Buy-back agreement – a trade show can always include in the employment contract a buy-back clause that allows an employee to purchase his non-competitive and non-advertising restrictions if he wants to walk and continue to work near the show or serve his former customers. Social media ownership – Many salons in the beauty industry now use Instagram as a way to market their services and often contain “before” and “after” photos of their customers. An employee contract should indicate who owns these images and what will happen to them when the employee who performed the work and/or posted the images leaves. Their customers and customers may have doubts about the stability of the business and whether they always get the same level of service and quality from the new owner as with themselves. We`ve all seen and heard examples where loyal customers have started looking elsewhere “just in case.” If your customers choose a new trade show or supplier, it can weaken the value and business dynamics of your businesses. On average, it takes 9 months to a year to sell a small business and between 12 and 18 months to sell an intermediate business to larger SMEs , during this period, one of the above companies could have a negative impact on your business and decrease its value. That`s why confidentiality is essential, regardless of the size of the beauty business. Imagine you weren`t selling your beauty store like you would with your own property. You wouldn`t have put up a “For Sale” sign, invite people to a visit to the Open House and you want everyone to know that your business is for sale through online advertising and in newspapers. This visibility generates rumors and instability among employees, customers and suppliers, creating opportunities for your competitors.
While confidentiality, you control the situation until you are ready to tell others that you are selling your belongings, which gives you an advantage. Consider the key elements of the code of ethics required of your salon employees. Use statements such as “Employees treat all customers with integrity and dignity.” Close the bans against poaching of clients of other stylists and bad-mouthed other stylists work or skills. Encourage your employees to demonstrate maximum integrity and professionalism in their dealings with customers and each other. When selling your beauty business, it is important for the business owner to keep this process confidential. Why is that so? Because it gives you the upper hand. The confidential marketing of your show allows you to see who and how many people are interested without anyone else knowing your business and being potentially threatened. At BuyMySalon, our processes are designed and proven to avoid such confidential problems.