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Tag Archives: profitability
4 Ways to Calculate Client Value and Grow your Business
Not all clients hold the same (potential) value when it comes to your business. So it’s important to consider why you might be handling a client you only see twice a year, the same way you are handling a client that comes in every week. Continue Reading…
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…
5 Thought-provoking Profit Models
Your pathway to profitability lies fully in understanding your customer…and yourself.
You may understand physical energy, but do you understand financial energy? It’s very difficult to keep making money, let alone be profitable, if you have boxed yourself into a no-profit model. Continue Reading…
Figuring out my service profits
A question submitted to Spas2b:
What things should I be considering when I price my services so that I can make a profit?
Our Response:
You will probably know about where your services should be positioned if you have:
Consulted with your suppliers on average service prices for each treatment;
Done a service costs analysis (as shown below), and
Conducted an analysis of your local competition.
Continue Reading…
Improve Business Outcomes with our 5 Business Basics
1. On Demand Monitoring System
It should be quick and easy for you to obtain an instantaneous status report on sales and services, any time of the day. When you aren’t on site, or simply when you need to know, your front desk should be able to call up this data and recite results, on the spot. Continue Reading…
Can you make a profit with a small spa vs. a large one?
A question submitted to Spas2b:
What is the best size to make the best profit? Can a small spa make a profit, or is this only something a larger spa can achieve with expensive treatments?
Our Response:
Profitability can be accomplished by both small and large spas. Continue Reading…
Top Business Boosters – Part 1 of 3
1. Stay “Tapped in”
Being on top of whats trending is the jumping off point for anyone looking for deeper rewards and a more lucrative future. There are many ways to grow your business, most of which will build momentum gradually and prove themselves with time. Continue Reading…
Top 3 Business Boosters – Part 2 of 3
2. Analyze Client Profitability
Handle your Clients according to the value they bring to the business
“You will be most successful if you are a business who is diligent in gathering customer data and then providing initiatives that will encourage those customers to become even more profitable to the business.”
We know that our most valuable customers are those who have come in recently; who shop with us frequently; and who spend a lot of money when they visit. Continue Reading…
