#353 - Is it time to raise rent or change your salon strategy?

Thriving Stylist Podcast

Britt Seva

Stylist, Business, Hair, Hairstylist, Marketing, Salon, Careers, Businessbuilding

4.7 • 2K Ratings

🗓️ 16 September 2024

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a time where the cost of living is steadily increasing, salon owners face the challenging decision of whether to absorb rising expenses or pass them on to their booth renters. In this episode, we take a deep dive into a DM I received from a booth renter salon owner, as I break down her current pricing model and analyze whether raising the rent is the right move or if it’s time to consider a new salon strategy all together.

I can tell you that money alone won’t solve this challenge, but marketing and really looking at what it’s going to take to create a highly desirable space that people want to work in is going to be the solution here!

Do you have a question for me that you’d like answered in a future episode? A great way to do that is to head over to Apple Podcasts and leave a rating and review with your question. I'm looking forward to answering your question on a future episode on the podcast!

If you’re not already following us, @thethrivingstylist, what are you waiting for? This is where I share pro tips every single week, along with winning strategies, testimonials, and amazing breakthroughs from my audience. You’re not going to want to miss out on this.

Learn more at: https://thrivingstylist.com/podcast

Transcript

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0:00.0	Do you feel like you were meant to have a kick-ass career as a hair stylist?
0:06.0	Like you got into this industry to make big things happen?
0:09.0	Maybe you're struggling to build a solid base and want some stability.
0:12.0	Maybe you know social media is important,
0:14.4	but it feels like a waste of time because you aren't seeing any results.
0:17.6	Maybe you've already had some amazing success, but are craving more.
0:21.0	Maybe you're ready to truly enjoy the freedom and flexibility
0:24.4	this industry has to offer. Cutting and coloring skills will only get you so far,
0:29.0	but to build a lifelong career as a wealthy stylist, it takes business skills and a serious
0:34.1	marketing strategy. When you're ready to quit just working in your business and
0:37.9	start working on it, join us here where we share real success stories from
0:41.5	real stylists. I'm Brit Civa, social media and
0:44.4	marketing strategies just for hairstylists, and this is the Thriving Stylists
0:47.9	Podcast. What is up and welcome back to the thriving stylist podcast? I'm your host
0:54.7	Brit Siva and today we're going to talk about is it time to raise your
0:59.0	rent or change your salon strategy? I think this one is very timely because we are living
1:06.6	at this very interesting crossroads in the industry
1:09.2	where the cost of doing everything is going up, like the cost to buy a bottle of color is going up. The cost to rent your space is going up.
1:18.0	Whether you're a booth renter or a studio sweet owner or a salon owner, everything is just getting more expensive. Our utilities are more expensive, all the things. And so often, we as the business owner say, like, okay, well, listen, if the cost of me doing my business goes up, I can't just feed that cost.
1:34.3	Somebody else has to help me pay for it, right?
1:36.5	So even if you're an independent stylist
1:38.0	and you're listening to this,
	...

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