DIVERSIFYING YOUR SALON PORFOLIO AND CLIENT SERVICES
In business, diversification means branching out into other service/product categories, industries or marketplaces. While this strategy does present some risks for a company, diversification is often viewed as a safety net against downturns in the salon industry or a way to grow your possibly grow your business.
Most salon owners/stylist offer services to a clientele fits within their comfort zone, that are limited to the salon/hair extension services or customers have available revenue for somebody in your industry to take advantage of. If your company doesn't diversity and expand to fill the additional demand, competitors are likely to do so.