More Ways to Stretch a Buck

Recently, in NAILS’ business section, we’ve been sharing tips from salon owners on how to make a dollar go further at the salon. Reneé Borowy, owner of VIP Salon & Spa in Riverview, Mich., is in an area particularly hard hit by the recession. Her solution has been to renegotiate virtually all of her existing contracts and to make some energy-saving changes that have the added bonus of being good for the environment.

 

Here are some of Borowy’s tips:

 

• Renegotiate the charges you pay your merchant for credit card sales. 

 

• Explore long-term contracts. To reduce our rates we signed a three-year contract with our telephone company and two-year contract with our cable company.

 

• Negotiate with your bank to waive your monthly service charge if you hold a constant balance.

 

• Requote all printing for your brochures and purchase larger quantities for a price reduction.

 

• Requote all of your business insurances (liability, workers’ comp, property, etc.).

 

• Renegotiate your Yellow Book and Yellow Page ads.

 

• Buy washers and dryers that are energy efficient (if you need new ones) and consider a tankless water heat.

 

• Add ceiling fans to help with the air flow and distribution of heat and cold air.

 

• Send e-blasts rather that paper promotions to save on postage and printing.

 

Let us know if you have any tips on how to stretch a buck. Leave a comment below or e-mail judy.lessin@bobit.com.

 

— Judy