The Dirty Truth about Salon/Spa Service Payroll Costs

March 13, 2022 | By Neil Ducoff | No Comments

The Strategies benchmark for service payroll is 30 to 35 percent of total revenue (Service Sales + Retail Sales = Total Revenue) … as it appears on a Profit and Loss Statement. Each time we post this benchmark on the Strategies Salon/Spa Idea Exchange Facebook discussion group, owners say, “No one will work for that commission rate.” And of course, stylists and other service providers post high-attitude comments like, “I…
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Categories: Compensation

Teamwork is “WE” Work

March 5, 2022 | By Neil Ducoff | No Comments

The challenge: The vast majority of salons and spas set individual weekly/monthly service and retail goals for service providers. The “company goal” is rarely or never shared, if known at all. The outcome: When the workday begins, each service provider is focused on his or her individual goal because no company goal exists. Total salon/spa revenue is simply the total of individual performance. FACT: It’s hard to achieve a company…
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Categories: Leadership , Teamwork

Why Salon/Spa Profit Matters

February 27, 2022 | By Neil Ducoff | No Comments

Profit is a strange little beast. Salon/spa owners fight for it — even obsess over it. And if you’re not fighting to create profit, you absolutely should be. FACT: Profit doesn’t mean cash in the bank. It’s like profit is some sort of sick mind game where you can be profitable and broke at the same time. Even crazier — profit can be negative for extended periods and you’re still…
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Categories: Financial Literacy

It’s The Most Awesome Salon/Spa Financial Report Ever

February 20, 2022 | By Neil Ducoff | No Comments

OMG! Could there really be one absolutely awesome financial report? And if it does exist, what amazing things could that one report tell you about your salon/spa business? For starters, it would tell you just how financially healthy your business really is. It would tell you if your business was getting healthier, if its financial health is declining, or if it requires life support. It would tell you how much…
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Categories: Financial Literacy

Year 3 of Covid: How One Salon Owner Rediscovered Her “Why”

February 13, 2022 | By Neil Ducoff | 2 Comments

Leslie Winterrowd is co-owner of Goldwaves in Fort Worth, Texas. Her mother, Judy Rice, started the company 34 years ago. Leslie joined the company 22 years ago. For perspective, Goldwaves did $1.7 million in 2021 and has 22 employees. They have been a Team-Based Pay company since the early ‘90s. In addition to leading Goldwaves, Leslie is a long-time Strategies Coach. She’s a great leader and not afraid to share…
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Categories: Leadership

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