Financial Management

5 Essential Strategies to Generate More Salon Profit

I’m often asked this question by salon and spa owners, ‘How can I increase my revenue (turnover)?’. In fact, if staying in business and taking home a decent personal wage are the goals, the question should actually be ‘How can I make more profit in my business without working any harder than I already do?’…

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13 Powerful Strategies to Kick-Start Your Spa in the New Year

At the beginning of each year, most of us make a mighty dollop of personal New Year’s resolutions; get thinner, get fitter, stop smoking, drink less, or maybe it’s all of these and a few more for good measure. However, when you own a business, you often need to extend those resolutions to include new…

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Are You Losing Valuable Spa Retail Sales To The Web?

More than ever, salon owners have to compete with the internet for retail sales. What makes this even worse is that sometimes your competitors are the very businesses that you’re buying your professional products from.  And when this happens, it means that your clients, whom you’ve spent valuable time educating about these products, can purchase…

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22 Ways to Catapult Your Salon Profits Immediately

Another year is underway, resolutions were made, and hope for a more financially successful year is in the air. While it’s great to be optimistic about what lies ahead, we all know that what actually gets you from a resolution to a result are the actions you take to make things happen. So let’s take…

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The Importance of Knowing Your Break-Even Point

In any line of business, knowing your break-even point (BEP) is critical. Contrary to popular belief, it is not just essential knowledge for startups, but for all stages of business. As a salon owner, this information is essential, as it will assist you in your day-to-day operations, as well as assessing opportunities that may come…

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Focusing on Your Salon or Spa Profit

Why is it that making a profit from your salon or spa is so elusive? Is it because you don’t work long enough or hard enough? Is it because you don’t have a passion for making others look and feel fantastic? Or is it because you don’t deserve to be financially successful? The response to…

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Say Goodbye to Service Discounts Forever in Your Salon or Spa

When business is a little slow, the first strategy many salon owners turn to is discounting their services.  While discounting may seem like a sure-fire way to get people into your salon, it could also be a sure-fire way of going broke. As a business coach and mentor, I believe discounting is simply a substitute…

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Why Scrimping On Quality Could Be Costing You A Ton of Money

Good salon operators always try to maximise money in and minimise money out of their businesses. But can minimising investment on the wrong things actually be costing you potential revenue? I believe it can, and in this article, we’ll take a look at several different areas in your business where too much scrimping may be…

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Do These 2 Simple Things to Boost Your Profits in the New Year

At the beginning of every year, salon owners worldwide tell themselves that this year is going to be their best year yet. This is a fantastic goal, but like all goals, if it’s not actioned, then it’s simply a dream. And unfortunately, dreams seldom turn into reality. So to get you kick-started for a better…

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Understanding Profit and Loss in Your Spa

The majority of hairdressers and beauty therapists love being creative and caring for their clients. They are passionate about their treatments and their customer service, but unfortunately, that same passion does not seem to extend to “doing the figures” in their business. It’s simply something they don’t enjoy doing, and they find it frustrating and…

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