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Episode 177. Navigating the Budget & Business Changes in the Beauty Industry
Manage episode 451819813 series 2704506
Treść dostarczona przez Katie Godfrey. Cała zawartość podcastów, w tym odcinki, grafika i opisy podcastów, jest przesyłana i udostępniana bezpośrednio przez Katie Godfrey lub jego partnera na platformie podcastów. Jeśli uważasz, że ktoś wykorzystuje Twoje dzieło chronione prawem autorskim bez Twojej zgody, możesz postępować zgodnie z procedurą opisaną tutaj https://pl.player.fm/legal.
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In this episode, Katie and Amy talk about the challenges and opportunities presented by the latest budget changes and how they impact the beauty industry. From minimum wage increases to VAT challenges, they share practical advice and strategies to help salon owners adapt, thrive, and future-proof their businesses.
Whether you’re running a single-chair salon or managing a franchise network, this episode is packed with actionable insights on pricing strategies, employment models, team culture, and client communication. Plus, a candid conversation about poaching, pricing, and why respect and culture are at the core of a successful salon.
Key Takeaways:
• Budget Breakdown: Why the minimum wage and tax increases may require salons to rethink pricing and operations.
• Pricing Strategies: How small, regular price increases can avoid client backlash and protect your profit margins.
• Team Structure: Exploring the pros and cons of employment versus self-employment models and how to foster a loyal, respectful team culture.
• Client Education: The importance of educating clients about industry costs without making them feel responsible.
• Recruitment & Retention: Tips for attracting and keeping top talent in a competitive market.
• Outsourcing vs. Hiring: How to save costs and increase efficiency by hiring contractors for non-core roles like marketing and operations.
• Ethics in Business: Why leaving a business on good terms is crucial for long-term success.
Quotes:
“The whole industry needs to level up if we want clients to value us more, we must first value ourselves."
“It’s not about doing what we’ve always done; it’s about adapting to what’s right for the business today.”
“Respect and culture are everything. Leave respectfully, and you’ll always have a door open.”
Join the Conversation: Have a question or comment about this episode? Share your thoughts on Instagram and tag @kg_katiegodfrey
Thank you to our sponsors:
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