When you first opened your business, you may have concentrated your energy on doing one thing extremely well. You likely started with one location and centered your offerings around tanning services. If this is the case and you haven’t already begun to expand your horizons, now is the perfect time to begin incorporating some form of diversification!
Even with the opportunity for greater profitability, everyone can be a bit reluctant to embrace change within their lives, especially when it comes to your business – your livelihood and that of the people you employ. The good news is that by expanding your business to include new products and services that are already in line with your current offerings, there is less risk involved and it will minimize your uncertainty.
As you prepare for growth and before broadening your service menu, it is imperative that you create a solid and strategic plan for doing so. Conducting research ahead of time is important and you will find there to be many helpful resources at your disposal. In-person tanning and wellness events, scheduling meetings with industry vendors or attending webinars remotely are just a few ways to increase your knowledge and obtain valuable information.
Customers attracted by your new service menu may utilize your tanning equipment, even if it’s something they have not previously embraced!
If your diversification plans include similarities to your existing industry and service offerings, the skills and knowledge required may already be somewhat in line with the skills you and your staff already possess. As a result, there may not be a need for extensive training or a requirement to learn new techniques that are completely outside your comfort zone.
Perhaps your salon service menu has been exclusive to UV-tanning equipment and related products? Self-care and wellness are a vital part of everyone’s overall well-being. Incorporating ancillary services such as custom airbrush tans, adding units with red light and infrared light, or even incorporating hydro-jet water massage units will prove to be an attractive extension of services and the products that complement them. Doing so will allow you to appeal to a diversified customer base – and year-round, as well. As a bonus, these same customers may utilize your tanning equipment, even if it’s something they may not have previously embraced!
An important item to consider as you plan to diversify your business is the software program required to accommodate your new services and products. You will want to determine whether your existing program will meet your new needs, and if not, what would be the process and costs involved with implementing a new one? Using the example above, if you are contemplating adding custom airbrush tans to your menu, does your current system offer necessary features such as an electronic appointment book, a check-in option for customers, or an employee scheduling module? Do you have the ability to mark non-regulated services as exempt from the excise tax?
Part of your growth strategy may also include opening additional facilities. Again, you need to make sure you have a software solution in place that will accommodate this type of growth. Once you expand to a multi-location environment, it is crucial that your system is easily scalable, networkable and that it updates in real-time. You will also want to confirm that your software program has a utility available so that you can continue to operate your business seamlessly should an unfortunate situation such as an internet outage occur.
Whether it’s expanding your offerings or increasing the number of locations you have, make sure your growth plans incorporate diversification, and be confident that the tools and resources you employ will aid in your success!
