Claus·tro·pho·bic In Your Existing Space?

Helping Female Business Owners Re-Imagine Expansion

Have you outgrown your existing space? Successful expansion is in the details.

We get it. Most owners don’t have the TIME to develop the strategy necessary to expand from their current space to a larger space. Because of this, many get stuck in the planning phase.

Here are a few pointers that will help you re-imagine the expansion process:

1. Get your financial house in order. Your business plan, pitch deck, financials, and business credit should all be ready to go at any step in the process. Learn more about business credit from FORA Financial

2. Keep an account of deadlines. Basically, have a detailed timeline. For example, plan out dates for a ribbon-cutting ceremony. Know when you should send out an email to existing customers with your new address and other pertinent details. Know when to update your SEO and online listings with the new address. Know when to have your signage and promotional material updated. and so on… (we’re working on a planning resource for you…stay tuned)

3. Get really comfortable with technology and automation. Automating repetitive tasks will not only make you more productive but it will also help ease the stress during expansion. If in front of your POS is a piece of paper asking for emails…it’s time to embrace technology! Streamlining your processes while integrating technology will help propel your business to the next level!

We want to help you re-imagine your business expansion strategy.

Schedule a complimentary “no-pitch” session.

What Are Your Salon Profits Telling You?

$𝟮𝟱𝟬,𝟬𝟬𝟬 𝗮 𝘆𝗲𝗮𝗿 𝗶𝗻 𝗦𝗮𝗹𝗲𝘀 𝗥𝗲𝘃𝗲𝗻𝘂𝗲𝘀!!!

𝗬𝗲𝘀, 𝘀𝗮𝗹𝗲𝘀 𝗿𝗲𝘃𝗲𝗻𝘂𝗲 𝗶𝘀 𝗮𝗻 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗺𝗲𝘁𝗿𝗶𝗰 𝘁𝗼 𝗮𝗻𝗮𝗹𝘆𝘇𝗲. 𝗕𝘂𝘁, 𝗺𝗮𝗸𝗲 𝘀𝘂𝗿𝗲 𝘆𝗼𝘂’𝗿𝗲 𝗽𝗮𝘆𝗶𝗻𝗴 𝗮𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝘁𝗼 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂𝗿 𝘀𝗮𝗹𝗼𝗻 𝗽𝗿𝗼𝗳𝗶𝘁 𝗺𝗮𝗿𝗴𝗶𝗻𝘀 𝗮𝗿𝗲 𝘁𝗲𝗹𝗹𝗶𝗻𝗴 𝘆𝗼𝘂. 𝗔𝗰𝗰𝗼𝗿𝗱𝗶𝗻𝗴 𝘁𝗼 𝘀𝘁𝘂𝗱𝗶𝗲𝘀, 𝘀𝗮𝗹𝗼𝗻 𝗽𝗿𝗼𝗳𝗶𝘁 𝗺𝗮𝗿𝗴𝗶𝗻𝘀 𝗿𝗮𝗻𝗴𝗲 𝗳𝗿𝗼𝗺 𝟮% 𝘁𝗼 𝟭𝟳% 𝗱𝗲𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝗵𝗼𝘄 𝘄𝗲𝗹𝗹 𝘁𝗵𝗲 𝘀𝗮𝗹𝗼𝗻 𝗶𝘀 𝗺𝗮𝗻𝗮𝗴𝗲𝗱.

𝗧𝗵𝗮𝘁’𝘀 𝗿𝗶𝗴𝗵𝘁…𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗶𝘀 𝗘𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴!

𝗪𝗵𝗮𝘁’𝘀 𝘆𝗼𝘂𝗿 𝗽𝗿𝗼𝗳𝗶𝘁 𝗺𝗮𝗿𝗴𝗶𝗻?

𝗛𝗼𝘄 𝗰𝗮𝗻 𝘆𝗼𝘂 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗽𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆?

𝗪𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄?

Start by reducing expenses

1. Costs of Supplies – We do not want you to sacrifice quality for price. But, we want you to research and negotiate your prices with your vendors. It’s a highly equitable relationship and there maybe some flexibility on behalf of the supplier.

2. Salon Overhead & Expenses – We all get busy. So busy that you may be missing ballooning expenses.

Here are a few expenses we’d like for you to review before 2020:

– Salon’s Business Insurance

– Merchant Services & Credit Card Processing fees (think @payscape )

– Software fees

– Cable and Internet fees

3. Reduce expenses by becoming more efficient. Technology and automation can play a vital role in saving money while simultaneously increasing productivity. Be open to integrating technology into your salon operations

Small Business Loans vs. Merchant Cash Advances

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Check out the Payscape blog post below…

Written By By Katie Alteri

“If your business is applying for working capital, chances are you might be overwhelmed by the different financing options. Two of the most notable products, merchant cash advances (mca) and small business loans, can be beneficial to small business owners. Still, it’s important that you fully understand these products – especially their differences. After all, you don’t want to spend time applying for financing that isn’t the right fit for your business!

In this post, we’ll review the differences between business loans and cash advances. Hopefully, this will help you can determine which option will help your business.

What Are the Differences Between Cash Advances and Small Business Loans

Qualifications and Application Process:

The differences between loans and merchant funding start with the application process and prerequisites.”

…READ THE FULL BLOG POST FOR MORE INSIGHT FROM PAYSCAPE