Page 49 - RAGE ISSUE 2

Examine your current business overheads, including:
• Rent: Negotiate with your landlord if you are struggling to pay your

rent and don’t forget that eviction for non-payment of rent on

commercial premises is banned across the UK until 31 March 2021.
• Stock: Ask your suppliers to extend their credit terms, preferably to

60 days from re-opening. This will also help to ease your cash flow.

• Payroll: The furlough scheme is currently a life saver for all
businesses as wages are the biggest business expense. But even with the

vaccine being rolled out, I believe the coronavirus will be a major issue

for a long time and some restrictions will continue in the hair and beauty
industry.

You must evaluate your business payroll to make sure that it is never

more than an absolute maximum of 45% of your net turnover. As a
coach, I work with business owners and managers to get the payroll

percentage to 38% of net turnover.

Get your USPs (unique selling points) right: Consumer behaviour has

changed drastically making health & safety protocols, systems and

procedures the new gold standard for services that savvy clients will be

looking for. They will want to feel personally safe and sincerely cared
for, valued, comforted and special. They will also want to be confident

that they are dealing with an expert and the best professional their

money can buy.

Make these factors your USPs and you will be the high street business

winners in the future.
Visit my website @www.impactbusinessconsultant.co.uk and look at the

‘What I Offer’ page for FREE use of an Amazing Profit Boosting

Calculator that will work out for you what you need to charge your
clients to Make Decent Profits!