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Tag Archives: Promotion
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…
Knowing Your Promotional Costs
Do you know what it costs you to run each of your promotions? Again this is an area of great importance, because promotions are not always profitable ventures, however they are always laborious ventures! Let’s provide the example of running a 15% spring discount. 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…
The Spa Director’s Ever-Expanding Job Description
How are you Managing?
Like any Management position, a successful Spa Director develops with education and experience that addresses both their life and business skills. The Director needs to be “equipped” with the best industry-specific practices and guidelines in order to do the job effectively. Continue Reading…
Business slowdowns!
A question submitted to Spas2b:
I’m hearing from many of you that the current economic conditions are (still) deeply affecting your booking schedule. What tactics are YOU using to keep them coming in?
A friend and colleague I interviewed awhile back had this to say:
“For the most part, I believe that going to the spa really is an affordable luxury. Continue Reading…
