Bringing in new treatments - save up or use credit?

[pure]

I think it's the thought of ExCel coming up thats doing it but I really want to introduce a couple of new treatments this year. One being spray tanning and the other I am thinking about is gel nails.

Thing is with all the expense of setting up the salon I know I won't have enough money in the business account to do either of these at the moment but I do think they could do very well at attracting new clients and new business, especially tanning.

So would you use credit (ie credit card) to buy new kit or do you wait until you can buy it outright?

 

[Nicki-Marie]

Ive done it both ways. I do love the satisfaction of being able to pay for something outright and knowing ive worked for it. Although ive invested in treatments that ive felt id have instant call for by paying 'monthly' so to speak.

Ive sometimes felt .. oh i cant afford that right now, shall i just go ahead and get it by other means. But ive stopped myself in my tracks as i would constanly be doing it!

Id say go with your gut instinct. And of course if you feel it would be profitable.

 

[gemini_beauty]

Have you done any previous training in tanning and or gel nails?
I work on a self employed basis aswel and introduced spray tanning last year. I used fake bake and the cost of the training inc the equiptment came to £450

For the £450 i got a hvlp compressor, 4litres of tan, 1 litre of moisturiser, the training and i am listed as a stockist for fake bake. I found them a lot cheaper than other companies such as sudo who wanted the best part of £1000 for the same thing and i ahev never had any problems with the tan or the company.

If i were you i would just save up until you have enough in the bank to buy the things you want outright.

hope this helps x

 

[fificharlie]

I dont owe anyone a penny for anything in my salon :green: (I have come so close to just saying 'eff it' and buying hundreds of pounds worth)

I made the choice to not get into debt, but the choice really is down to you and how you feel about it.

I have to admit though that if I found a product or treatment that was in demand and I knew I would be guaranteed profit from it, I may well consider getting it on credit. .......*mind starts wondering*

I just basically wanted to keep everything as simple as possible, and not be in 'over my head' before I even got off the ground, if you see what I mean x

 

[Susie H]

Know your market place, or put another way do your research:lol:
My thinking is, Excel is at the begining of March, the products are all on special offer and you shouldn't be afraid to haggle, not so much for more money of but say for more tanning solution.
Now the research bit
If everyone is as sick of winter as I am by March then everyone wants the sun kissed look so if you pay for a system and training on your credit card, have your training within the week and imeadietly start filling your books with tans then its possible to recoup the bulk of the out lay before your credit card bill needs paying, in which case you have just had a interest free loan.
So first thing I would do is look to see which geeks do tanning and PM them as to how busy they are in March April, then talk to the company's that are going to be at excel and find out how quickly you will get trained if you book at the show and what incentives (much better word then discount:lol they will be offering and base your decision on that information.

 

[Blue Rose]

"but I do think they could do very well at attracting new clients and new business, especially tanning"

Speaking from expensive experience if I were you I'd see if there is the demand for these services first. It's so much easier to sell something to a willing market than it is to have your product/service then find the market for it.

There's been many a time I've bought something that I thought would go really well in the salon, only for there to be no interest whatsoever - even tried changing the names & descriptions but to no avail.

If you do decide to go ahead, why not offer your clients the chance to pre-book for a promotional 'trainee' price. That way you get your money for investing without having to put it on tick.

 

[angel fingers]

if you need to choose one of the 2 treatments, i would go for the tan as you already have an option for nails and the profit is higher for tans with it being a faster treatment.

 

[hippy-chick]

depends on how much it is.
If it was £500 ish then I probably would, but more then no.
I hate being in debt.

 

[beautynails]

I think the important thing is if you go for credit, make sure you can pay for it even if the treatment doesn't take off straight away. The only thing I've ever gotten that wasn't paid for up front is my skincare range. It was a third as a down payment then the rest paid for over 3 months. I made sure I could easily afford to make the repayments with the regular income I already had.

Just don't count your chickens.....................