How to use your unsold appointment slots to pay for existing expenses
Barter is the procedure whereby people exchange services and/or products for mutual benefit. This concept stems from our historical notion of direct trade where the exchange of products was the conventional form of conducting business before the evolution of our modern cash-based society. Today modern barter, or reciprocal trade as it is sometimes known, can be particularly beneficial for small business enterprises especially when it comes to creating a return on their excess capacity and cutting costs.
Are you in the salon business and you are wondering how the business bartering concepts can work for you?
If you are a hairdresser you need to consider that most salon service providers compete for almost the same clients. More competition means less potential revenue for each business and any salon owner runs the risk of failing to reach, or surpass, break even points and accomplish their set financial targets.
Depending on a salons location, changes in trends, climate-related events or economic conditions there are also times when the hairdressing business may experience low customer turnout and this is where, as a salon owner, you can consider enlisting business bartering ideas to turn some of your unsold appointment time / professional services into things you can use for your business [or yourself] to reduce your existing cash costs.
There are many creative ways of doing this and swapping your services with other business owners may be beneficial to both your business and yourself. Some of these include:
• Acquiring products through barter deals to give away to your most loyal customers or staff as a “value add”
• Trading for cleaning or laundry services, building maintenance, staff amenities or other supplies
• Purchasing products which you can private-label under your own salons name
• Bartering for the refurbishment of your premises
• Creating promotional packages or prizes designed to attract customers away from your competition
You can also swap your unutilized hair salon slots for advertising. By doing this you will be giving your business more exposure without needing any additional financial resources. If you are keen to expand your service range you may also think about exchanging some of your excess hair dressing time with a business whose service goes hand in hand with what you are offering to your clientele. For instance you can partner with a sun-tanning or manicure business and offer to trade services which you can extend to each others customers.
By providing a good service to the people that you are bartering with you can also expand your circle of influence and encourage word-of-mouth referrals. The more customers through your door the more chances that those people will tell others about your great business.
There are many ways that you can use barter and reciprocal trade to help your business grow and in such a competitive industry it is important to understand that those business owners who think “out-of-the-box” will be more likely to make it.
Copying and distributing this article
Ormita provides free updates about the generic benefits of barter to those interested in local currency, community currency, countertrade, reciprocal trade, barter exchange, time dollars, hours and other forms of community trade vehicles.
You may freely copy and distribute this article provided that you attribute the author and/ or source as the Ormita Commerce Network.
About Ormita
The Ormita Commerce Network spans 5 continents, with direct representation in more than 17 countries plus additional partnerships in a further 59 countries. The business allows companies to exchange goods and services on a reciprocal trade arrangement.
Some of our Websites
Ormita Commerce Network Australia – www.ormita.com.au
Ormita Commerce Network Canada – www.ormita.ca
Ormita Commerce Network India – www.ormita.co.in
Ormita Commerce Network Mexico – www.ormita.com.mx
Ormita Commerce Network New Zealand – www.ormita.co.nz
Ormita Commerce Network United Kingdom – www.ormita.co.uk
Ormita Commerce Network United States of America (USA) – www.ormita.com
For Licensee, Franchise and Partnership Enquiries please visit : www.ormitacorporate.com
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