Hairdressers Journal
Hairdressers Journal



Profit – what profit?

There’s little point in having a business if it doesn’t make a profit. Profit is the reward for having your own business, as it gives you the lifestyle you want and deserve from putting up with all the stress. However, sometimes you have to accept you won’t make a profit every year and this could be one of those years. If that’s the case for you, accept it and focus on how the numbers will work going forward, as that’s what will give you your future profit. It will also help you to offset against this year’s losses.

Reforecast your numbers for the next phase

It’s crucial to reforecast your figures and check that everything adds up in the medium term as otherwise you will just be getting yourself into debt.

Negotiate with your landlord

The Government Code of Practice for Commercial Landlords sets out how landlords should be trying to help businesses during the pandemic. Use this as a basis to negotiate points like rent-free periods, reduced rent or to agree on a new lease on more favourable terms. With many shops starting to become empty, landlords will be increasingly keen to keep a viable tenant, albeit at a lower rent. Have a good look at your lease and see what powers you might have.

Cut out any non-essential costs

This means you need to be brutal when it comes to cost savings. Anything that isn’t absolutely essential for the running of your business needs to be cut. Only you can decide what you think is essential as this will be unique to every business. If it can’t be cut completely – can it be cut back?

Use relevant government support

There are many different types of government support schemes available which are changing all the time. Make sure you keep abreast of the changes and take advantage of any new support offered. You may have resisted taking a Bounce Back or Coronavirus Business Interruption Loan so far, but depending on your forecasts, it might be the right thing to get you through the next difficult phase.

Review and manage your client conversations

Strategies brought in to manage the first lockdown and first post-lockdown rush now need to be adjusted to manage the next phase. Many salons switched off their promotions and some automated email and texts to remind clients to book in on their cycle. Consider reintroducing these messages ahead of Christmas. Similarly, look at what messages your team are delivering to clients to ensure they match. Ask the team if their conversations are creating opportunities or reinforcing doom and gloom?

Design a new vision to suit changing habits

It’s hard to see the future at the moment but people are willing to support those who try. Salon owners who can offer a vision to suit a client’s new wants and needs will come out stronger. 

Ryan Fox is a consultant for the hair and beauty industry. If you would like to fi nd out how Ryan could help you and your business go to


This article appears in the December 2020 Issue of Hairdressers Journal

More from this issue

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Offering a personalised service is more important than ever, and being able to explain why a particular cut will suit an individual client’s face shape will set you apart from your competitors. HJ asks the experts to share the best hairstyles for each of your clients’ face shapes
The tips and tricks from the industry on creating this season’s must-have ice cool shades
Team effort
HJ speaks to staff management experts about getting the best from your team and keeping spirits high during these turbulent times
Watch and learn in 2021
Whether in-person or virtual, there are plenty of key dates and education events to help keep you ahead of the game in 2021. Diaries at the ready… 
Conversations on COLOUR with… Sophia Hilton
The Not Another Salon founder and Crazy Color ambassador explains why she doesn’t believe in trends, the moment she felt truly confident as a colourist and why she’s currently obsessed with front face panels

This article appears in the December 2020 Issue of Hairdressers Journal