Profitable Salon Owner Podcast

Exposing How Too Much Inventory Is Costing Your Salon Thousands! | EP. 163 | Profitable Salon Owner

Episode Summary

Discover how Leah Freeman, a 20-year salon veteran and global ambassador for L'ANZA Healing Haircare, turned her struggling salon into a profitable business by revolutionizing inventory management. Learn how to avoid costly mistakes and make your salon more profitable by rethinking your product strategy. Want help saving money and to add profit to your salon? Text “SUPPORT” to (916) 258-0720. Interested in learning more about L’ANZA? Visit https://www.lanza.com/ It is ideal for salon owners and beauty enthusiasts looking to maximize their profits.

Episode Notes

  1. Inventory Management: Leah Freeman discusses how excessive inventory, particularly in hair color products, can cost salons significant money.
  2. Background: Leah Freeman is a global ambassador for L'ANZA Healing Haircare and has been a salon owner for nearly 20 years.
  3. Business Expansion: Besides her salon, Leah owns an apparel store and a med spa, showcasing her diverse entrepreneurial ventures.
  4. Early Struggles: Leah's salon struggled with profitability for the first 10 years, even after her family invested $1.4 million to keep it open.
  5. Coaching Influence: Leah shares how her coach, Jason Everett, helped her realize the importance of profitability, not just revenue.
  6. Wake-up Call: A major turning point was when Leah reevaluated her inventory, realizing they were hoarding unnecessary products that weren’t selling.
  7. Lanza Partnership: Partnering with L'ANZA, Leah reduced her inventory significantly, which led to immediate profitability and more creative freedom for her stylists.
  8. Mindset Shift: Leah emphasizes the importance of changing the mindset around inventory, likening it to cleaning out a closet—only keeping what is necessary.
  9. Staff Buy-in: She stresses the importance of getting staff buy-in by explaining the reasons behind changes and involving them in the decision-making process.
  10. Creative Flexibility: Leah encourages salon owners to embrace creative possibilities with fewer products, making inventory more intentional and cost-effective.

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