Working it from the Stage with James Mack
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Friday, June 5, 2009
Tuesday, May 12, 2009
The Power of the 'Bling'
We recently explored many different ways to increase our salon income by increasing the things that we retail on our "Why are You Leaving Money on the Table?" Club SuperStar Monthly Mentoring Call. Most of the call was focused on things outside of traditional 'hair care' items. Shampoos, conditioners and styling products are what you usually think of when you hear about 'retailing'. While there's nothing wrong with retailing those items, as we discussed, especially within the Black community, we don't shampoo or take care of our hair at home as much as other nationalities (it gives us a higher client visit ratio). But we do LOVE to buy lots of things!
What my Grandmother called "play-pretty's" - shiny, sparkly, dangly jewelry is universally exciting to women across the country and around the world. And guess what!?! While the average mark-up on hair care products is 100%, meaning if you buy a shampoo for $6.00 the retail price you would sell it for would be $12.00. You would make an additional $6.00 in gross profit, before deducting any other expenses such as commissions paid to others, shrinkage (covering one's that disappear:), shipping, discounts or any other costs associated with selling it. Not bad!
When you compare that with the mark-up on jewelry (and make-up and other high profit items) it's a no-brainer. The mark-up on jewelry may be 300% and up! Example: You buy a necklace at a wholesale price of $10.00, the retail price may be $30, $40 or more. Of course with this kind of mark-up, you have a little more flexibility to put them on sale, if they don't move quickly enough.
But if your clients are anything like ours at Fabulous Finishes, we could barely get in the door before just about everything we bought was SOLD OUT! Clients would place orders in advance, some would want to be notified in advance when things would arrive, so that they could get first pick! It's something that you don't have to 'sell', so if you're a little uneasy with your 'sales skills' this may be the perfect way to get started 'taking some of that money off the table' and starting to put it into your pocket!
There's a well documented trend, that when times 'get tough', people tend to focus on 'small luxuries' - those things that make them feel special, indulged, 'tickled', even! So, why not bring in a little 'bling' help your clients feel better!
Next time we’ll take a look at the many faces of the 'FEAR Monster' and how it keeps us from selling!
Keep reaching for the 'Stars,
Miki Wright, Salon Business Coach
http://www.beautysuperstars.com/
"When Beauty is your Business...
"Join me on my www.Facebook.com/MikiWright profile and fan page and if you www.Twitter.com/MikiWright, follow me, so I can follow you!
What my Grandmother called "play-pretty's" - shiny, sparkly, dangly jewelry is universally exciting to women across the country and around the world. And guess what!?! While the average mark-up on hair care products is 100%, meaning if you buy a shampoo for $6.00 the retail price you would sell it for would be $12.00. You would make an additional $6.00 in gross profit, before deducting any other expenses such as commissions paid to others, shrinkage (covering one's that disappear:), shipping, discounts or any other costs associated with selling it. Not bad!
When you compare that with the mark-up on jewelry (and make-up and other high profit items) it's a no-brainer. The mark-up on jewelry may be 300% and up! Example: You buy a necklace at a wholesale price of $10.00, the retail price may be $30, $40 or more. Of course with this kind of mark-up, you have a little more flexibility to put them on sale, if they don't move quickly enough.
But if your clients are anything like ours at Fabulous Finishes, we could barely get in the door before just about everything we bought was SOLD OUT! Clients would place orders in advance, some would want to be notified in advance when things would arrive, so that they could get first pick! It's something that you don't have to 'sell', so if you're a little uneasy with your 'sales skills' this may be the perfect way to get started 'taking some of that money off the table' and starting to put it into your pocket!
There's a well documented trend, that when times 'get tough', people tend to focus on 'small luxuries' - those things that make them feel special, indulged, 'tickled', even! So, why not bring in a little 'bling' help your clients feel better!
Next time we’ll take a look at the many faces of the 'FEAR Monster' and how it keeps us from selling!
Keep reaching for the 'Stars,
Miki Wright, Salon Business Coach
http://www.beautysuperstars.com/
"When Beauty is your Business...
"Join me on my www.Facebook.com/MikiWright profile and fan page and if you www.Twitter.com/MikiWright, follow me, so I can follow you!
