Increasing Profits

by Pam Stellema

More Profitable Promotions

Create More Profitable Promotions for Your Salon or Spa

Module Introduction

Many salon owners run promotions almost non-stop with the mistaken belief that quantity of sales, rather than quality of sales, is what will make them more profit.  Not so!

It’s easy to achieve busy-ness in your salon or spa by simply lowering your prices (discounting), but being constantly busy is no guarantee that you will make any profit.  Busy-ness does not necessarily equal profitability. 

Promotions should NOT be about getting clients into your salon at ANY cost…

Overview

This comprehensive module shows you how to produce a great promotion that both you and your clients will love.

It aims to help you plan your promotions for greater profitability, while still providing excellent value for your clients. A true win-win scenario.

This module includes a PDF document outlining:

  • Getting clear on the purpose of your promotion.
  • Re-activation promotions – why they’re different.
  • Why good promotions should focus on profit not just revenue.
  • Why you should stop discounting and start value-adding.
  • How to combine the right services for a profitable promotion.
  • What is the difference between your primary and secondary services?
  • How to price your promotional offers.
  • Why you should choose your most popular services to include in your promotions.
  • How to target the clients most likely to buy.
  • Measuring your results.

Information Pages: 22

Included Resources in editable Word format are:

  1. Primary and Secondary Services Template
  2. How to Complete your Promotion and Packages Template
  3. Your Promotions and Packages Template
  4. How to Complete the Profitable Promotion Planner
  5. Profitable Promotion Planner
  6. Monthly Promotion Tracker

Templates, Samples, Trackers and Planners: 6

Price: $47.00

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Markups and Margins

Solving the Mystery of Markups and Margins

Module Introduction

If the terms ‘markup’ and ‘margin’ leave you scratching your head and feeling flustered, then this is the perfect module for you.

Even though the two words are often heard interchangeably, they have completely different meanings and anyone who is in the business of retailing must get their head around the difference.

Over the years, I’ve heard suppliers tell salon owners, “Your profit margin is 100% on our range of skincare” when in fact, they meant that the markup was 100% which means that the profit margin was actually only 50%.  Confusion around the meaning of these two terms can have a seriously negative impact on your profits, so let’s clear things up once and for all…

Overview

This module explains, in simple terms, the difference between a markup and margin and why it’s so important for you to understand the difference. It also includes an easy-to-understand Markup & Margin Chart for you to reference when pricing or discounting your products and services.

This module includes a PDF document outlining:

  • Margin vs Markup.
  • What’s the difference and why does it matter?
  • How to calculate markup %.
  • How to calculate margin %.
  • Many actual examples to help you easily understand markup and margin percentages.

Information Pages: 11

Included Resources in editable Word format are:

  1. Markup and Margin Chart
  2. Markup/Margin Worksheet

Chart and Worksheet: 2

Price: $15.00

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Retail Mastery for Salons and Spas

Retail Mastery for Salons and Spas.

***Companion Module –  Choosing the Right Retail Range

Module Introduction

Salon and Spa owners are no longer able to rely solely on revenue generated from services to meet their expenses and generate a healthy profit. In the majority of cases, profits derived from services alone are simply not sufficient to furnish, equip, or run a salon that delivers cutting edge treatments.  

A strong focus on retailing will provide higher profits, and so, it’s now more important than ever for every salon and spa to generate substantial retail sales.

To improve your retail sales requires a multi-pronged approach.

This Information Module includes 3 sections that cover:

  • Why it’s important for your salon to focus more intensely on retail sales and which one makes the most profit.
  • How to get your team members motivated to sell retail.
  • How to encourage your clients to buy.

 

Who will benefit from this Accelerate Module?

Any salon or spa owner/manager who is responsible for increasing retail sales overall and training their team members how to increase theirs individually.

