The COVID-19 pandemic has, among others, revealed to businesses the significance of pivoting. This is especially essential for service industries like hair salons. It is important to have a platform for maximising your revenue no matter the circumstances. If you’re a hair salon owner, here’s why building your own hair care product brand may be the way to go.
1: You know your target market very well
As a hair salon operator, you already have your ear on the ground. Who else is in tune with the current hair trends and understands what your target market desires? In fact, you probably know what your clients require better than they themselves do. Armed with this fundamental knowledge, you’ll be able to give them exactly what they need.
2: You have a captive target market
You already have the right target market in your hands. After all, those who frequent your hair salon are looking for ways to care for their hair and look better. As such, you are getting the perfect traffic and garnering the right eyeballs for your hair care products. This also allows you to expand your offerings to capture a wider market. People may come for hair salon services and stay for your hair care products, and vice versa.
3: You reap the benefits of vertical expansion
The pandemic has shown that diversifying your offerings is a good thing. When restrictions are imposed and people are not allowed to physically enter your hair salon, being able to sell hair care products gives you a way to still earn some income. As a bonus, by boosting your retail offerings, you are generating multiple revenue streams and setting the foundation for further expansion and diversification. Of course, with your own product brand, you will be able to bypass the middleman and enjoy a wider profit margin.
Not sure how to build your own hair care product brand? Your best bet would be to look for a reputable original equipment manufacturer (OEM) that can help you to hit the ground running. At Crigen Accor, we have vast experience and expertise in all aspects of your hair care original equipment manufacturing – from product ideation to realisation. Find out more about us today.