Friday, April 10, 2009
The "Tickle" Factor
On our “Club SuperStar” Monthly Mentoring Call, “Are You Leaving Money on the Table and Why?” conference call this week EVERYONE admitted to buying something ‘extra’, that they hadn’t planned to buy. And as we explored the ‘why’ of it further, one of our Club Members said she bought it because it ‘tickled’ her! And, believe it or not, that’s really why we buy just about anything and everything we buy. All of us! Whether you think we buy based on logic, we really buy based on emotion! Big things like houses and cars – think ‘Aw, there’s a swing in the backyard for the kids’ or that ‘new car smell’. All the way down to the candy bar you ‘happen to’ pick up as you check out at the grocery store!
Big businesses know this and work it to the max. How can we make our salons ‘tickle’ our customers? One thing is realizing that the entire Salon experience is really a ‘sensual’ one – meaning it engages all (or a lot) of our clients senses. The ‘touch’ of a relaxing shampoo, the relaxing (or funky) décor they ‘see’ and the music they ‘hear’ when they come in, the ‘scent’ of the salon, whether it’s the fragrance of a candle or a smelly perm! Even getting to share and have fun with you adds (or subtracts) from their experience!
Another is to stock things that make them want to 'pick them up' or 'try them on'. In addition to hair care products and accessories, what about
Big businesses know this and work it to the max. How can we make our salons ‘tickle’ our customers? One thing is realizing that the entire Salon experience is really a ‘sensual’ one – meaning it engages all (or a lot) of our clients senses. The ‘touch’ of a relaxing shampoo, the relaxing (or funky) décor they ‘see’ and the music they ‘hear’ when they come in, the ‘scent’ of the salon, whether it’s the fragrance of a candle or a smelly perm! Even getting to share and have fun with you adds (or subtracts) from their experience!
Another is to stock things that make them want to 'pick them up' or 'try them on'. In addition to hair care products and accessories, what about
- candles
- lotions, body butters or oils
- foot scrubs or bath gels
Your clients may even enjoy special teas, chocolates and other ‘quick’ gift ideas, even breath mints! And, what about a little ‘bling’? Handbags, make-up, and I just heard ‘Romance Novels’ are selling off the shelf! Why not have a few for your clients to read under the dryer and have them available to buy, so they can finish the end of the story??? The list is endless and only limited by the things that your clients buy anyway! Ask them where they shop. Do they like candles and other fragrant items? Spend a little time to find out who they are and what they like. Bring in 'the Tickle Factor' and watch your business go ‘ka-ching’!
Next time we’ll explore 'The Power of the ‘Bling’ and other HIGH Profit items'!
Keep reaching for the 'Stars,
Miki Wright, Salon Business Coach http://www.beautysuperstars.com/
"When Beauty is your Business...
"Join me on my www.Facebook.com/MikiWright profile and fan page and if you www.Twitter.com/MikiWright, follow me, so I can follow you!
P.S. Be sure to join us as TORAIN shares ALL about "Buying Commercial Hair" on Monday, April 13th at 7:30pm EST Visit http://www.beautysuperstars.com/ "Where's Miki Wright" to sign up! It's only $39 (and you'll get a FREE MP3 download of the call!
Tuesday, April 7, 2009
It’s about more than Shampoo…
Last night we had a great Club SuperStar Monthly Mentoring Call on “Are you leaving MONEY on the table?” We discussed how retailing products in your salon or styling business can increase your income without necessarily increasing the amount of ‘work’ you do or how many clients you service. Retailing can be a very ‘loaded’ topic, so before we could dive right into how it could be a big plus that stylists and salons are missing out on, we had to clear a few things out of the way ! Namely, the reasons WHY we don’t do it or don’t feel like it can work for us. And last night we did just that. Over the next few blogs I’ll share some of what we covered. If this is an area that you and/or your team struggle with (or just want to improve), I suggest you consider listening to the entire ‘class’. It’s available on an MP3 Download for only $19.95, email me at miki@BeautySuperStars.com
One of the first things that we tackled was the question that’s in the back of just about everyone’s mind, “Will anyone buy?”, “In this economy, nobody’s spending, so this probably isn’t a good time to start”. We quickly dispelled that myth with a few questions that you can ask yourself, your friends, coworkers and clients.
