29. Budgeting for Growth: Strategies and Solutions for Salon Success
Description
In this episode of the Positive Image Podcast, Nicole and co-host Alicia dive deep into the critical topics of budgeting and navigating economic uncertainties in the salon industry. They discuss the importance of understanding your numbers to make informed business decisions and reflect on how changes in tariffs and exchange rates might impact salon operations. Nicole suggests exploring Canadian-made products as a potential solution to mitigate these challenges.
The conversation also highlights effective inventory management strategies, including reviewing past sales data, setting inventory limits, and using systems like the '6 plus one' ordering method. Nicole and Alicia share practical tips for creating realistic budgets and emphasize the value of tracking progress weekly to set achievable growth goals in retail sales and profit margins.
Whether you're a salon owner or stylist, this episode offers actionable insights to help you navigate financial challenges and build a more resilient, profitable business.
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Work with Alicia - alicia.lumsden.to@gmail.com
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