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Tag Archives: Discount
Rising Supplier Costs = Raising Spa Prices – Part 2
In Part 1 of this 2-Part Blog Series on Rising Supplier Costs, we talked about ’reflecting’, not ‘absorbing’ price increases, as well as the importance of setting standards for price increases in your business, ongoing.
In this Part 2, we’ll discuss the importance of cost containment in 3 vital areas; and how to increase your prices by using a spiraling method that will minimize the ‘shock wave’ and maximize your chances at profitability. Continue Reading…
Rising Supplier Costs = Raising Spa Prices – Part 1
This Part 1 of our 2-Part Blog Series on Rising Supplier Costs will cover the importance of ‘reflecting’, not ‘absorbing’ price increases, as well as an introduction to setting standards for price increases in your business.
Running a profitable spa business takes experience and know-how
It’s very important that you watch that thin line between profit and loss like a hawk. Continue Reading…
Product Margins
Just as it is beneficial for you to understand your service margins, it is also beneficial to understand your product margins.
The standard mark up on branded skin care products is 100%, or 50% gross margin. In other words, if you purchase a product for $50., you sell it for $100. Continue Reading…
Service Margin Analysis
Look ahead towards change and improvement
Understanding which of your services have a good level of profitability and which ones do not is paramount to the success of your business. This information can be included in the development of your yield (revenue) management system, providing you with information that will uncover ways to boost your revenue and help control your costs. Continue Reading…
Revenue (Yield) Management
What is it?
Yield Management is zeroing in on the best mix of services and products to sell at given times to generate the highest revenue and profit.
It all about better managing your financial outcomes.
There are business measures that have been used for many years in the hotel and airline industries that help to maintain a consistent, somewhat controllable, even predictable bottom line during seasonal highs and lows and fluctuating supply and demand. Continue Reading…
