When Is It Time To Expand?
There are three progressions to a business with the goal being a business that runs independent and turns profits whether the owner chooses to be there or not.
The reason you want to have a business that is mature is simply for resale value, expansion or just to have the quality of life you desire.
Listed below you will find the characteristics that best describe each level of business.
You in the infancy stage of your salon business if this is you: Busiest technician in your Salon Operating System Have no difficulties building your own client base Are at ease with selling retail Pre booking your clients and you are in demand Completing the managerial tasks on your own Managing the team independently You implement the marketing strategies single handedly You are getting burned out with trying to do it all on your own You in the adolescent stage of your salon business if this is you: You now have front desk staff You have a salon team You have recognized that you need more structure in your business to create team unity You may have hired and trained new technicians to have them quit and take clients with them You have commission or booth renters that aren't on the "same page" New hires aren't busy quick enough You would like to expand or open a new location You want to step away from your technician role but are struggling on how to do it A business that is in the mature stage looks like this: The mature business runs independent of the salon owner The team knows their roles and expectations and there are systems in place There is consistency between all that serve and in the clients experience This business owner experiences momentum and profits The focus is now on how will it be done rather than what needs to be done They continually evaluate what they can do to ensure that the business will operate without them The salon owner is free to work if and when they choose and knows that the salon will still turn profits The challenge most salon and spa owners find themselves in is during the adolescent stage when it may seem easier to get small again.
Often times they feel like no one will get it anyway and it was much easier when it was just themselves they had to worry about.
Now to some degree this is true and it may be a reasonable solution.
But if you truly understand that the only difference between growing and getting small is the implementation of a solid business structure the choice becomes one of logic rather than emotion.
The good news is that once the decision is made and the systems are in place to support the growth, all the owner has to do is monitor the systems and watch the business mature.
The reason you want to have a business that is mature is simply for resale value, expansion or just to have the quality of life you desire.
Listed below you will find the characteristics that best describe each level of business.
You in the infancy stage of your salon business if this is you: Busiest technician in your Salon Operating System Have no difficulties building your own client base Are at ease with selling retail Pre booking your clients and you are in demand Completing the managerial tasks on your own Managing the team independently You implement the marketing strategies single handedly You are getting burned out with trying to do it all on your own You in the adolescent stage of your salon business if this is you: You now have front desk staff You have a salon team You have recognized that you need more structure in your business to create team unity You may have hired and trained new technicians to have them quit and take clients with them You have commission or booth renters that aren't on the "same page" New hires aren't busy quick enough You would like to expand or open a new location You want to step away from your technician role but are struggling on how to do it A business that is in the mature stage looks like this: The mature business runs independent of the salon owner The team knows their roles and expectations and there are systems in place There is consistency between all that serve and in the clients experience This business owner experiences momentum and profits The focus is now on how will it be done rather than what needs to be done They continually evaluate what they can do to ensure that the business will operate without them The salon owner is free to work if and when they choose and knows that the salon will still turn profits The challenge most salon and spa owners find themselves in is during the adolescent stage when it may seem easier to get small again.
Often times they feel like no one will get it anyway and it was much easier when it was just themselves they had to worry about.
Now to some degree this is true and it may be a reasonable solution.
But if you truly understand that the only difference between growing and getting small is the implementation of a solid business structure the choice becomes one of logic rather than emotion.
The good news is that once the decision is made and the systems are in place to support the growth, all the owner has to do is monitor the systems and watch the business mature.
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