- How would you rate the economy in your area? On a scale of 1-5 with 5 being the best “boom” time ever and 1 being the worst ever. Our Club SuperStar ‘veterans’ are so focused on their own business growth that they couldn’t say, but we landed at an average of a ‘3’.
- Have you been out to dinner in the last week or month? Everyone on the call had been out, some a couple of times and some had to wait to be seated – so they weren’t the only one’s eating out!
- Have you gone shopping to buy something in particular? Everyone on the call had, whether it was Grocery store, the Mall or a single store.
- Did you buy anything that wasn’t on your list or something you didn’t set out to buy? EVERYONE said yes! Stores are set up for you to see (and buy) ‘extra’ - and despite the news reports, people still are! The question is, are they buying from you?
So according to our informal poll, it’s an ideal time for retailing (as it always is)! And a great way to boost your income as some clients may stretch out their visits. Stay tuned for the next installment when we’ll explore The “Tickle” Factor, what does your client WANT (not need!) and what will she do to get it?
Miki Wright, Salon Business Coach
http://www.beautysuperstars.com/
"When Beauty is your Business..."
Join me on my www.Facebook.com/MikiWright profile and fan page
and if you www.Twitter.com/MikiWright, follow me, so I can follow you!
Thursday, April 2, 2009
One down, Three to go...
The time seems to fly by so quickly (they say it goes even faster as you get older – but I wouldn’t know – LOL). At any rate, the First Quarter of this year is done and over with!
How did you make out? Does it feel like an April Fool’s joke? Are you on track to reach your yearly goals? (There are only 3 quarters left in this year). Do you even know yet? Have you taken the time to go through your receipts? Do you have a daily or weekly tracking system to see how much your income was and what your expenses were? (If you already have the “Get More Clients, Make More Money, FAST! book or e-book, there’s a Tracking Form included in the back! If you don’t have the book, check it out at http://beautysuperstars.com/everystylist.aspx) Keeping track of my numbers is not one of my favorite things, but it can be very enlightening to actually know where you are. To see which services are most profitable; to see who are your ‘best clients, etc..
Sometimes life can just be one big blur, but we do need to take a little time to assess where we are and if our ladder is even leaning against the ‘right’ tree as we rush furiously up it, as fast as we can. I encourage you to take a little time to look at your business and make sure it’s taking you where you want to go.
If you’re not already, create a simple system to track your clients, how much they spend and on what. An ‘Envelope’ system is easy and inexpensive (and works whether you’re computerized or not). Create receipts for each client and keep an envelope to put them in, so even if you don’t record it daily, you’ll know where they all are at the end of the week. Label a separate envelope to keep up with what you spend in beauty supplies, equipment, assistants and any other business expense. (While you’re at it go ahead a label one for all 12 months.) It will make your (and your accountant’s) life much easier and allow you to see your business with greater accuracy. Let’s get this 2nd Quarter off to a great (and profitable and life enriching) start!
Miki Wright, Salon Business Coach
http://www.msplinks.com/MDFodHRwOi8vd3d3LkJlYXV0eVN1cGVyU3RhcnMuY29t
"When Beauty is your Business..."
Are you on Facebook or Twitter?
http://www.msplinks.com/MDFodHRwOi8vd3d3LkZhY2Vib29rLmNvbS9NaWtpV3JpZ2h0 is my profile and I also have a 'fan page' - Miki Wright - Salon Business Coach, "Where Beauty's 'SuperStars' Connect!"
Follow me at http://www.msplinks.com/MDFodHRwOi8vd3d3LlR3aXR0ZXIuY29tL01pa2lXcmlnaHQ=, so I can follow you!
How did you make out? Does it feel like an April Fool’s joke? Are you on track to reach your yearly goals? (There are only 3 quarters left in this year). Do you even know yet? Have you taken the time to go through your receipts? Do you have a daily or weekly tracking system to see how much your income was and what your expenses were? (If you already have the “Get More Clients, Make More Money, FAST! book or e-book, there’s a Tracking Form included in the back! If you don’t have the book, check it out at http://beautysuperstars.com/everystylist.aspx) Keeping track of my numbers is not one of my favorite things, but it can be very enlightening to actually know where you are. To see which services are most profitable; to see who are your ‘best clients, etc..
