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Tag Archives: Revenue

Financial Management

  No matter whom it is you consult with, spa industry experts will tell you it’s all about the numbers and how to take them from paper, to profits. So the focus of this article will be how to take … 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 →

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 →

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 →