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Business loans Hairdressers, Barbers, Beauty Saloons

The secret of success for your hairdressers, beauty salon or barbershop?

You have to be sure you’re covering your costs and making a profit.  A key ingredient in getting your prices right while at the same time keeping a strict eye on your outgoings and reducing spending where you can.

Increasing retail sales. Hairdressing sector includes a range of hair-related services, such as hair cutting, colouring and styling, as well as facial hair grooming.  As of May 2017, 54,400 people were employed as Hairdressers in Australia, with that number expected to grow to 58,200 by May 2022.  Ensure your salon and barbershop employees know how important retail sales are to the bottom line.

For example:

• Make sure they tell clients which products they are using on them while educating them about the benefits – this will encourage clients to buy the products for use between appointments.
• Encourage staff to sell the products they love – their genuine enthusiasm will be infectious.
• Ask your supplier to run a training session for staff, so they fully understand the products and their benefits.
• Offer a monthly prize for the best salesperson.


Reducing costs in your salon or barbershop
Getting your prices right and boosting retail sales will increase your profits. But to make your profit margins even higher, you can take steps to reduce your costs.

For example:

• Cut back on stock or wastage.
• Negotiate a better deal with your suppliers.
• Shop around for the best utility deals.
• Make sure your current business account offers the best value for money.
• Keep an eye on your wage bill – if you’re spending more than 60% of your turnover on wages, you may need to think about reducing hours or the number of staff you employ.

You must pay your employees the appropriate National Minimum Wage or apprenticeship rate.


Client loyalty and retention

Keeping clients and attracting more via word-of-mouth recommendation will help to ensure a healthy profit margin in your salon or barbershop.

2019 Australian Hairdressers Report found that:

• Women now spend $1994 on an average annual basket of treatments, up 13% ($218) from last year.
• Men now pay $1779 on a yearly basket of medicines, up 9% ($168) from last year.

These figures show just how important and valuable customer loyalty is. Losing even a single customer can be very costly financially.  There are several steps you can take to increase customer loyalty, from special events and loyalty cards to make your clients feel valued with personalised consultations and welcome packs for new clients.

How to Make Your Salon Business Grow?

There are seven fundamental ways you can make your salon business grow:

  1. Grow your salon clientele
  2. Get your existing clients to visit your salon more frequently
  3. Sell more services/products per salon visit
  4. Sell more expensive services/ products during each salon visit
  5. Reduce your salon operation cost
  6. Add additional, non-traditional, income streams to your salon business
  7. Scale up your salon business

The above may sound visible to you. And it is. But it’s the “if” and “how” you execute against this that makes all the difference.  And it’s on this that I’ll spend the most time with you today.

To grow your salon business, you need to strike the right balance of planning and executing. You need to find the time to take a step back. See the bigger picture. Align the direction. And then run against it.

Speak to a lending specialist today on 1300 760 930 to get funds in 24 hours or start your application and apply now.

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How Capify helps small businesses hairdressers, beauty salon or barbershop acquire funding

Top Questions asked to hairdressers and barbers

How long does it take a hairdresser to colour the hair?
Colouring hair can take anywhere from 20 minutes to over 2 hours, depending on the results wanted, existing colour and health of the hair.

What do foils do?
A foil is a separated section of hair with lightener applied, which is folded in foil to process. Foils can be highlights or lowlights to add depth.

Will a hairdresser cut extensions?
Many hair salons will offer hair extensions as a service, including blending them in with your natural hair.

When does a hairdresser use toner?
Hair toner changes the tonality of the hair and can be used on any hair colour. It’s mostly associated with blonde hair to remove brassiness.

Can hairdressers remove bleach?
Lightened hair cannot be removed. However, you can tone bleached hair or colour it for a different look. The other option is to grow it out.

Can hairdressers or barbers remove permanent hair dye?
Colour correction can be a long, but well worth it, ordeal. The process will depend on what colour and product are in your hair and the desired result.

What is keratin treatment?
A keratin smoothing treatment seals hair cuticles with a protein coating, which eliminates frizz, leaving the hair smooth and shiny.

What is balayage hair?
Balayage hair is a colouring technique, typically blending darker roots into lighter ends. The Ombre look is one of the biggest trends of 2019.

How often should you get a haircut from a barber?
Short hair does require more frequent trimming, but medium-to-long hair can be cut every 6 to 12 weeks, depending on its health.

How do you make hair grow faster?
Washing your hair less frequently, visiting your hairdresser for a trim every eight weeks and avoiding heat tools can all help hair grow faster.


Where can I get a loan for my hair salon, beauty salon or barbershop?

Capify provides fast business loans in Sydney and is one of Australia’s leading finance firms that obtain the purpose of providing funds and assistance to any business who require it.

They offer two types of loans or credit products including; Merchant Cash Advance and Capify small business loan.

Capify is different from competitors with their ideal NSW business loans, and their ability to see potential success in businesses without being bias as much as possible on previous credit ratings.

Capify is an alternative to the big bank and does not offer a line of credit or interest rates. Instead, they work with a fixed rate. Loan terms range from 3 months to 12 months, and their loan amounts range from $5,000-$300,00.

How could small businesses in Sydney and NSW use Capify business funds?

  • Pay Bills
  • Marketing
  • Hiring extra staff
  • Purchasing Stock
  • Improve Cash Flow
  • Purchasing a Business car or Truck
  • Renovating or Expanding the business
  • Upgrading or Purchasing Equipment

Why choose Capify?

The great news is that Capify’s application costs are free, we don’t charge you when you submit an application for a small business loan in Sydney. It’s obligation-free and you can commit whenever you are ready.

A great financial product that Capify can provide is Merchant Cash Advance, where this revolves around businesses gaining a lump sum of money and repaying it through minor percentages of their EFTPOS transactions. This would greatly benefit the business as it would prevent cash flow shortages, thus they are able to have the cash to pay debt payments, expenses, and unexpected costs.

Furthermore, enterprises are also introduced to the option of Sydney business loans that Capify can provide, increasing capital, thus increasing cash flow. Alongside this, they deliver expert advice that contains knowledge and techniques on how to improve cash management to assist in keeping your business as healthy as possible.

Capify is Australia’s first small business lender since 2008, we have built and maintained a google review of 4.5/5.

Speak to a lending specialist today on 1300 760 930 to get funds in 24 hours or start your application and apply now.

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What are your interest rates?

We don’t use interest rates for our funding solutions.

Instead Capify offers an agreed total payback amount. The payback amount depends on the type of business you operate and the term you require the business finance for. This way your business knows up front the total costs, making managing your cash flow easy.

Does Capify have an office branch in Sydney?

Capify is a fin-tech and purely operates online. We do not have a physical branch. However, our office is in Parramatta.

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