With the cost of out-goings ever increasing, it can be difficult to ensure you keep your profit margins up. One way of doing this is to raise your prices to clients however this is quite risky, are your clients loyal enough to pay more for your services or will they go elsewhere? There is a less risky way of increasing profit margins and that’s to reduce your outgoings. Here are ten ways to spend less without compromising on the quality of the services you offer:
- Wash any salon towels on economy cycle – the economy cycle on your washing machine is shorter than many of the other cycles and uses less electricity so by switching your wash cycle you will reduce your electricity bill.
- Swap bottled water for tap water – if you offer your clients bottled water, this can be replaced with jugs of tap water to reduce costs. Add slices of lemon or lime to make it a little more elegant whilst still spending less.
- Make a shopping list – before you visit the beauty supply shop or your wholesaler, make a list. This will ensure that you only buy what you need instead of all those little extras.
- Utilise social media sites – reduce the cost of your advertising outgoings by utilising social media sites like Facebook and Twitter instead.
- Invest in energy saving lightbulbs – switch your regular light bulbs for energy saving ones and you’ll end up with a lower electricity bill. You might also want to put your lights on a timer, especially if you usually leave the lights on after you leave for the day – does anyone really need to see into your salon from midnight until 6am on weekdays?
- Cut your magazine subscriptions – these can mount up over time so instead look for copies of magazines on freecycle or borrow up to date magazines from your library either free of charge or for a small lending fee – much cheaper than subscriptions.
- Make your own cleaning products – cleaning products can prove very expensive but often you can save money by making your own. Plus as these contain less chemicals, you can help save the environment too.
- Cut satellite subscription – if you have satellite TV in your salon for your llients to watch, ensure your package only contains a minimal number of channels. Alternatively, cut subscription altogether and stream free to download music videos from the internet instead.
- Skip the refreshments – most salons don’t offer hot drinks to clients, instead they offer just water. This will cut down on energy consumption and reduce your shopping bill too.
- Ditch the landline – most phone companies offering landline services charge for line rental and call charges. By getting a mobile (or utilising your existing one), you can reduce these costs and offer a better booking service for clients through text messaging.
