How to cut costs in your business

by | 30 Dec 2022

Salon owner and education director at WELOVE, Jackie Harrington, shares her first-hand insight on how to curb the outgoings without increasing prices 

“With customers continuing to be affected by the current rise in cost of living, I decided that rather than increasing my prices I would look inwardly and see where I could work more effectively. I quickly realised that there were several small changes that could help to significantly reduce my costs.  

We play music in the salon and had to pay for the PRS PPL licences, but we now just play royalty free music instead, cutting the total costs of bills by £170 a year.  

Unsplash salon colouring

I’ve also changed our magazine subscriptions so that instead of receiving a few printed copies each month for clients to read, we now have online subscriptions for them to browse through in the salon, which is saving us £480 a year. 

Looking at what colour line you use is also important. I swapped to a range with only 47 colours and four developers – which hasn’t impacted what I can offer – as I’m still able to achieve everything that I could with my old range. Previously, this involved stocking over 160 different colours, so I’m saving over £8,000 a year.   

I’ve also changed the make of coffee that is served to customers, reducing costs by £192 annually. I also made the decision to change the customer booking system, as the company I was with had raised its price by over 40 per cent. By shopping around, I found company that could offer my customers the same great service, but with a saving of £850 a year. 

Unsplash salon

When you take the time to start really focusing on your business, you will be amazed at just how much money you let drift away. Taking that small amount of time once a week to concentrate on the facts and figures really enables you to make small changes that add up to one massive change.  

If you haven’t already done the maths, it all adds up to a massive £9,692 a year, and the biggest saving was clearly colour. It’s amazing how much money we all let sit on our shelves! 

These changes have helped me to feel confident about moving forward into an uncertain time in our economy. It’s not just helping my business, but also my loyal clientele who won’t see a price increase on their bill.” 

See more from Jackie >

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