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Jack Panico has been a salon owner for most of his professional life. When it comes to retail, Panico is passionate and wants to share what he has learned from his decades as a successful businessman and salon professional.
MODERN stopped by to visit him at his Panico Salon in the heart of Ridgewood, NJ, an affluent suburb of NYC. The ground level salon is large (50 stations), offers just about every beauty service available and includes a medi spa on the lower level.
Panico took us on a tour of his retail space which is primarily spread out on multi-level displays in the windows along street level, but products are peppered throughout the salon on smaller kiosks and placed between each station for clients to hold, smell and test.
According to Panico, salons should aim to make about 20% of their gross from income and staff should be rewarded for their efforts with a decent commission. When asked how to deal with online retail, Panico said that owners should look to partner with brands that are exclusive to the salon and do not offer their products through e-commerce. He also believes each salon should offer at least two lines (he carries Oribe and Windle and Moodie) and that the brands carried should reflect the salon culture.
Check out this tour of his retail space and get some additional tips on how to “up” your own retail game: