<h2 class = 'uawtitle'>How Financial Goal Setting Can Greatly Increase Beauty Salon Profitability</h2><br />
<div style='font-style:italic;' class='uawbyline'>by Michael Colosi</div><br /><br />
<div class='uawarticle'>Set extraordinarily clear finance targets for every week, month, quarter and year and tie the earnings in with your price of operation. Every staff member wishes to appreciate how much it costs for each stylist's chair and surrounding space (hire, resources, support staff, wages, capital investment, taxes, etc) and how much money must be generated to reach a break even point every month and at which point will they receive a performance bonus. <br />
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If you operate very clearly on the numbers, then your team will know exactly where they stand each day of the month and will work with you to maximise revenue. The more clear you are with the numbers, the more ownership your workers will have in elevating the profi ts, as they'll individually and jointly benefi t. <br />
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Each stylist, depending on seniority, will be exceedingly clear on how much it costs every month to operate his/her work-area. They will be given a once a month target to achieve and you can design an incentive scheme in order that they will be given a share of cash when they exceed their targets. Involve the support staff by setting a team target and bonus entitlement for every worker when targets are achieved. Aside from fi nancial, you can also implement other rewards like staff vacations, special gifts, celebration dinners, weekly breakfast, lunches etc. <br />
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Operating your business this way will allow you to plan your individual growth and be prepared for slow periods or lower revenue creating months. If you and your team consistently achieve your targets, then you can incrementally elevate by 10-20% occasionally. <br />
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If you're not achieving your targets, you will have to check your operating costs vs your promoting and how much cash you have to bring in every day to be lucrative. It's only when you're employed with correct numbers that you can plan more strategically.<br />
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You'll already run your salon on a consignment basis and your stylists manage their own list of clientele independently. Your monetary operations would be managed differently with a regular stream of rental revenue deriving from each active stylist. From this operational arrangement, your earnings will be limited and capped due to the fi xed negotiated rental charge you charge your stylist.<br />
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<div style='font-style:italic;' class='uawabout'><br />
About the Author:<br />
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<div class='uawlinks'> For serious and proactive spa and salon owners, Michael Colosi is offering an amazing in depth no-cost report that details ways that you can get a substantial amount of new clients flowing into your spa or salon business....this month. Just visit: <a href="http://salonandspamarketingtoolkit.com">Marketing A Hair Salon</a> Report and grab your copy now to get your <a href="http://www.facebook.com/HairSalonMarketing">hair salon marketing</a> into overdrive. </div><br />
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New Unique Article!<br />
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Title: How Financial Goal Setting Can Greatly Increase Beauty Salon Profitability<br />
Author: Michael Colosi<br />
Email: dirasu.30011.0@articlesamurai.com<br />
Keywords: salon profitability,hair salon profitability,beauty salon profitability<br />
Word Count: 377<br />
Category: Marketing<br />
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