ASCP Skin Deep


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New member benefit! Get the ASCP SkinPro app at 51 1 2 3 10 Reasons Your Beauty Business Is Not Profitable by Crystal Ochemba-Powell 10 WAYS BEING A BUSINESS PROFESSIONAL in today's climate, you may be wondering how to save money, how to cut costs, and how to keep track of where your money is going. Identifying aspects of your business that are costing you money and making changes to address them will help set up your business to be more pro table. Let's explore 10 reasons your beauty business may not be pro table and how to x it. You Have Expired Product. If you have a lot of expired products sitting around, you are losing money. The rst way to cut costs in this area is to buy only what you need. Even when you are rst starting out, it is a good idea to buy only 3–5 backbar items and a few common retail products. As you grow, so will your product o erings. Keep in mind that you don't have to carry multiple lines, especially if you are a new solo professional. Start with 1–2 lines you believe in and add a new line only if it complements your business and your niche. Additionally, if you have products that are not selling well, you are losing money. To increase sales, try doing a promotion. A good way to run a promotion is to o er a sample of the product to each customer you see for the next 30 days. After a few days, send each client a personalized message asking them for feedback on the product. If they enjoy it, o er to set aside a full-sized bottle for them to purchase. You O er Services That Aren't Selling. You should be pulling monthly reports and analyzing services that aren't booking well. Think about why you may not be booking these services. Are clients aware you o er them? In order to increase awareness, you can bundle one service with a complementary service as a special promotion to generate more interest. If a service is still not a top seller, it may be time to cut it or consider outsourcing to a referral. Remember, services that aren't selling mean expired products and loss of money in your business. You're Paying Recurring Charges. Those pesky recurring charges seem to add up in both our personal and professional lives. Periodically reviewing bank and credit card statements is a great way to catch recurring charges you aren't using. Another way to cut down on recurring charges is to purchase your

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