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Ride out the economic storm
Date Added: 2009-06-30
Industry experts are encouraging salon owners to actively boost business, after the latest warnings from the Organisation for Economic Cooperation and Development (OECD) about the state of the UK economy.
Last week the OECD warned that the UK's economic recovery will be slow. Its short-term outlook for the UK economy to a contraction of -4.3% this year, worse than the government's forecast of -3.5%.
With unemployment expected to rise to 10%, salon owners are looking for new ways to cope with the current economic crisis.
According to Habia, there are around 36,000 salons in the UK. These businesses could be at risk from the downturn in the economy and the projected slow recovery. Industry experts are now urging salon owners to think of new ways to promote their business and retain customer loyalty.
Mark Wilson (left), who established Nexus Revolution, a consultancy for struggling salons, is working with business guru Julie Eldrett advising salons on how to become a profitable business again.
He said: "To ride out the current economic storm, salons should take advantage of the opportunities it is creating, namely competition. Clients are more willing to shop around to look for the best deal therefore creating more competition for salons. It is imperative for salons to train their team to a high standard of customer service, add value to their services and market and promote their strengths. This is a more positive message than discounting, which can often say a salon is struggling."
