4 February 2023

Recession – Learn from the Past!

According to reports we’re officially in a recession, and while that means clients may be tightening their purse strings, it’s also an opportunity to start afresh, reinvent yourself and your business and look to the future.

We spoke to several stylists who have experienced a recession in the past. They talk about what you can do to ride out this one.

Jamie Brooks, Brooks & Brooks

Recession

“When people talk about a recession it’s easy to panic and think of the worst that can happen. But don’t; stop and take a longer term view, not just of the days and months ahead. We try to live for the moment, but you have to start planning for the other side. Flexibility is key during a recession, so take steps to change your plans and be open to movement. Some of the best ideas come during a recession as you think outside the box and do things in a different way. So make the most of your opportunities, shift your focus and keep everything positive.”

Robert Kirby, Robert Kirby London

Recession

“Don’t believe everything you read. The newspapers and the news programmes are full of doom and gloom, but concentrate on what you have and what you have to offer. No one knows your clients better than you do, so put together service menus that suit your business and your team. Have a look at everything you offer and how you can make it better, more streamlined, more profitable.

Matrix Artist Ambassador Terry Longden

Recession

“Having worked as a junior during the 80’s recession and experiencing the recessions that followed, including opening salons, I have come to the conclusion that economic recessions come in cycles and are a natural evolution of the working world. So, my advice would be to anyone worrying about the future is to ‘keep calm and carry on’ and just make sure you are able to move with the economic times, keep to your budget and don’t compromise your quality of service. 

In quiet periods, up your skills and try not to think that you need to over discount to keep clients. What I’ve discovered is that clients also worried at these times. They will just stretch out time between appointments but will still rather come to a salon they trust. When your salon attracts clients because of continued discounts, once the recession starts to ease, it will be more difficult to move away from.” 

Matrix Artist Ambassador Simon Townley

Recession

“During the last recession I was three months into my first salon with my business partner. My advice going into this recession is don’t always look at how you can bring in more money but look at ways you can save you and ultimately your clients money. Look at any bills, rents and utilities you can save money on – can you sub-let an empty space to a beauty therapist (subject to your contract).

Look at your service menu and how you are charging – do you want to be doing kids hair that can take just as long as adults but charge 25-50% the normal amount? Charging by time can make a bit difference to your profit line. Clients want the best hair that’s why they come to you, so they just need to educate them on their products. If they are having a £100 balayage service or vivid colour but buying £5 shampoo then it’s up to us to educate on the benefits on longevity. Healthier hair equals better results.”

Martin Crean, MODE Hair

“Never give up. It doesn’t matter how bad it’s getting, always try to look at the positives and don’t get bogged down by the voice on your shoulder or the news on the TV. Concentrate on yourself, your business and your clients. Recession is a scary word but it’s also the time when businesses can flourish and reinvent themselves, some of the best ideas happen during challenging times, so keep a positive mindset. Clients will continue to spend money if they are a relationship built on trust, receiving high customer service and value for money.”

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