Dealing With Financial Pressure

Edited by Admin
Dealing With Financial Pressure

SALON GROWTH & PROFITABILITY

MANEreviews.com's overall commitment is to bring the full story of the passion in hair to the public at large while working with salon owners and their staff to drive business success and sustainability for themselves and the health and vitality of the industry overall. The example below is only the start of the lessons, suggestions, articles, and webinar material we intend to bring to the MANEreviews Salon Business Program section.

THE PROBLEM

 

Financial Pressure

  • Do you feel that operating your salon is a constant financial battle?
  • Is concern over finances affecting your business decisions?
  • Is it affecting your relationship with your staff and their productivity?
  • Is it affecting your relationship with your own clients?

  

Imagine This

  • Having additional tools that help you manage finances that ease your stress
  • Having tools that help you increase your revenue and generate more profit as well

THE SCENARIO

 

Are You Experiencing Any of These?

  • Are you finding that you have a lot of staff but that scheduling them and having them at the salon when you need them most is proving to be a problem?
  • Are you finding that you are overstocked on what you don't need and under-stocked on what you do need?
  • Do your staff walk their client to reception and confirm what the charges should be?

THE SOLUTION

 

Tools To Reckon With

  • Goal setting for your staff
  • Bi - weekly schedule commitments
  • Client check out process at reception
 

 

Tool #1 - Goal Setting for Your Staff

  • A salon in Manitoba implemented a team competition where they split their 24 staff into 2 teams and the teams competed for having the most clients monthly. In exchange for hair service for a restaurant in their Mall, the restaurant hosted the winning team each month.
  • People respond to benchmarks they perceive as value and serve as inspiration. What team or individual targets can you set with your staff that they will embrace?
 

 

Tool #2 - Inventory Control By a Staff Member

  • A salon in PEI rotates a staff member each quarter to oversee inventory and they receive a bonus of 10% on all retail sales for their quarter.
  • What staff do you have that would relish managing inventory and what incentives will work for you and for the staff person so that you both benefit?

 

Tool #3 - Tracking Customer Services

  • Electronic options enable you to track what services a customer has had in their appointment. Whether it's Milano, Demand Force, Timely, Shortcuts, or any others, inquire how they can help you set up a tracking system.
  • Keep in mind that your staff is most likely computer literate and will adapt, even if resistant to start.
 

        YOUR OPPORTUNITY

 

Incentives and Compensation

  • People generally embrace:
    • Friendly competition
    • Bonuses
    • Clarity and Direction
    • Systems that make their lives easier
  • Setting goals and friendly competition will:
    • Foster motivation among staff
    • Increase revenue when the goals are achieved
    • Systems help eliminate unnecessary mistakes
    • Motivated staff and helpful systems help to increase revenue and diminish financial stress while increasing staff productivity
 
One on One Consulting Offer

Our experts at MANEreviews.com are available online, by phone, or in person to work with you one on one and address your specific issues. Together we will explore proven tools that will assist you. We will set homework together and monitor your progress.

Contact:

John Doucette, Business Development

Tel.    1 (647) 980 - 7339

E.       John.Doucette@MANEreviews.com

Designations:

  • Goldwell Certified Master Colorist
  • Master in Cosmetology
  • Cosmetology Educators of America (member)
  • Franchise Sales & Marketing, University of Memphis