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Tag Archives: Finance

Staff Compensation

A question submitted to Spas2b: I know that what you pay your staff is the most important expense category, but how do you match up what employees want with what you can afford to pay?   Our Response: Sometimes you … Continue reading →

Constructing your Spa’s Business Plan

  Focus on Potential and Opportunity – Generate Interest and Excitement! Whether you are just starting up your Spa, or you are a seasoned veteran, you need to have a Business Plan. At some time or another, you will require … Continue reading →

Average hourly service price

A question submitted to Spas2b: I recently heard that there is an easy forumula that you can use to calculate your average hourly service price. Can you help me find that information to help speed up the process?   Our … Continue reading →

How should we charge for group bookings?

A question submitted to Spas2b: We have a question in regards to a large number of patrons (10)booking the spa on a Saturday. We have charged a rental fee in the past, and asked that everyone has 2 services done. … Continue reading →

Calculations for Services

A question submitted to Spas2b: When calclulating $/hr and GM% should the time needed for cleanup be added into the service time? I.E. A manicure may take only 25 mins for service, BUT takes a few minutes for set up and … 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 … Continue reading →

Know your Key Performance Indicators (Key Metrics)

  Key Performance Indicators are your Spa’s measures of success. KPI’s measure your Critical Success Factors (CSF) and CSF’s are what your Spa must excel in, to succeed at doing business. There are KPI’s for both retail and services. Choose … Continue reading →