This module includes a PDF document outlining:

SECTION 1 – Your Business

  Introduction

  Service to Retail Profit Comparison

  Choosing the Right Retail Product Range

  Retail Product Pricing, Placement and Display

 Action Steps Summary

SECTION 2 – Your Team

 11 Ways to Motivate Your Team to Sell Retail

 Retail Targets and Bonuses

 Bonus Payments

 Action Steps Summary

SECTION 3 – Your Clients

 5 Ways to Subtly Encourage Your Clients to Buy Retail

 5 Steps to Secure a Sale

 Action Steps Summary

Key Points for Successful Retailing

Total printable pages 69.

 

Included resources in editable word format are:

  1. Profit Comparison Template
  2. Complementary Product List
  3. Retail Product Sales Checklist
  4. Team and Client Motivator Checklist
  5. Mark-up and Margin Chart

Templates, Checklists and Charts: 5

Also available HERE

Old Price: $47.00

Price: $37.00

You save: $10.00

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Sale

Choosing the Right Retail Range

Choosing the Right Retail Range for Your Salon or Spa

Module Introduction

If you want to make retail sales a big part of your revenue, then there are several things to consider before investing a large sum of money on a product range for your salon. Let’s take a step by step look at the things you should reflect on before taking the plunge.

Your Target Market
I’ve worked with many salon owners who’ve struggled to sell retail. No matter what they do, they simply can’t entice their clients to purchase retail from them. What I’ve found to be the biggest issue for these salons is a mismatch between their product range and their target market…

Overview

Choosing the right product range for your salon or spa is essential.  If you choose the wrong range you may not be able to meet the needs of your clients and this, in turn, can reduce sales of both services and retail products.

Having the right supplier is also necessary to ensure ongoing support for your business.

This module discusses all these issues and gives you important insight into which product range is going to tick all the ‘must-have’ boxes if it’s going to be a great fit for your business.

This module includes a PDF document outlining:

  • How to identify the needs of your target market.
  • What to expect from your supplier.

Included Resources in editable Word format are:

  1. Checklist for Choosing the Right Retail Range
  2. Checklist for Product Supplier

Pages: 11

Price: $22.00

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Coupons and Discounts

Coupons and Discounts

Module Introduction

Too often, the first and only strategy many inexperienced salon owners turn to when they want to generate more revenue or attract new clients is to discount their services.

This is the “lazy person’s marketing tool” because it requires no imagination at all to implement. What it does do is create the false illusion that you’re generating more profit, when in fact, you’re actually working harder for less money and in some cases, no profit…

Overview

Many salon owners make the mistake of believing that any business is good business, without taking into consideration the financial and emotional impact it may bring with it.

There is no doubt that coupons generate more clients, however, are these clients an asset or liability to your business? This module looks at the pros and cons of coupon and discount marketing.

This module includes a PDF document outlining:

  • How coupons and discounts can generate losses for your business.
  • What you can do instead of discounting.
  • A truthful look at the financial impact of coupon promotions.
  • The impact of discount coupons on your existing clients.
  • The impact of discount coupons on your team.

Included Resources in editable Word format are:

  1. Profit and Loss Calculation Sheet for Coupon Promotions Template

Pages: 12

Price: $15.00

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How to Cost Your Services

How to Determine the True Cost of Your Services

Module Introduction

Why spend the time to work out the cost of delivering your services?

Why not simply use the calculations and recommended selling price that your suppliers provide, or even just hazard a guess based on what other salons in your area are charging?

The reason is simple – until you absolutely know what your services are actually costing you to deliver, you can’t accurately determine a profit-generating selling price.

Every salon is unique in the way it creates and delivers its services, and because of this, no two salons can offer their services for the same selling price and still make the same profit…

Overview

This in-depth module covers everything you need to know to calculate the cost of the services you provide in your salon and spa.  Once you know what each service costs to provide, you can be certain you’ll never sell any service without the desired profit margin again.

This module includes a PDF document outlining:

  • Why you need to know the cost price of your services.
  • How to determine the cost of your services accurately.

