One of the most important parts of running a successful spa business is retail, so for this month’s column, I’m sharing tips from my friends Kathleen Arehart, founder and CEO of 124 Consulting and Patty Olinger, founder and CEO of Beams LLC Consulting. They have a great take on retail and the benefits of sourcing local products.
According to Arehart and Olinger, not only does a well-curated retail area offer an additional revenue stream, but it also serves as an extension of your brand and a way to enhance your clients’ overall visit. It also can be a way to draw clients in. For example, many people struggle with gift ideas for friends, family, and colleagues. Getting a reputation for being a place to get a great gift also provides an opportunity to sell a spa package. Here are Arehart and Olinger’s six reasons why it is important and beneficial to source local for your spa’s retail area.
1. Unique Products With a Story
Local artisans and businesses often create high-quality, one-of-a-kind items. By showcasing these products, you not only provide your clients with something special, but also connect them with the stories and people behind the products.
2. Support the Community
When you choose to stock items from local artisans and businesses, you’re investing in the local economy, helping to create jobs and foster growth, and also build relationships within your community.
3. Eco-Friendly Practices
Sourcing locally often results in fewer carbon emissions associated with transportation and supports businesses that prioritize eco-friendly practices. By reducing your carbon footprint and supporting local businesses that share your commitment to sustainability, you can attract eco-conscious clients.
4. Personalized and Customizable Options
Many local artisans and businesses are open to creating custom products or variations of their existing offerings, allowing you to tailor your inventory to the preferences and tastes of your clientele. Offering bespoke options can set your retail area apart.
5. Enhanced Brand Identity
By aligning your business with local artisans and businesses, you demonstrate a commitment to authenticity, quality, and community engagement, all of which can resonate with your target audience, strengthen your brand identity, and build trust and loyalty among your clients.
6. Flexibility in Business Options
One approach is to consider consignment agreements with local artisans and businesses, which allows you to showcase a wider range of products without the upfront cost of purchasing inventory. Instead, you pay the supplier once the product sells. You may also choose to increase your inventory by purchasing products outright from local suppliers, which grants you greater control over your inventory and may result in higher profit margins per sale.
By embracing local sourcing, you can create a truly memorable and holistic experience for your clients, while strengthening your business and your ties to the community.