Sometimes life can just be one big blur, but we do need to take a little time to assess where we are and if our ladder is even leaning against the ‘right’ tree as we rush furiously up it, as fast as we can. I encourage you to take a little time to look at your business and make sure it’s taking you where you want to go.
If you’re not already, create a simple system to track your clients, how much they spend and on what. An ‘Envelope’ system is easy and inexpensive (and works whether you’re computerized or not). Create receipts for each client and keep an envelope to put them in, so even if you don’t record it daily, you’ll know where they all are at the end of the week. Label a separate envelope to keep up with what you spend in beauty supplies, equipment, assistants and any other business expense. (While you’re at it go ahead a label one for all 12 months.) It will make your (and your accountant’s) life much easier and allow you to see your business with greater accuracy. Let’s get this 2nd Quarter off to a great (and profitable and life enriching) start!
Miki Wright, Salon Business Coach
http://www.msplinks.com/MDFodHRwOi8vd3d3LkJlYXV0eVN1cGVyU3RhcnMuY29t
"When Beauty is your Business..."
Are you on Facebook or Twitter?
http://www.msplinks.com/MDFodHRwOi8vd3d3LkZhY2Vib29rLmNvbS9NaWtpV3JpZ2h0 is my profile and I also have a 'fan page' - Miki Wright - Salon Business Coach, "Where Beauty's 'SuperStars' Connect!"
Follow me at http://www.msplinks.com/MDFodHRwOi8vd3d3LlR3aXR0ZXIuY29tL01pa2lXcmlnaHQ=, so I can follow you!
Tuesday, March 31, 2009
To be a Star...
Recently, I was going through my house ‘decluttering’ and came across a stack of postcards that I’ve saved through the years because of the sayings on them. One of them was just perfect since I have since started www.BeautySuperStars.com!
I’ll share it with you, just in case you need a lift! (Feel free to revisit it whenever you need to)
It says:
“To be a Star, you must shine your own light,
follow your own path,
and don’t worry about the darkness
for that is when Stars shine brightest!”
I don't know who the author is, but it is the truth.
Have an incredible day and keep reaching for the 'Stars,
Miki Wright, Salon Business Coach
www.BeautySuperStars.com
"When Beauty is your Business..."
I’ll share it with you, just in case you need a lift! (Feel free to revisit it whenever you need to)
It says:
“To be a Star, you must shine your own light,
follow your own path,
and don’t worry about the darkness
for that is when Stars shine brightest!”
I don't know who the author is, but it is the truth.
Have an incredible day and keep reaching for the 'Stars,
Miki Wright, Salon Business Coach
www.BeautySuperStars.com
"When Beauty is your Business..."
Sunday, March 29, 2009
The Vogue with the Michelle Obama cover rocks!
I would've bought this issue because of the cover alone, to have our First Lady's first Vogue cover as a keepsake, but I wondered if it was a good issue. And boy is it! It's off the chain, the fashions, the hair, even the ads - from cover to cover it's an awesome issue. As you know the fashions change twice a year - and, of course, so does the hair! In a few weeks I'll be teaching my 'Fabulous Finishes' class at the Richmond Training Camp with Educator and Colorist, Chuck Caple. So in preparation for the class, I'm gathering the latest 'trends'. As far as the fashions, they are much more feminine and figure flattering. Not too tight and not so 'boxy'. Of course the hair has to complement the fashion. As I see it, there are 5 major hair trends. How many are you using and sharing with your clients?
1) Bangs - They create a strong look and there is
2) Geometric shapes
3) Solid color - Highlights are 'dead'. There is dimension in the solid colors that we're seeing, but I think the economy has many clients rethinking the expense of traditional highlights and the designers are following suit.
4) Romantic styles - the hair, just like the fashions, is much more feminine. It's soft, pretty touchable and a little more 'styled' than in seasons past. Understanding curl placement is back in style!
5) Strong sophisticated updo's
1) Bangs - They create a strong look and there is
2) Geometric shapes
3) Solid color - Highlights are 'dead'. There is dimension in the solid colors that we're seeing, but I think the economy has many clients rethinking the expense of traditional highlights and the designers are following suit.
4) Romantic styles - the hair, just like the fashions, is much more feminine. It's soft, pretty touchable and a little more 'styled' than in seasons past. Understanding curl placement is back in style!
5) Strong sophisticated updo's
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