In the planning stages of your new business, remember to carve out space to showcase your valuable retail products. No matter if you are a small, single person suite or an employer of more than 30 – retail can rock your bottom line.
Many new businesses get hung up on the style, colors, and the shiny, pretty things that you, your staff, and clients get to feast your eyes on. That’s great, but don’t overlook your retail space.
Having the right products available, the proper display, and an educated staff will bring you wonderful monetary rewards. Many business owners purchase the things they like and use, but don’t spend the time to ask their staff how they feel about these items. If your staff aren’t on-board, your retail sales will suffer.
What Products to Retail
If you are a full-service salon, make an appointment with your supplier/ vendor to see what products are up-and-coming in the industry. Get a good idea of what the fashion and beauty industry are raving about. Get samples from your vendors to let your staff play with, and let them experiment with these products. If your staff are on-board, you will have a much better chance of moving those products off your shelves.
Use a bit of caution here. You and your staff will get excited about a product, but that doesn’t mean you need to put the whole line in your business. Some vendors will get you started with a small “package”.
Start there, and find the products that your team will recommend to their clients. Having too many lines can make for confusion, and cause your vendors to feel like they are competing for your business. This can result in the vendors coming around less and less. Take some time to get your team involved. You will reap the rewards of retail sales.
Here is a quick idea of what you should carry for a full-service salon:
- Shampoo and conditioners
- Hair mask
- Leave in treatments
- Styling products, etc
You should offer these items for retail because you are using these products and tools on your clients in the salon. It will be easier to replicate the look you created for them with the same products and tools that you used.
- Head bands
- Hair clips, combs and brushes
Lash and Brow Products
If you are a lash/ brow salon, then you have different items to retail. I would have available things like:
- Lash/brow cleanser
- Mascara and wands
- Micro brushes
- Makeup remover
You could also consider a line of cosmetics that are lash/ brow safe… My vendor (whom I love) carries lash-safe makeup items. Don’t forget to add a nice selection of strip lashes and adhesive to your display…
Unfortunately, at times, we have to remove lashes from our clients. What better way to transition them from extensions to their own lashes, than with a nice set of strip lashes to go home in!
Just recently, I had a few clients remove their lash extensions, and I put them directly in the strips. It was a game-changer to see them leave happy. I will miss my clients, but I brought them joy, and I earned a little extra revenue by having the strip lashes available for them to walk out with on their eyes.
Make it Beautiful
When planning your salon space and considering your retail products, you will want to think about how you are going to present your fabulous products. This is an important consideration, as it can seriously up your sales. You don’t want your products hiding out of plain sight. You want them visible, loud, and proud – right where your customer goes to check out!
Point of Purchase (POP) displays are eye-catching. They also keep your products tidy and organized. Tempt your clients with alluring and bold displays – then reel them in with a discount or sale! This is all at your discretion, and you can play around with different offers to find out what works best for you and your clients.
Keeping Your Staff Motivated
Many salon/ spa owners make comments about their staff not wanting to “sell” products. I can understand this mindset. Stylists, lash artists, and brow experts do not want to be salespeople. Now, when they say that, what they really mean is, they do not financially benefit from product sales. So, it’s your responsibility to re-educate your team for their benefit, and your bottom line.
Some businesses offer their staff a small percentage of the retail sales. A few dollars per product doesn’t seem like much in small increments, but at the end of the week, month and year, your staff can see real results.
Doing The Math
With a simple 10% commission on retail products, your staff can add $1000 and up to their annual income. Many products come in at a $20 price point. If your staff member retails two products per shift, they earn four dollars. Now that doesn’t seem like very much for a day, but as we move forward let’s see what that four dollars can add up to:
$4 x 5 days = $20 weekly
$20 weekly x 50 weeks (we all need a vacation) = $1000. Hmm.. There is your vacation money!
This is easy, folks! When you go to sit down with your staff, give them pointers on how to present these take home products to their clients with a seamless approach. They will gain the confidence to “recommend” – as opposed to simply “sell.” Just a little confidence in the product, some coaching with the approach, and a firm close, and in no time you can have a very successful retail program.
Your Earning Potential
Just for grins, let’s see what you as the business owner can generate from just one staff member, or yourself – if you work alone – in one year with the very same formula I used above:
If you have a $20 product, and the cost to you is $10, you pay out $2 to your staff. So, that leaves you with eight dollars.
$8 x 5 days = $40
$40 weekly x 50 weeks (remember that vacation) = $2000.
Just think how much you could be earning if you had several staff members retailing like this – you would have a nice, little cushion of revenue. If you have rock star retailers, you can pay your monthly rent!
Satisfying Your Clients Needs
Remember, the more your clients are engaged in your salon/ spa, the more revenue you generate. Statistically speaking, if you are only providing one service, your clients longevity is about one year. If you are providing multiple services, they will stay for one-and-a-half to two years. Now add retail to that equation, and those clients of yours will reward you with their unwavering loyalty!
Getting your retail space sorted, and your team motivated are very important steps in building and growing your new business. Let me know how it goes for you! And if you have any questions, please ask away – we love to hear from you 🙂