SURVIVING THE BUDGET

AS OPERATIONAL COSTS CONTINUE TO RISE, MANY IN THE BARBERING INDUSTRY ARE FINDING NEW WAYS TO GENERATE ADDITIONAL REVENUE STREAMS

BOBBY GORDON, OWNER OF FELLA

“You need to know what the shop needs to take each hour it’s open in order to survive. Base the prices on facts, not what the competition down the road are charging.

We’re also making sure we’re well connected with our client base. Getting them to subscribe to our newsletter has proven to be a great way of marketing -remember, it’s not always about social media. Working with the local community is another way of hitting the right crowd. We have connected with local businesses to promote each other which has brought new faces to the shops. Our shop in Soho has started to host comedy nights at weekends and we have other evening events planned which, all going well, will bring in some extra income after hours. This last budget has been tough on small businesses so we need to be prepared and ready for it.”

MAX AND OLIVER, OWNERS OF MAXOLIVER

“We’re looking at cutting costs where we can, for example, ordering the products we know sell well, reducing our selection of refreshments and making sure we’re on the best energy tariffs. Incentivising your team to sell more products and getting your graduate stylists through their training so they can start charging more, is a great way to increase income as well as looking at prices - make sure you’re charging what you’re worth but it’s also important for us to make sure the shop is on top form in terms of cleanliness, professionalism, salon/self presentation. Everyone is in the same boat but we will all get through this difficult time! It will ultimately make us stronger business owners for the future and when things are more stable again, we will have a more refined business we can enjoy!”

JIM SHAW, OWNER OF TONI&GUY BILLERICAY

“As soon as the budget was announced, we looked at ways to safeguard what we can. We will be clamping down on maintaining the salon as a team, making sure there is less waste of products, that we are running the salon as efficiently as possible, reducing time-wasting or underproductivity and ensuring we all come together to make things work. For many salon owners, this will be a difficult change. My advice would be to plan financially for this. Being efficient and creating a plan will allow you to be ready for when these changes are put in place. Build amazing relationships with your clients - when they enjoy their time in the salon, price increases will not have a huge impact on loyal clients. Focus on your goals and motivate your team, creating a positive atmosphere will make for a strong business.”

CHARLES ROSE, OWNER, CRATE CHESHIRE

“As a team, we now ensure to talk about products earlier on in consultations and show client ways to use these products at home to get the most out of them. When clients are looking to book an appointment, we are making sure to offer add-on services to help them make the most out of each appointment. This way, we are doing the little things that enhance the client’s experience but also help to keep the business strong.”

IAN HARROLD, OWNER OF ATTITUDE MENS HAIR

“First and foremost don’t panic and don’t listen to all the noise. Depending on the size of your company some of the changes may not affect you, so do your homework and make sure you are aware of all of the facts.

It’s a good idea to take stock of your company, team and business. I recommend taking a day at the end of each quarter and seeing how you stack up to your targets. Being proactive rather than reactive is always the best option. When it comes to pricing, the worst thing you can do is look at the shop down the road or what your friends are doing in other cities. Each business will have completely different overheads and other internal and external factors that will influence their pricing strategy.”