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Tag Archives: Margin

The #1 Formula Spa Managers must know when Discounting

Fotolia_32331787_XS  Spa Managers need every relevant tool available to them, in order to make sound business decisions regarding cost containment and profitability.  It is vital for Managers to know how to measure and evaluate each spectrum of business performance in … Continue reading →

Identify your ‘Top Tier’ most Profitable Spa Services

  Spas2b is happy to have been invited as a Guest Editor for the Global Spa & Wellness Summit on identifying your most profitable service performers, for better profitability.  If you need to know more about positioning your services for profit and … 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 … 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 … 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, … 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 … Continue reading →

DIY Mini Business Audit – Abbreviated Version

Now is the time to do more of what’s working 1.  Examine Staff Compensation If you’re seeing red, the first place you need to go is your Cost of Goods (COG) to review your service staff compensation.  Consider this:  to see … 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 … 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 … Continue reading →

Top 10 Best Spa Practices

Monitor Top 3 Priorities 1.  Staffing – Maintain a deep pool of talent with ongoing recruiting, evaluations and fine-tuning. 2.  Finances – Compare service and retail projections to actuals – weekly, monthly and annually. 3.  Customer Attraction – Graph your seasonality … Continue reading →