Think of retail as free money.”

●      “Just because we can't afford something, doesn't mean someone else can't either.” 

 Follow Katie over at www.instagram.com/kg_katiegodfrey

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