credit crunch!!

[Andreag]

hi everyone,is anybody haveing the same problem as me?iv been a nail tech since march this year,and i was doing really well getting customers,i put flyers round,business cards and i have advertising on my car(im mobile by the way),now most of my regular customers are saying they will just have their nails done for special occastions,as its a luxuary they cant afford every couple weeks,im not getting any new clients,and havent done any nails for the last 4 weeks!im starting to loose my confidence,i still practise on my 'hand'but its not the same,is it the credit crunch?,every one i speak to seem to be struggling at the moment,any ideas on what to do would be a real help x:cry:

 

[loubylou]

Are your clients in an area or a group of people where the recession is hitting harder than it would do some other groups of people,
try putting out flyer's in a different area,
do you have a posh area nearby where the people that live in that area will more than likely have more money than the rest of us and are not effected by the credit crunch as much as us,
if so try to advertise in that area, you may have more luck hth
you could also try to lure your usual clients back with some incentives,
free file and polish to toe nails with every new set of enhancements for example hth

 

[collin]

In times like these it's important to keep a control of your overhead costs...advertise in ways that can promote your business as cheaply as possible.

Remember if you can ride out the storm your business will be well placed to grow when things start to improve for you.

Try and not loose sight of what you are trying to achieve...a successfully business doing what you like doing.
Good luck :hug:

 

[princess fifi]

Yes, its hitting everywhere, higher fuel costs, Higher food costs, rental crisis (so higher rent), Mortgage rates sky rocketing, I have started my business this year and they say on the news and I have heard around that we should brace ourselves for the worst year in retail, clothing shops have dropped there prices to encourage people to buy, but everyone is tightening their budget.
It is hard, I agree with collin though.

 

[Bombalurina]

I agree as well
It's a really difficult time, I've been mobile for the last 7 years off and on, but only really started to push my business in May. May was ok, June was great, but July has been a real flop...fingers crossed for the next couple of months XX

 

[sharon h]

Hi I hope this helps alittle with the credit crunch
5 top tips.

1. watch your cash flow
if you have any invoices out standing chase up debtors, do not buy any stock that is not needed, contact suppliers to see if you can extend credit terms.

2. cutting costs
look for savings in the business, switch of equipment at night, do not leave things on when not in use, do you really need to make that journey, can you change that appointment for when you are next in the area to save fuel.

3. keeping customers
do all you can to keep clients coming through the door, use the good old loyalty scheme, sell it to them to tell friends/family and you get 1 point etc, offer small discounts.

4. prices
do not slash prices as you will be giving away any profit which is not good for business.

5. advertising
Get old and new customers interested in your services, send out emails to all your old & exisitng clients let them know what you do with a bit at the bottom explaining your loyalty scheme or theme for the week i.e small discount on a wednesday on nail enhancements or massage. or 2 for one mani & pedi for £........ do not waste alot of money on paper advertising as it does not normally work. unless its free press release.