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Making your business go ‘kerching’! Cambridge salon owner Claire Finn went to one of the NHF’s ‘how to make your salon more profitable’ events in February. Now her retail sales are up 50 per cent. Coincidence? She thinks not. Finn Jordan is a hair and beauty salon in the heart of Cambridge, operating out of two private rooms. We’ve been an NHF member for the past five years and, as a Claire Finn is owner business, have of Finn Jordan in been growing Cambridge quite quickly in recent years. About three years ago, I expanded the business by buying a beauty salon, as I was keen for it to have another arm beyond hairdressing. I’ve always felt it’s important to try and stay on top of the business and financial side of things but, as the business has grown, this has become even more the case. You can’t just sit back and rely on your hairdressing skills to bring you success; you need to have business skills and knowledge too. So when I saw the NHF’s programme of business events it immediately seemed like a good idea to go along. I was very glad I did. I found the two trainers, Richard Wallace and Chris Amos, very inspiring. They were so passionate about the industry, but also really honest about where we often go wrong as an industry. It was just good to spend a day in the company of two really successful businessmen.
New ideas
I came away with a load of new ideas and practical tips about how to do things a bit differently. An important one has been to get the team more involved in the financial side of the business. I don’t mean sitting down and helping with the accounts, just me being more open and communicating more about how that side of the business works. So I’m explaining more how things like VAT work, how much it costs just to open the doors, what it takes to run a business – so the team now has a much better idea of the whole picture of the business rather than just their little bit. Another change has been around
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retail. Retail has always been an important part of the business, and it was something we were focusing on and reviewing anyway, but I’m now being much more structured about setting retail targets. Staff have a much clearer idea about what their targets are and what is expected of them. We’ve always had weekly review meetings but I make a point now of planning them much more in advance – it used to be that I sometimes only started to think about them 10 minutes before, but that’s not the case now!
It’s great to pick up tips from other salon owners and, vice versa, to be able to pass on any advice you may have. It’s also, I think, just good from time to time to get out of the salon and go somewhere new, soak up a new atmosphere. Overall, I definitely think going to business-related events (whether the NHF programme or more generally) can be really beneficial. After all, being successful is not just about being a good hairdresser; it’s about being a good salon owner too, which is a very different skill.
Retail rising
Year-on-year our retail sales were up nearly 50 per cent in February, which is astonishing and, of course, really pleasing. Obviously, not all of that is down to going to one business event – it’s been a big focus for us for at least the last year – but showing how important it is, keeping on top of the figures and being clear about targets and expectations has, I think, really helped. Employees are paid commission for their retail sales, so there is a natural incentive there. But what’s been important is getting them to believe more in the value of what they’re doing, and to believe in the product they are selling. It’s given me a lot more confidence to get the team involved and has helped me to identify areas where staff members could do with a bit of extra training. It just feels like it’s changed the culture of the salon and the way the team interacts.
Getting out of the salon
Another benefit was simply in getting out and meeting other salon owners. One piece of advice I’d offer here is to consider going to an event that’s a little way away from where you’re located. The event I went to was in Norwich – one of the “How to make your salon more profitable” events – and most of the other salon owners were as a result from Norwich, and many knew each other already. But I found it was actually refreshing to be among people I didn’t know and to find out about what issues they have in their businesses and how they’re dealing with things.
The NHF’s programme of business events is covering three topics: • Delivering a great client experience • How to make your salon more profitable • Managing yourself and your team A full listing of the rest of this year’s events can be found on Events, page 33. Anyone interested in attending these should contact NHF on 0845 345 6500 or email events@nhf.info