With salon and spa bookings at a high level and continuing staffing challenges, it can be difficult to look beyond the day-to-day crush of operations to consider what the future looks like as we ease out of the pandemic. Now’s not the time to return to what you did in 2019. It’s time to focus on smart investments for your salon or spa to help you come back stronger than ever.
This checklist can provide you with the inspiration to grow your salon or spa and take it to the next level to help you attract clients. It might be time to consider the following investments:
- Facility upgrades: Refreshing paint, upgrading flooring, or even just swapping out artwork in your salon or spa can help create a beautiful space and make it feel like new.
- Addressing debt: As a spa or salon owner, chances are you may have accumulated some debt after the pandemic lockdowns. If you are carrying debt with a high interest rate, it’s worth seeing how you can consolidate these liabilities and identify a plan of action that will cost you less in the long run.
- Employee-related initiatives: With all the attention that the difficulty in staffing is getting across service industries, many spa and salon owners are considering their options to attract potential employees. Ongoing training is a great way to invest in your team at your spa or salon business. Perhaps a cash infusion would be useful to bring in highly regarded outside trainers for your technical departments.
- Equipment: Could your salon or spa business benefit from something new? Your team is reliant on their tools and equipment, and it might be time to take advantage of improvements since you last acquired these essential items.
- Technology upgrades: The pandemic boosted the use of technology for a variety of businesses across many industry segments in the salon and spa space, streamlining processes and enabling features such as contactless check-in and checkout. Many of these options are expected to continue, even as the pandemic winds down, due to popularity with consumers. Make sure you’re using salon software or spa software that is robust enough to support your business here. And even consider an AI receptionist.
- Starting something new: Consumers are more focused on their wellness than ever. Don’t miss out on the chance to try offering a new service or treatment to your clientele at your spa or salon business.
- Retail and e-commerce: Your clientele are also more interested in their personal wellness and care and are anxious to put more effort into their appearance after being stuck at home for so long. Perhaps this is also the right time for you to invest in your e-commerce platform by purchasing additional product backstock or software systems that help you increase profit from the 24/7 income generated from online sales.
- Short-term cash flow boost: Some parts of the year are slower than others. Your spa or salon business may benefit from capital that you can put toward payroll or other obligations.