Did you know that most small business salons don't make it past 2 years, successfully? We sat down with James Gartner and Adam Swanlund, Salon Today-Top 200 Salon owners, to find out why. They gave us some insight to their success and how to help those who are in or interested in salon business.
“When we first began our salon adventure, we had little to no knowledge about the salon business. I was a traveling Hair Artist for a major brand with a love for the craft. I quickly realized salon ownership needed a bit more than love,” laughed James.
The truth is they weren't on the payroll for the first two years in business and learned many lessons along the way. “Going into business with the mentality of growth, nurturing and discovery creates a thriving profitable salon,” explains Adam.
James and Adam discovered they needed to track their expenses. Outside of payroll and rent, professional salon products were the biggest expense.
This discovery was through a simple profit & loss statement. “When we started tracking our expenses, we learned and grew,” said James. Click this link to get your free profit and loss statement template. We recommend that you start tracking your expenses and analyze what needs to be adjusted.
“The first thing we realized is that we had to have a better way to purchase our salon goods. The old school distributors were charging 4x the cost of product,” James exclaimed. “We wanted to buy direct but this is just not the way things were in the industry.”
The pair saw the gap and sought to fill it. As a result Beauty Innovations Pro was born with Balay Powder being its first baby. The brand was so well received from the salon community, that they created many more products. Today, thousands of savvy stylists and salon owners buy their products direct. “We have helped salons and stylists save money and increase their profitability. We are proud to be providing salons with the best available products & value in this industry,” said Adam.
For instance, we offer quality feather bristle color brushes close to two and a half dollars cheaper compared to the big distributing companies.Used by some of the top colorists abroad. Salon tested to work as well as ©FRAMAR - Classic coloring brush (Framar is a registered trademark of Framar International) With our Balay Powder additive you cut down on the cost of an additional clay-based lightener and a set of dedicated developer which, saves money & makes it easier to manage inventory.
Bottom line is to stay motivated, track your expenses, and buy direct to cut down costs. Oh, and remember to enjoy the ride.