When business is booming, it can be simultaneously exciting and stressful. The individuals staffing your salon reception desk may feel perpetually overwhelmed, especially if the phone is always ringing and people on the other end of the line can hardly wait to schedule an appointment. If that kind of pace keeps up consistently, you may need to open a new location. However, making that decision represents a huge leap, and it requires financial and personnel resources too. Answering the questions below could help you prepare for a potential expansion.
Is There a Geographic Area of Unmet Need?
One of the hardest parts of choosing whether or not to open a new studio is deciding where such an establishment would be located. For help, start keeping track of client addresses when they call in to schedule an appointment. If you notice many of them hail from a particular nearby town, that’s good encouragement for seeing if a studio space is vacant in that community, and whether you can buy hairdressing salon furniture to fill it.
Are There Meaningful Patterns?
In some cases, it might feel like your studio got busier overnight, whilst in others, you can pinpoint specific factors that caused the rise in demand.
Firstly, it’s important to understand why business is so good at the moment, and even more crucially, whether it’s likely to stay that way. If you get a large number of new customers soon after hiring a new stylist that came to you with a great reputation for working magic behind salon workstations, it may simply be that person’s presence causing the increased demand.
Business may also start to get better after introducing new complementary services such as manicures or hair salon supplies available to purchase near the front door. Once you take a closer look at why the business is doing well, it should be easier to determine whether now is the time to open a new location.
Can You Afford It?
For obvious reasons, this could be the most important question of all. Besides having room in your budget to cover the cost of things like hair salon equipment for sale, don’t overlook things like employee salaries and money required for training stylists.
Deciding if it’s appropriate to expand isn’t usually simple. However, thinking carefully about the questions above could provide the guidance you need. Use them today before making any major decisions about the future of your business.