Issue link: https://www.ahpindiestylist.com/i/1544743
38 AHP Indie Stylist Volume 7 Issue 1 learn a lot about you. is relationship dynamic adds complexity when the economy doesn't feel steady. "ere's a relationship that makes pricing decisions more complex than in other industries," Walker says. "Cash flow becomes less predictable. Guests may stretch appointments further apart. Some may try DIY options at home. At the same time, we're working hard to protect the experience and the integrity of our brand." THE BIGGEST OBSTACLES SALON OWNERS FACE TODAY Small business owners must always adapt to changing climates, cultural trends, and economic shis. Arguably, these are all felt more acutely in today's world than before. Let's look at some of the biggest hurdles salon and barbershop owners face. Rising Costs and Inflation e cost of everything is up, including rent, supplies, retail products, and recurring expenses such as payroll. is directly affects a hair business owner's bottom line and has an emotional impact as you navigate price increases for longtime clients. "Operating a salon in New York City has never been more unpredictable than in the current economic climate," says Amerah Underwood, co-founder of UMI Salon in New York City. "Rising costs and shis in client spending make the economic climate challenging for small business owners." "Luxury" Cutbacks On that note, everyone feels the impact of rising costs, including your clients. is translates to fewer appointments and an uptick in easy-to-maintain "recession" styles versus more transformational appointments. "I think we're in a time where people are spending more intentionally," says Natalie Peacock, cofounder and master colorist at Studio N Salon in Miami. "ey're not necessarily disappearing, but they're thinking twice before booking, stretching appointments longer, or being more selective about what services they invest in." When the economy feels unsteady, small businesses are often the first to feel the ground shake. GETTY IMAGES