Information Pages: 17

Included Resources in editable Word format are:

  1. Master Costing Template – Products
  2. Master Costing Template – Consumables
  3. Master Costing Template – Individual Service Cost
  4. Service Profitability Summary Template – By Category

Templates: 4

Price: $37.00

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Increase Service Prices Without Losing Clients

Increase Service Prices Without Losing Your Clients

Module Introduction

Being in the beauty business is financially demanding. New treatments, technologies, products & training all require a hefty and ongoing financial investment.  As well as these specialised expenses, your general expenses such as rent, overheads, insurances, professional products, and wages, to name just a few, also continue to increase in cost at least once per year.

So, what happens to your business if you avoid increasing your prices and decide instead to absorb these increasing expenses?  Well, you run the real risk of eventually running your salon either at a loss or not generating enough profit to continue to move forward; and neither of those is a great business growth strategy.

Nothing is more soul-destroying than working incredibly hard doing what you believe are ‘all the right things’, only to find out that you’ve made no profit at the end.

Overview

To stay in business, healthy and profitable, you need to have regular price increases to offset ever-increasing expenses. Some salons hold off increasing their prices for too long and then make the mistake of having to have a massive increase in one hit to try and stay financially afloat.

There is a simple technique you can use to increase your prices without negative customer feedback and this module covers what you need to know to accomplish this.

This module includes a PDF document outlining:

  • Staying Profitable
  • The Slide into Unprofitable
  • What To Do Before You Increase Your Service Prices
  • When to Tell Your Clients
  • How to Handle a Client Complaint
  • An Acceptable Price Increase
  • How to Spread Your Price Increases
  • What to Do When You Need to Make More Revenue Urgently
  • Service Menus
  • Key Point Summary

Information Pages: 33

Included Worksheets, Charts & Scripts in editable Word format are:

  1. Team Brainstorming Worksheet
  2. Voucher Promotion Script
  3. Client Complaint Scripts
  4. % Increase Chart
  5. Service List Breakdown Worksheet
  6. Service Price Increase Worksheets
  7. Top 25% of Services Worksheet
  8. Client Letter – Price Increase

Worksheets, Scripts & Charts: 8

 

Price: $47.00

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Selecting the Right Services for Your Beauty Business

Selecting the Right Services for Your Beauty Business

Module Introduction

What are the right services to offer your clients so that you maximise client spend?

It’s a hard question to answer, and in this module, we’ll look at various factors that must be considered before you decide which services to include on your menu and which to leave out.

Copying what your competitors offer may feel safe, but who’s to say they’ve made the right choices? How do you know that the big investment they’ve made in expensive product and equipment is bringing them in a healthy profit, because in many cases, it isn’t, and they are left with unused expensive equipment that is simply collecting dust in the corner.

It’s important to your success that you are clear about what services your target market want from your business and, more importantly, what they’re prepared to pay for those services.

Also, you want to be able to offer something unique in your marketplace so you stand out from other salons in an over-crowded marketplace. This means understanding what other competitors are offering or not offering.

This module includes a PDF document outlining:

  • Identifying Your Real Competitors
  • How Most Salons Choose Their Services and Why It’s Flawed
  • The 5 Service Selection Criteria
  • Mini and Express Services
  • Action Steps Summary

Total printable pages: 24

Included Resources in Editable Word format are:

  1. Identifying Your True Competitors
  2. Service Profitability Comparison
  3. New Service Client Survey
  4. Competitor Price Comparison
  5. Potential Services Rating
  6. Service Training Required
  7. Renaming your Mini and Express Services

Templates, Survey: 7

Price: $27.00

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Market Your Beauty Biz Like a Pro

Market Your Beauty Biz Like a Pro

Module Introduction

Every business needs to market itself. As the saying goes “You can’t sell a secret”, therefore you have to tell your prospective clients and your current clients what you have to offer in order to create sales. And to do this, you have to successfully get your message out to the right people, at the right time using the right marketing strategies.

What is Marketing?

Many people confuse the concepts of marketing and advertising. They are different. For me, marketing is what you do to get your service or products into the hands of your clients. Advertising is therefore a part of marketing – but not the whole package!

Planning Your Marketing

A good marketing plan is not solely about gaining new clients. It has many other important duties.

