For many years I practiced Aikido, a martial art that makes you win the fight using the strengths of your opponent. Not the size, weight or experience of your opponent, but your skills will determine who will win the fight. Today I will tell you how you can benefit from martial art to grow your hair business, or more friendly to make love with your competitors. You will notice you have enough in common and plenty of differences to benefit from a warm relation with the competition.
The hair business is a highly competitive market, sometimes it feels there are more people selling hair, than customers! But every disadvantage has an advantage, also in the hair business.
The great thing of competition is, you can learn from or steal from them or work with them. .Isn’t great to have access to so many entrepreneurs all active in the same market as you. Observe them, analyse them, love them or pick your fights.
Swap inactive clients and get a fresh source of ideal clients
Every business has clients who did not find what they were looking for any more.
Trust me, every business has this kind of potential money in the books. If 25 to 30 % of the old clientele is interested to re-stablish the contact with you, 50 to 70 % is not. These people have a clear need of buying hair and to look good, but are looking for other hair stores. That could be you. So offer your competitors to buy these contacts from hem. You are fresh and full of new ideas, big chance you can sell these clients some nice hair bundles! New promising leads for you.
You can reduce the investment in these leads from the competition, by offering the competition your clients that are in active. This way you still make money, from your old inactive customers. You can sell them or use them in a swap with the inactive clients from the other hair store.
You sell hair extensions, but perhaps you also sell other beauty & hair products. You will not be the only one to sell other services to make your client look and feel good. Why not exchange these clients too. If you sell bodywraps and the competitor is doing nails, work together with your client base. Offer the other hairstore your bodywraps clients and allow her to contact your clients with nail services.
The swapping of clients could be the step ahead of a joint venture, a business where both of you combine strengths and outsource the less developed parts of each of your businesses to the other hair store.
Sell the services from the competition
You can even think of selling the services of the competition under your brand name. They will perform or supply the goods, but under your brand. The competition , or your new partner, will be very happy to share a part of their profit with you. You have the network and the clients and they the products or services.
Make love or at least talk with each other
You are competitors, but that does not mean you shouldn’t talk. Go to networking events, say hey to the competition, Because this will help you to see their struggle. Even if they do not tell you, you will be able to see and hear more if you are on a friendly basis with them. Invite them to your store and make them feel comfortable and make them talk while you listen! And improve your business at the same time.
Grow Your Business thanks to other hair stores
So are you ready to make love with the other hair store? Check the eBook to find more ways to improve your hair business.