Salon owners need their customers to come back, and they need them to spend up big. But how can that work if clients are watching their pennies, and those pennies don’t extend to beauty treatments?
Buy now, pay later
The popularity of buy-now-pay-later providers has exploded in Australia over the past five years, with the most popular being Zip, Afterpay, and specifically for salons – Salon Pay. The credit-based payment method ensures that the salon owner gets paid immediately, with all risk sitting with the credit provider. “By paying the services off in instalments over a number of weeks, the customer is able to maintain their treatments and purchases with the salon, and the salon gets the boost in cashflow that they otherwise may have missed out on,” says retail analyst Ciara McDonald. “There’s also a stronger likelihood of the customer carrying out repeat purchases. In tis climate, salon owners really need to help their customers out, and a payment system is the least risky to the business owner.”
Gift cards are one of the quickest ways to get funds coming in. Yes, you’ll need to provide the service or treatment at a later date, but you get paid first, which is going to be helpful to your immediate cash flow.
“Offering customers as deal whereby they get a discount of they buy a bundle of gift cards can work well,” says Ciara. “With Christmas coming up, if you suggest that someone can do all their shopping by buying all the people int heir life a gift card from your salon, you’ll be on your way to getting a cash injection.”
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