Sharing your retail sales expertise with your buyers will provide a win-win for your business profits and theirs. Distributors, salon and spa business owners or any independent beauty professionals partnering with your company to offer your product lines will benefit from becoming an expert retailer. Share with your buyers the fact that retail is their key profit driver and will dramatically boost their income, increase client retention and loyalty and provide added value. Retail will become their insurance policy to guarantee that they stay in business.
The Professional Beauty Association reports that in 2010, salon and spa profits from services ranged from 4.1% to 7.6%, while profits from retail ranged from 30% to 40%. The majority of salons and spas today are simply not earning money, with only 16% of the nation’s salons being profitable.
Lauren Gartland is president of Inspiring Champions, based in San Diego, CA.For more information on Lauren and the Inspiring Champions collection of live training camps, coaching services, mentoring and educational resources, call 800-496-9305, email email@example.com or visit them at www.InspiringChampions.com.