There is Hope for Nail Salon Businesses but sometimes hard to see the forest through the trees.
In the middle of this COVID-19 pandemic and resulting economic downturn, it’s challenging to image what your nail salon business will look like after the inevitable economic rebound that will (and it WILL) happen.
Whenever I find myself in the middle of a storm of bad news, first, I turn OFF cable news, then, I come in from the wind and rain and look to what the history-of-the-past can tell me about what can be expected to happen in the future.
A LOOK BACK
We have to go back to 2008-2009 to the dull and dreary days of the economic downturn that would take a toll on many businesses…but back then you wouldn’t know the economy drove off a cliff by looking at your fingernails and toenails.
That's right...during this time in history, manicures and pedicures emerged as the go-to indulgence for many trying to defy the economic doldrums.
In fact, nail salons were experiencing a bump in business and mani-pedis were one of a few luxuries held onto even as consumers made cuts in other areas.
When faced with less favorable economic conditions, consumers tended to save on big-ticket items, such as resort vacations, but spent more on small “feel-good” products and services.
A LOOK FORWARD
The nail business has you and your client sitting close, holdings hands and requiring general physical contact.
This is a problem in today’s COVID-19 world. So when things get back to normal, hygiene practices will be more important than ever.
A Clean, Well Maintained and Properly Ventilated Salon will be highly sought after by consumer post-COVID. Sterilizing equipment and disinfecting surfaces, washing hands and wearing face masks, proper ventilation and source capture systems are not only likely to be expected by your customer, but mandated and enforced (like never before) by local health and building departments.
Routines have been disrupted during this pandemic. Business are suffering. But hope can be found in history.
It tells us that we can expect “Affordable luxury” to perform well in a recessionary environment.
And by emphasizing a healthier, cleaner, and well ventilated salon, you can give your salon business the best chance to take advantage of pent-up consumer desire and demand when we all get back to “normal”.