When you market your salon or spa, your goal should be to achieve one or a combination of the following:

  • Attract new clients
  • Keep the clients you already have
  • Reclaim missing clients
  • Increase the clients’ spend amount
  • Increase the frequency of client visits
  • And of course, all of the above should also have the end goal of making more revenue and more profit for your business.

Overview

Marketing is a must for every business and this module not only provides you with loads of different marketing ideas, it also provides a 12-month Marketing Planner Template that will make planning your monthly and yearly marketing a breeze.

This module includes a PDF document outlining:

  • What is Marketing?
  • Planning For Marketing Success.
  • 31 Proven Marketing Strategies for Spas and Salons.
  • How to Create a Profitable Promotion.
  • 42 Special Occasion Promotion Ideas
  • Create Your Marketing Plan.
  • How to Use Your Marketing Plan Template.

Information Pages: 88

Included Resources in editable Word format are:

  1. 12-Month Marketing Planner
  2. Primary and Secondary Services Worksheet
  3. Promotion Goal Worksheet

Worksheets & Planners: 3

Also available HERE

Price: $67.00

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Upgrades and Add-on Sales

The Simple Secrets to Successfully Up-Selling Salon Spa Services

Module Introduction

Have you ever stopped to consider what impact a small additional service sale to each client would have on your profit margin?  It’s much greater than you probably realise.

When additional services, that cost you very little in extra product and time, are regularly provided to clients, it can result in lots of healthy profit for your business.   And who doesn’t want that?

Even a small salon or spa, with as few as 3 operators, could generate an additional $45,000+ in revenue each year simply by increasing the average client-spend by as little as $10.

Overview

You know as well as I do the value to your business when you can increase the client spend consistently. The difficult part is the ‘consistently’ part of the formula.

This module shows you how to introduce this highly profitable strategy into your salon in a consistent manner and add thousands of additional dollars to your revenue each month.

This module includes a PDF document outlining:

  • Why your salon or spa must up-sell services
  • 5 Secrets to Up-selling Success
  • Overcoming Employee Resistance to Selling
  • Overcoming the Major Obstacles to Sales
  • How to Conduct Effective Team Training for Up-Selling
  • Goal Setting
  • Your Leadership Role

Information Pages: 30

Included Resources in editable Word format are:

  1. Weekly Goal Setting Template by Day
  2. Master Template – Complementary Services List
  3. Team Members – Brainstorming Template
  4. Sample In-salon Sales Script
  5. Sample Booking Sales Script

Templates, List and Scripts: 5

Price: $30.00

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Keeping Your New Clients

Discover How to Retain More New Salon and Spa Clients

Module Introduction

I’m often asked by salon owners to help them attract more new clients for their struggling and unprofitable salons.  They believe that gaining more new clients is the answer to their business woes, and so, the majority of their marketing efforts (and dollars) are continuously focussed on gaining more new clients.

However, if you review your figures for the past year, you’re almost guaranteed to find that your salon has actually had bucket-loads of new clients coming through your doors.

Unfortunately, in most cases, a fairly big percentage of them didn’t stick around and become regular, loyal clients…and this is why focussing on client retention is actually more important than continuously looking for new clients.

Overview

This comprehensive module explains why it’s important to have specific strategies in place to increase the retention rate of new clients.  It also outlines the 9 major action steps required to implement these strategies.

This module includes a PDF document outlining:

  • Why retaining new clients is vital to your salon growth.
  • The 9 major action steps required to retain a new client.

Information Pages: 17

Included resources in editable Word format are:

  1. Salon Audit Checklist
  2. Client Information Card Template
  3. Client Consultation Form Template
  4. New Client Welcome Letter Template
  5. Follow-up Phone Call Script Template

Checklist, Templates, Letter, Script: 5

Price: $45.00

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Revenue & Profit

Revenue & Profit.  

How they’re different and why it’s important!

Module Information

This Revenue & Profit business module is not lengthy, but it is important.

The fact is that many salon and spa owners constantly chase high revenue (also often referred to as turnover or earnings) in their salons in the mistaken belief that high revenue will automatically also mean high profits.

