Hair & Barbers
The hair, beauty and barber market has become saturated. Barriers to entry are low and high street rents and fitout costs are dropping as retail is decimated on the high street – resulting in more and more barber, hair and beauty salons opening. Millennials have also driven a resurgent appreciation for the humble barber shop, both increasing opportunities and changing the face of the sector in other ways.
Economics 101 says that an increase in supply (i.e. salons and barber shops) results in a decrease in demand (i.e. more choice means less customers split between more salons and barber shops). It also means that the customer has enormous choice now. That’s a great thing for a customer, but it makes the business life of a salon or barber shop much harder. This choice is compounded by the results of a recent survey Reigate Business Advisory conducted with 50 people chosen at random. The results showed that that less than half were satisfied with their last haircut and 80% had changed their hair dresser in the past 18 months.
All of this means the traditional way of doing business in the hair and beauty sector is dead. Are you and your business prepared?
Reigate Business Advisory is a unique Accounting Firm and Business Advisory specialising in helping businesses grow and thrive.
We can give you the tools and systems you need to increase your profits, attract and retain staff and become financially sustainable.
The service we offer is comprehensive and unique. We will help your business to become more profitable with:
- Specialist analysis of your business pressures, stress points and opportunities
- Implementing systems to consistently deliver better service and customer satisfaction
- Business planning, market placement and segmentation
- Financial management tools that drive profit
- Traditional, social, online, viral and specialist marketing
- Management and operational structures, and
- Attracting and retaining high quality teams.
We provide strategic advice, practical tools and management support to barbers and hair & beauty salons.
If your business becomes more sophisticated in all of these complicated areas, you will:
- Drive revenue growth and increase profit
- Win awards
- Increase return customers
- Become more competitive
- Reduce staff turnover
- Cut costs, and
- Eventually spend less time working at your business.
Contact us for a free consultation. This is your opportunity to discuss your plans and challenges, free of charge, with an experienced business advisers.