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Expanding Your Salon Empire: How to know when you're ready for second location & beyond.
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Ready to expand your salon empire but unsure if it's the right time or what model to follow? This episode is your roadmap to making that crucial decision. We, your hosts Lindsay Lowe and Jen Booth, break down the vital factors that would indicate your salon is ready—Capacity, Productivity, and Retention (CPR). We reveal why an 85% capacity and an 80-85% productivity rate is your cue to consider expansion and help you gauge these metrics with a free, easy-to-use CPR report available on our website www.thephdprogram.com. Further, we stress on how boosting your salon’s capacity and productivity, and prioritizing customer retention can pave the way for successful growth.
As the conversation evolves, we navigate the exciting yet intricate process of scaling your business. Drawing from the successful strategies of giants like Chick-fil-A and McDonald's, we guide you through various models such as acquiring or starting a new location with a shareholder, franchise, or sole ownership. More importantly, we enlighten you on the essence of finding a committed partner, who not only shares your vision but is dedicated to driving the business forward. Every word in this episode is tailored to equip you with the savvy, the confidence, and the insights to successfully fire-up a second salon. So tune in and let's get started on your next successful venture.
Do you have a question for Blondes in Business: Luxury Beauty Business Podcast? Send a text or leave a voicemail at 855.650.3445 or send us an email to hello@thephdprogram.com. We would love to hear from you.
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Capitole
1. Opening a Second Location Key Factors (00:00:02)
2. Considerations for Expanding Salon Business (00:16:32)
39 episoade
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