ROI of Different Services Offered by Luxury Salons and Day Spas
Originally posted on https://www.cryoinnovations.com/blog/2019/7/25/roi-of-different-services-offered-by-luxury-salons-and-day-spas
Running a successful luxury salon or popular day spa requires business acumen and an eye for the latest services that customers are seeking. How do you offer your customers something they don’t know they want yet? You can create the best in services for your day spa customers, if you do a bit of investigation on what really works for your bottom line and how to successfully grow your spa business without strapping your wallet. Making investments in the latest trends can pay off in a big way, if you are willing to do a little ‘out of the box’ thinking when you do your marketing.
Creating Premiere Salon and Day Spa Services
Investing in service products such as simple UV nail dryers to accommodate clients and speed up wait times, can increase the bottom line of your salon. The latest equipment and technology advancements in haircut and style chairs and nail seating can bring in the customers as well. Esthetic equipment that is new and state of the art such as electric facial beds, facial steamers, microdermabrasion machines and more can pay for themselves in a few months, provided you offer the specials to bring in the clients, and send them home with a discount certificate for a friend. Word spreads and your customer base grows.
Because service costs vary throughout your spa, your spa management should make it a point to pay attention to the potential profits from this variant. For example, the skin and facial services may be 6% of your sales, but it is an average rather than a single view. However, if you take the waxing, scrubs, and eyebrow services individually, you can see that products may cost less than 2% while the more detailed facial services come in at a higher cost of 10%, so your average for facials has a very large fluctuation in product costs. The founder of La Therapie Spa at Preston and the Lorena Luca Spa, both in North Carolina, Nina Milano, explains how this product cost plays out in her salons. “We’ve noticed over the last few years, especially with the opening of local wax-only facilities, that we actually don’t experience significant return on body waxing. The cost of wax has gone up and the return is very small. Facial waxing, on the other hand, takes minimal time and supplies, therefore producing better profits.” She also mentions that her marketing efforts focus on massages as they “produce highest ROI for our spas.”
Changing the way you view your space, adding services and marketing to affluent neighborhoods can change the ROI of your salon or day spa just as others have found to work for their successful spas.
Start Small and Easy – Salon Tips
Re-imagining spaces that are underutilized in your salon are perfect for growing your clientele. Creating visually aesthetic spaces, that offer curtains and privacy for your pedicure clients can be a real money making bonus. Clients enjoy being in private luxury when they are wearing robes and flip flops while getting services. This space can double up to do their eyebrow wax and their facial treatments in your day spa as well. All services in one quiet, private space. Privacy is a simple upgrade, with a simple dressing room divider or a curtain that is low cost, but a popular way to have clients feel at ease. Many clients say they prefer this privacy and often salons that have these special spaces for clients see much more foot traffic and it increases their bottom line. Lighting, plants, portable water features can all create a soothing space that is memorable to the experience. Add in additional discount certificates and gift certificates to loyal clients and have them spread the word for you. Inexpensive and effective.
Upscale your Day Spa
Adding equipment can be intimidating. However, offering open house evenings to showcase your new equipment, and offering discounts to clients for purchasing a series of treatments can be an easy way to pay off your new investment rapidly.
At Universal Companies, which is a spa and salon industry supplier, media director, Jenny Hogan, knows that taking simple add-on services will add to your bottom line in a big way. “These add-ons are a quick and easy way for your spa to increase profits, while adding value for your clients,” says Hogan. Bring the creativity and the simple additional services and you can showcase an exceptional spa experience.
Offering treatments that no one else offers in a large radius, such as cryotherapy treatments, can be a huge bolster to your ROI. Cryotherapy improves the body internally as well as the collagen effects on the skin, and because of its multiple healing opportunities, more and more spas are offering cryotherapy as a great new spa treatment. State of the art massage and waxing tables, tanning beds and facial equipment which can serve couples or singles can all be the services that others don’t offer and you do, making you the premiere go-to for spa services.
Clients love to find the innovative and most talked about new treatments in salon services. The ultimate spa and salon for any word of mouth marketing is all about innovation, creative spaces and customer pampering. The ROI of any new equipment or service is a potentially major growth mechanism, where you can charge more if you’re offering more. Take the time to effectively market it to your loyal customer base, and spread the word to reach clients whose current salon or spa doesn’t feature the unique treatments that yours does.
Learn more about cryotherapy by reading our blog articles and find out about the business of cryotherapy.
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