Keeping you informed on latest news about the Credit Crunch and how it relates to salon owners and their business - there’s news over at Bytestart (UK small business news site) about the Credit Crunch, or potential recession. Firstly they report that the British Chambers of Commerce have forecasted that a recession is “a distinct possibility” -
“The British Chambers of Commerce has published its quarterly economic forecast, which predicts a distinct possibility of recession for the UK economy.
The latest forecast makes for rather gloomy reading and foresees turbulent times for British businesses.”
And then they offer an article- How to survive a recession.
It’s not as in-depth as our article Getting Through the Credit Crunch - How to “Recession Proof” Your Salon, but makes some good points. In particular, it emphasises the importance of marketing your salon at times like these -
“Do not stop marketing activities
As the consumer spending bubble decreases in size you need to continue to grab a share of this decreasing pie. You will find that your existing customer base will be impacted as companies fold and people tighten their belts and investing in marketing activities at times like this is more important than ever.
Use marketing to enhance your business and personal profile to differentiate you from the others. Emphasise your qualities as a business, playing on your strengths, your longevity maybe.”
Meanwhile, there’s a poll over at the SalonGeek forum - “Are you feeling the credit crunch?” - which is a great place to get help and support from fellow salon owners.
"Without doubt the best business decision I have ever made. Just one example, I bought a new machine for my salon costing £20,000 - just using the 
"After 20 years in the beauty trade I applied just one of the ideas in the 
"Since buying 
"I've now been using the material for two-and-half weeks... I have already taken £1403 worth of extra business - and not just bookings - already over £1000 of this is in the bank!!!! ...been completely booked solid all this week and the weekend is looking much the same! This is certainly the best business investment I have made to date."
- Tracy Norton, Diva Health & Beauty At LA Fitness, Sale & Dragons Health Club, Brooklands, UK
"Totally reformed the way I now market my salon. I went from getting very mediocre results where I've been lucky to break even - to spectacular results! The traffic to my salons has increased significantly, and I'm now really confident with