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Simple ways to save money and stay productive in your salon

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Your salon is like your baby. You want your employees to be happy and to always give your customers the service they deserve, in the safest environment possible. However, if you find that you are spending too much money to maintain this quality in your salon, you may be unintentionally throwing it away. Here are several ways you can save on your salon’s services without it becoming a detriment to your business.

Utilise all of your Stock

Once you have purchased the correct amount of a particular product, you can effectively keep an eye on how much is being used within your facility – and make more precise stock audits, going forward. The last thing you want is to buy the correct amount, but then find your employees are using too much or too little of it. This means that the products are not being utilised to improve your service – but worse still – there could be the chance that the service not being performed effectively.

Find the best insurance option for you

Insuring your salon is a legal necessity if you have employees. The minimum public liability insurance local authorities normally request is that all businesses are insured for up to five million pounds of damages. For your salon it can be worth looking at the full range of options, with providers such as Salon Gold online providing specialised, tailored packages that suit a variety of large, small and independent businesses.

Create Effective Deals

If you are looking to implement an effective way of saving money whilst drawing in new customers, you need to truly consider your discounts and loyalty offers. Whilst you shouldn’t use too many of these to inspire your customers to visit you, you can keep your workers on their toes if you use them effectively through social media. Instead of splashing out on a hefty advertisement campaign, sign up for free social media platforms, like Instagram and Twitter, and use images to entice new customers to follow your accounts. Not only will you be saving on your own advertising campaigns and making money with new customers, but you will actually manage to sell more of your older products ifyour customers are made aware that they are getting a good deal out of it.

Big Spenders

When it comes to picking out your stock, it can be tempting to buy more than what you actually need. After all, a bigger bulk comes with discount and potential VAT-free offers, which can be useful if the product itself is popular with its customers. However, buying in bulk can also mean paying more tax – and that money could be used to purchase other products or equipment, or even improving the conditions of your work place! By being rigorous with your expectations and estimates, when it comes to stock, you can make sure you’re only spending the money you really need to.

Bank Charges

Whatever your salon’s size, you need to have a business bank account to take in your profits. Make sure that your bank is not charging you too much for having an account with them. If this is the case, it is extremely easy to change your bank account or kick up enough of a fuss to have the charges reduced. Some will even allow you to join for free, like the Co-op if you are a member of the Federation of Small Businesses.