Elevating Business at ISBN
Owners of multiple-location salons gathered in Florida to network, share ideas and learn.
by Stacey Soble
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SEARCHMENUSEARCHOwners of multiple-location salons gathered in Florida to network, share ideas and learn.
Between making less and receiving fewer and smaller raises and benefits, inflation is impacting the female workforce much harder than their male counterparts, according to a recent study.
Economist Dr. Alan Beaulieu predicts an economic slowdown in 2019, which will impact salon sales, but foresees it picking up again toward the end of 2020.
WHILE THE RECESSION had salons around the country taking a look at existing clients with new eyes and appreciating them just a little bit more, nowhere was that more true than in Saginaw, Michigan.
As any small business owner will agree, the changes that our economy has been through in the past few years have been challenging at best. Tightening our entrepreneurial belts has been an unfortunate fact of business life in order to weather the downturn. Some say things are turning around and we're on our way back up. Did we learn anything from the experience? Was there a silver lining?
As I was traveling to the International SalonSpa Business Network in Amelia Island, Florida, this week, I took a moment to identify seven mid-year trends that will continue to impact the beauty industry in the near future. As you begin your planning for the end of 2011 and into 2012, keep these top trends in mind:
2009 will be remembered as the year the rules of business changed. The year began with the economy in the throws of the worst global recession on record. Business leaders were being pummeled by one ugly piece of economic news after another. Unemployment was soaring, financial institutions were crashing, automakers were on life support, and the government was doling out bailout and stimulous money like Halloween candy. Simply put, consumers and businesses alike initiated a lock-down on spending.
You are doing business in the new economy. What does that mean for salon owners this holiday season? Well, it's not business as usual. If your holiday plans are the same as last year, you might not see the growth you need to survive. Yes, there are positive signs to the end of the recession, but the recovery will not be swift or easy.
I recently polled the community of top salon and spa owners about how they are trimming their expenses without affecting the quality of their services. Here's what they had to say:
The national economic downturn and resulting credit crunch has undoubtedly had an impact on the professional beauty industry. It has affected most salon owners with a decline of their salon business and profits. Other salon owners, who’ve viewed this as an opportunity, have been impacted in a positive way.