Offer finance for hair salons (premium treatments)

Introduction: The Growing Demand for Premium Hair Treatments

In recent years, the beauty industry has seen a significant shift towards premium hair treatments. From luxury hair extensions and specialised colouring techniques to keratin treatments and Brazilian blowouts, clients are increasingly opting for high-end services that promise salon-quality results. These treatments often come with a premium price tag, but they deliver long-lasting benefits that many customers find worthwhile.

However, the cost of these treatments can be prohibitive for some customers, limiting their ability to access the services they desire. This is where offering finance for hair salons, particularly for premium treatments, can make a real difference. By providing flexible finance options, salons can make their services more accessible to a broader range of clients, increase their revenue, and build a loyal customer base.

In this article, we will explore how offering finance options for premium hair treatments can benefit both salons and their clients. We’ll also discuss how Kandoo, a leading UK retail finance broker, can help salons implement these finance solutions seamlessly.

The Benefits of Offering Finance for Premium Hair Treatments

1. Increased Customer Access to Premium Services

One of the main advantages of offering finance is that it makes premium hair treatments more accessible to a wider range of customers. Many clients are interested in luxury treatments but may be unable to afford the upfront cost. By offering finance options, salons can enable these clients to spread the cost of treatments over a period of time, making it easier for them to say “yes” to high-end services.

This approach not only benefits the client but also the salon. With more customers able to afford premium services, salons can expect an increase in bookings for these treatments, leading to higher overall revenue.

2. Increased Average Transaction Value

When customers have the option to spread the cost of their treatments, they are more likely to opt for higher-priced services or add-ons. For example, a client who initially booked a standard cut and colour might be more inclined to upgrade to a balayage or a keratin treatment when they know they can finance the cost.

By offering finance, salons can increase their average transaction value and boost their overall profitability. This strategy can be particularly effective during quieter periods, as it encourages clients to book more extensive treatments that they might otherwise have delayed or avoided due to cost concerns.

3. Customer Loyalty and Retention

Providing finance options can help build long-term relationships with clients. Customers who feel they have been given flexible payment options are more likely to return to a salon for future treatments. Additionally, they may be more inclined to recommend the salon to friends and family, leading to new business opportunities.

By offering a service that takes the financial pressure off clients, salons can foster a sense of trust and loyalty. This can be especially important in the competitive beauty industry, where customer retention is key to sustained success.

4. Competitive Advantage

The beauty industry is highly competitive, and salons need to differentiate themselves to stand out from the crowd. Offering finance options for premium treatments can give salons a unique selling point (USP) that sets them apart from competitors who may not provide such flexibility.

In an industry where clients are often looking for both quality and affordability, offering finance can be the deciding factor that draws customers to a particular salon. Salons that offer finance can position themselves as accessible and client-friendly, which can help them attract new clients and retain existing ones.

5. Boosting Seasonal Sales

Many salons experience seasonal fluctuations in business, with peak periods during holidays and quieter times in between. Offering finance options can help salons maintain a steady stream of income throughout the year by encouraging clients to book premium treatments even during off-peak times.

For example, a client may want to treat themselves to a luxury hair treatment for a special occasion, such as a wedding or a holiday, but might hesitate due to the upfront cost. By offering finance, salons can help these clients spread the cost over several months, making it more manageable and appealing.

Understanding How Salon Finance Works

Offering finance for premium hair treatments is a relatively straightforward process, especially when working with a reputable finance broker like Kandoo. Here’s a breakdown of how it typically works:

1. Partnering with a Finance Broker

Salons that wish to offer finance to their clients need to partner with a finance broker who can facilitate the process. Kandoo is one such broker that specialises in retail finance for UK businesses, including hair salons. They work with a panel of lenders to provide clients with a range of finance options that suit their individual needs.

By partnering with Kandoo, salons can offer their clients flexible payment plans, allowing them to spread the cost of premium treatments over a set period. Kandoo takes care of the administrative side of things, ensuring that the process is smooth and hassle-free for both the salon and the client.

2. Finance Options for Clients

Once a salon has partnered with a finance broker, they can offer a range of finance options to their clients. These options typically include:

• Interest-free credit: Clients can spread the cost of their treatment over several months without paying any interest. This is an attractive option for clients who want to avoid paying extra for their treatment.

• Low-interest finance: For clients who prefer longer repayment terms, low-interest finance options may be available. These plans allow clients to spread the cost over a more extended period, with a small amount of interest added to the total.

• Buy now, pay later: Some finance providers offer “buy now, pay later” schemes, allowing clients to defer payment for a few months before starting their repayment plan. This can be particularly appealing for clients who need a bit more time to budget for their treatment.

3. Simple Application Process

The application process for salon finance is typically quick and easy. Clients can apply for finance online or in the salon, and decisions are often made within minutes. Once approved, the client can proceed with their treatment, and the salon receives payment from the finance provider.

Kandoo ensures that the entire process is straightforward, from the initial application to the final payment. This allows salons to focus on providing excellent service to their clients without getting bogged down in paperwork or administrative tasks.

How Kandoo Can Help Hair Salons Offer Finance

Kandoo is a trusted name in retail finance and has helped many UK businesses offer finance solutions to their clients. Here’s how Kandoo can support hair salons in offering finance for premium treatments:

1. Access to Multiple Lenders

Kandoo works with a panel of reputable lenders, giving salons access to a wide range of finance options. This means that salons can offer their clients the best possible finance solutions, tailored to their individual needs. Whether a client is looking for interest-free credit or low-interest finance, Kandoo can help salons find the right option.

2. Easy Integration with Salon Systems

Kandoo’s finance solutions are designed to integrate seamlessly with salon systems, making it easy for salons to offer finance to their clients. The application process is quick and straightforward, and Kandoo handles all the administrative tasks, allowing salon staff to focus on what they do best—providing top-quality hair treatments.

3. Compliance and Transparency

Kandoo ensures that all finance options offered to clients are fully compliant with UK financial regulations. This means that salons can offer finance with confidence, knowing that they are providing a transparent and ethical service to their clients.

4. Marketing Support

Kandoo can also provide marketing support to help salons promote their finance options to clients. This can include point-of-sale materials, website banners, and social media content, all designed to raise awareness of the finance options available and encourage clients to book premium treatments.

Conclusion: Unlocking the Potential of Finance for Hair Salons

Offering finance for premium hair treatments is a win-win for both salons and their clients. By providing flexible payment options, salons can make their high-end services more accessible, increase their revenue, and build long-term relationships with clients. For customers, finance options make it easier to afford the luxury treatments they desire without the financial strain of upfront costs.

Kandoo, as a leading retail finance broker in the UK, can help salons implement these finance solutions smoothly and efficiently. With access to a wide range of finance options, seamless integration with salon systems, and ongoing support, Kandoo is the ideal partner for salons looking to offer finance to their clients.

In today’s competitive beauty industry, offering finance for premium treatments can give salons the edge they need to attract and retain clients. By making luxury hair treatments more affordable, salons can unlock new opportunities for growth and success.