Plan for Success in 2011

 You will have definitely heard the saying "Failure to plan is planning to fail" and it's too true.  Salon owners, from my experience, are generally wonderful and caring people with loads of talent and optimism but generally they are pretty reluctant to sit down and PLAN for their future business success.

image by jscreations

 
Before you can start out on your journey to business prosperity, you need to know what route to take to get you there as quickly and efficiently as possible.  This means creating a plan for success.

Let me ask you a few questions to help you get your plan started for 2011.

1. How much profit (after your wages) do you want your salon to make in 2011? Be precise here, is it $25K, $50K or more?
2. After adding your projected expenses back on to this figure, what turnover does your salon need to achieve.....exact amounts here please?
3. Ok, now that you know how much your salon needs to take, what does that break down into as a weekly figure. 
4. Great, now you have some idea of what your salon needs to be taking every week to meet your financial goals.  The next question is, how are you going to achieve this?
5. Here are some things that you can ask yourself to get started:
1. Is it time to have a price increase on services and if so how much should it be considering the cost of providing each service?
2. Am I ready to retail a more profitable line of product where I can earn more dollars per sale?
3. Is my roster aligned properly to the amount of work coming into my salon or do I need to measure this more closely to find out?
4. Are there better, more profitable services I could be offering to my clients?
5. Is it time to train my staff in better retail and service upselling techniques?
6. Can I possibly reduce my overheads and do a better deal on most of my expenses?
7. How can I retain my clients more effectively and therefore save tons of money on expensive and mostly unnecessary marketing campaigns?
8. Are all of my staff rebooking each and every client before they leave the salon?

Now this list is not comprehensive by a long shot, but it will give you a starting point for your 2011 business plan.

If you would like help to plan your year, please give me a call or send me an email to discuss how you can become more profitable this year.


Wishing you prosperity and success for 2011
Pam