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Detoxify Your Spa Business and Plan For Financial Health!






     Toxins are deadly; not only to our bodies, but also to our business. When was the last time you gave your business a good check-up and detoxification? Been a while? Now is the perfect time to do it! As the years go by, we always hope and pray that the next year is going to be better than the previous one. But the only way that becomes reality is if we make changes/improvements.

There is a saying, "What got you here won't get you there"! To gain new results, you need new action! You need to detoxify and implement healthy habits. It's time to practice what you preach to your clients!!!

The Business Detoxification Plan

1. Financial Detoxification: What is keeping you from having a healthy business?
Run your annual financial reports:
• Balance Sheet
• P&L; Statement
• Cash Flow

Calculate your Financial Ratios:
• Overall Revenue
• Operating Expenses
• Compensation
• Profits

Would you give your business performance an A, B or C? Hopefully, not a failing grade! Most important is that you made a profit and you paid yourself. Did you? Discover what is making money and what is not. Purge what is not.

Strong Financial Health Strategies:

1. Two quick ways to boost your revenue in 2013

a. Focus on Building Your Membership Business Do you have a Membership Program? If yes, I am sure you can have your reception team promote it more and sign more people up. If you don't have a membership program, it's time to implement one! Memberships are a great way to increase retention rate and revenue.

b. Get Serious about Retail Sales Opportunities To improve spa retail sales, I encourage you to implement new guidelines regarding employee sales. Set some consequences to enforce and watch your sales soar! You Can Do It!!!

2. Organizational Structure - The 5 Ws. Who, What, Where, When, Why… Is it clear to everyone what you are trying to accomplish and how you are going to get there? Or is everyone singing from their own hymn book? It's time to let go of toxic team members. If they don't want to sing your song, they need to join another group. Enough is enough!

Healthy Organizational Strategy
Publish defined position descriptions, employee manual, expectations, policies, procedures, systems, etc. Clarify who is who so there is no confusion.

3. "You've Got to be Kidding Me" Guest Experience
Your guest experience is a direct reflection of your retention rate. If you have a high retention rate, this indicates that your team and your guest experiences are great. If you have a low retention rate, you not only have toxins, but cancer as well. You need Emergency Work and Intensive Care! How good is your retention rate?

Healthy Retention Rate
The easiest way to increase retention is by delivering a great and consistent guest experience. You need to have a skilled spa team, engage your clients, build relationships, stay in touch, and get feedback... Implement Healthy Habits and you will have lifetime clients and sales will soar!

4. Toxic Team
Your team can make you or break you. Some leaders always have an excuse for bad performance. There is only one reason for bad performance: Not being prepared and not having a plan. It's just like when you are in school and have a test. If you didn't study and don't do your homework, you are going to fail. Stop the excuses. Take a good look at your team and your leadership skills. Are they good students or are they failing?

Healthy Team
Recruit and hire RIGHT from the beginning! Recruit the right people and build a strong team. Set expectations from the very beginning. Make them sign a Commitment Agreement that outlines your standards. Let them know you are serious about success. If you already have a team, you may want to have everyone re-interview or have a Fresh Start meeting. Set a new, healthy path for your entire team!

Go ahead, DETOX Your Business and Get HEALTHY!

Copyright (c) 2013 InSPAration Management




Article Source: http://www.abcarticledirectory.com


Dori Soukup is a recognized spa consultant, expert, speaker, coach and author. Dori is the founder and CEO of InSPAration Management, a business firm that specializes in providing business solutions to spa and salon leaders. The firm offers education via CDs, DVDs, Coaching Memberships, Seminars, and more. To learn more, visit http://www.InSPArationManagement.com


Posted on 2013-05-24, By: *

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Note: The content of this article solely conveys the opinion of its author,


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