The Cosmetology Instructors Network is here to help rescuing struggling cosmetology school before it closes which requires a combination of financial restructuring, operational improvements, and strategic marketing. Here's a step-by-step plan we use:
We Will Assess your Situation
- Our staff will come in and conduct a financial audit and review your cash flow, outstanding debits, and revenue sources.
- We will analyze your enrollment and retention rates, and we will identify why student's numbers are declining.
- We will review your accreditation status and ensure you're in compliance with state and national requirements.
- We will assess your staffing and operations and determine if staffing inefficiencies or operational costs are draining resources.
Increase Enrollment and Retention
- Improve Marketing and Outreach
- Leverage social media, influencer partnerships, and online advertising.
- Offer referral bonuses to current students for bringing in new enrollments.
- Optimize SEO for the school's website to attract local students.
- Offer flexible scheduling by introducing part-time, evening, or weekend classes to attract a broader of audiences.
- Having strong enhance career placement support will give you a strong job placement rates that can attract students looking for employment security.
Secure Financial Support
- Apply for Grants and Scholarship through organizations like the American Association of Cosmetology Schools (AACS) and Beauty Changes Lives provide financial aid.
- Partner with product brands and salons to negotiate sponsorship or training partnerships with major beauty brands like L'Oreal, Redken, or Paul Mitchell.
- Crowdfunding and Community Support uses platforms like GoFundMe or approach local businesses for sponsorships.
Reduce Operational Costs
- Streamline staff and expenses while adjusting staffing to meet current student enrollment while maintaining educational quality.
- Negotiate lease and Utility Cost to attempt to renegotiate terms with the landlord.
- Implement Technology using management software like Meevo or GustVision to automate administrative tasks and reduce overhead.
Improve Student Experience
- Modernize curriculum and equipment and update the training techniques to match industry trends (e.g., social media marketing for hairstylists, trending beauty treatments).
- Enhance student support services by offering mentorship programs, mental health support, and career coaching.
- Strengthen community engagement by hosting free beauty services for the community, allowing students to gain real-world experience and attract potential clients.
Seek Mergers or Acquisitions
- Partner with established schools if closing is imminent, explore partnerships with other schools for potential buyouts or mergers.
- Last but least consider affiliating with established brands like Paul Mitchells Schools to gain brand recognition and financial support.
For a 30 minutes consultation, please email us at J.Benincosa@cosmetologyinstructorsnetwork.com or by calling us at (412) 295.3768