Let me be 100% clear about this – it doesn’t!

When you realise that increasing your revenue is not a guarantee that you’ll increase your profits, you’ll better understand the real risks involved in:
1. pricing your services too low to attract volume sales, and
2. running salon promotions based on heavy discounting of services.

Overview

Many business owners confuse revenue with profit but they are NOT the same thing.  This confusion negatively affects the way they market their services and in turn, leads to loss-producing promotions and treatments.

If you’re not clear on the difference between the two, then this short module is a must-have for you.

This module includes a PDF document outlining:

  • What is Revenue?
  • What is Profit?
  • How to Maximise the Profit on a Service Sale
  • Being Busy vs Being Profitable

Information Pages: 10

Included resources are:

  1. Profit vs Revenue Wall Chart

Price: $10.00

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Packaging Your Services

Learn How to Profitably Package Your Salon or Spa Services

Module Introduction

Courses and Programs

The sale of service courses and programs is very beneficial for salons and spas. The four main advantages of offering a program or course of services are:

  1. The client will achieve a better result as she has to commit to a series of services that will improve her condition.
  2. The client is committed to your salon throughout the program.
  3. You receive pre-payment from the client.
  4. Because the client is not paying at each visit, she is more likely to purchase other services and products throughout the duration of her course or program.

Overview

One of the best ways to keep your clients returning is to have them pre-pay for a series of treatments.

Not only does this generally provide an improved outcome, but it ensures they will return to your salon and spa throughout the course/program.

This module steps you through creating courses and programs to entice your clients to pre-pay and stay.

This module includes a PDF document outlining:

  • What constitutes a Course and Program.
  • Pre-payment incentives.
  • How to create profitable Courses and Programs.

Information Pages: 7

Included Resources in editable Word format are:

  1. Course Template
  2. Programs Template – Examples
  3. Program Template
  4. Special Menu Template

Templates: 4

Price: $30.00

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The Ultimate Guide to Service Menu Creation

The Ultimate Guide to Service Menu Creation

Module Introduction

You’ve decided it’s time to revamp your Service Menu. Fantastic! However, before you quickly throw something together to get by, consider how the act of creating a new Service Menu will give you many opportunities to review and improve your business also.

Don’t be lured into thinking that just anything will do for the moment because it won’t! Too often, once you’ve done this, it will be way too long before you revisit your Service Menu again, and this will result in many lost opportunities to increase your revenue and grow your business.

Your Service Menu, whether it be physical or online, is often the first point of contact for prospective clients. With that being the case, it’s essential that you clearly and concisely deliver the information about your services in a way that makes your readers want to experience them…

Overview

This comprehensive business information module covers all you need to know to produce an outstanding service menu for your salon and spa.

Your service menu is a sales tool for your salon, both for prospective clients and current clients.  It must be clear, focused and concise while still guiding readers to choose the most beneficial and profitable services you offer.

This module includes a PDF document outlining:

  • The Role of Your Service Menu
  • Quality and Presentation of Your Menu
  • Research First
  • Pinpoint and Promote Your Unique Point of Difference
  • Information Essentials
  • Service Categories
  • What Services You Should Include
  • What Service You Should Exclude
  • Service Descriptions
  • Service Placement
  • Salon Policies and Etiquette
  • Menu Readability
  • Images
  • Menu Dimensions
  • Menu Inserts
  • Quantity Required
  • Summary

Information Pages: 45

Included Resources in editable Word format are:

  1. What Makes My Salon Unique Template
  2. Service Menu Checklist
  3. Services and Categories Template
  4. High Profit/Popular & Low Profit/Less Popular Worksheet
  5. Service Addition, Deletion and Alteration Template
  6. Descriptive Words and Phrases List
  7. Phrases That Describe Benefits List
  8. Service Name Conversion Template
  9. Service Listing by Category Template
  10. Salon Etiquette and Policies Samples

Templates, Worksheets and Lists: 10

Also available HERE

Price: $47.00

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