4 Strategies That Will Double Your Income
Morgan Franklin: Welcome to the
Aspiring Stylists Podcast with
Tracey Franklin. Where to begin,
grow and aspire to become the
best stylist you can be. Whether
you're thinking about becoming a
stylist opening a salon, or
developing your skills as an
experienced stylist the next
step of your beauty career
starts here. Each week we'll
discuss strategic ways to
design, plan and execute on
becoming a stylist that excels
behind the chair and above the
bottom line. Here's your host,
Tracey Franklin.
Tracey Franklin: Let's be honest
with each other for a minute,
you didn't get into the beauty
industry to work seven days a
week, never eat lunch,
constantly have a mild backache
and hardly ever have enough
money to make your car payment
and your booth rent. This week,
we're talking about how to live
in abundance as a stylist and
how to find financial stability
and growth. When I think about
the times, I've experienced
massive growth in my career, it
always revolves around learning
a new skill. Sometimes that
means a new technical skill. And
sometimes that means a good
business or marketing class. You
have to know how to deliver
great results to your clients.
But you also need to know how to
effectively communicate with
your current guests and how to
market yourself to new ones.
Knowing what metrics to look for
for growth was something I knew
nothing about. But knowing what
to look for what numbers mean,
and when it's time to raise your
prices are all incredibly
important skills to have. Until
I knew how to analyze the
numbers growth was a guessing
game and one I was losing it.
Let's discuss the importance of
mastering and diversifying your
technical skills. Let's go back
a few decades to create bond
highlights we pulled hair
through a cap. Now in case
you're unfamiliar, we used to
have a plastic cap that we would
pull super tight over the top of
someone's head. And then we
would take something that looked
like a crochet needle. And we
would poke holes in these caps,
books, some of the natural hair
and pull it through that hole,
then we would apply Lightner.
And that, my friends is how we
used to highlight hair in the
dinosaur age. Then I learned
something called foiling and it
opened up a whole new world of
coloring hair for me. So now I'm
able to offer custom results
adding multiple colors into the
hair in one sitting. And it
definitely made me feel more
like an artist, you know, unless
like oh, this is just something
very robotic that I'm doing. It
really allowed me to bring
actual creativity into the world
of hair coloring. Fast forward.
And now I'm offering Bali asure
another super pivotal moment in
my career as a colorist, you
know, not a lot of people were
doing these things when I
brought them to the salon. So I
learned and started creating
this lived in color, and became
really, really popular for it.
And as you can probably guess,
with each one of these new skill
sets, I'm able to charge more
and more and more for my time.
I'm charging for the technique,
the fancier tools I'm using and
for all the additional color I'm
using to add in the dimension.
So it's definitely more money in
my pocket. I say this on every
episode, education is non
negotiable, and it's everywhere.
get online, get on a plane, do
whatever, but never stop
learning. So as you can probably
guess it's super important to
grow a loyal client base and to
build one that actually trusts
you and wants to buy from you.
So how do you create a loyal
client, you create it through
trust, a client is loyal to a
stylist that shows up on time.
They're loyal to a client that
they enjoy spending time with,
and that can execute great
service using great products. A
client is also loyal to a
stylist that brings fresh ideas
to the chair and recommend
services and products that make
their life easier and improve
their self image. So let's talk
about what losing a retained
client costs you. Did you know
that it costs you five times as
much to acquire a new client
than it does to keep one that
you already have happy. That's
five reasons right there to show
up strong for the clients who
are loyal to you. Let's talk
about the concept of upselling.
Everyone has heard of the term
upselling or add ons. In my
salon We call those professional
recommendations. It's important
that we look at those as service
enhancements as opposed to
something we are trying to sell.
I feel an obligation to my
clients. I mean if I offer a
service that will make their
color more beautiful or their
hair shinier or healthier. I'm
going to make sure they know it.
Then they can decide whether or
not to get it I'm only
responsible for recommending it.
And when I look at it through
that lens, it feels different.
And trust me, it feels different
to your clients as well.
Sometimes we need to figure out
ways to diversify our income.
And sometimes that need turns
into something really fun and
different. There came a time in
my career that I decided to step
away from the salon on Saturdays
to do on site hair. I had
clients that for different
reasons needed me to travel. I
had a client with special needs
that I visited for many years.
And I also did styling events
and trade shows. And then I
started traveling to do weddings
on location, which honestly I
really enjoyed. The money was
incredible. I mean, people were
really willing to pay good money
for the convenience of having me
come to them. So I've discussed
several strategies that helped
me double my income. And at the
end of the day, you have to
figure out which ones are going
to work best for you. The only
thing you can't do is nothing.
So keep learning, keep evolving,
and keep growing.
Morgan Franklin: Thank you for
joining us on this episode of
The Aspiring Stylist Podcast
with Tracey Franklin. If you
enjoyed listening and you want
to hear more, make sure you
subscribe on Apple Podcast,
Spotify or wherever you find
your podcasts. The Aspiring
Stylist Podcast with Tracey
Franklin is a Morgan Franklin
Production. Today's episode was
written and produced by Morgan
Franklin editing and n by Mike
Franklin.Want to find out more
about Tracey and the Aspiring
Barber and Beauty Academy go to
aspirebarberandbeauty.com
