November 7 - 15, 2021 | 11am - 5pm
Incubator Online
Here’s what you’ll learn during Incubator Online
A FOUNDATION FOR SUSTAINED GROWTH
- Profitability: Utilize the proper tools and systems that drive a healthier future. Learn to make decisions that will lead to positive returns on your time and investment.
- Productivity: Learn what drives every key outcome in your company — and gain the ability to sell more time.
- Staff Retention: Build careers for your team, not just “jobs.” Stop the revolving door and build a true team that is loyal to the business.
- Customer Loyalty: Create fans of your company and unleash the power of a retained guest. Those fans are the lifeblood of your company.
SYSTEMS TO DRIVE GROWTH
- First-time client retention
- Existing client retention
- Productivity
- Retail product per client sold
- Pre-book ratio
- Client receiving verbal/written product recommendations
TEAM-BASED PAY
- Exploding the myths of Team-Based Pay (no…there won’t be a walkout)
- Why no one ever gets a pay cut
- Learn how to reward staff based on their contribution to growth and true quality
- Develop a pay program that encourages and rewards TRUE teamwork
- How your pay program can provide your clients with a better salon/spa experience
- Why top producers have the most to gain…without raising prices or commission rates
- Using Broadbands to map out employee career paths based on performance and skill attainment
- Understanding pay raises
- Moving towards team service
BENCHMARKS: WHAT ARE YOU SHOOTING FOR?
- Annual revenue growth rate per year
- Net profit
- Service payroll percent of total service and retail revenues
- Professional product cost
- Retail product cost
- Target gross profit margin
- Front desk and administrative payroll
- Officer’s salary
- Advertising & promotion
- Rent
- Total General & Administrative expenses
- Cash reserves
The Big 8 Drivers
- Culture: The collective behavior of the company
- Sense of urgency: The energy that drives performance and growth
- Critical numbers: Numbers that, if changed, have a profound impact on the company
- Information flow: Top down, bottom up – everyone knows the score
- Teamwork: The heartbeat of the company that gets the job done
- Innovation: Stay out of the box. Do it better, faster, cheaper
- Systems: The procedures and structure to produce the right results
- Accountability: Delivering what was promised – when it was promised
Pricing Services
- What does it cost to produce a salon/spa/medspa service?
- How to determine if you are making or losing money on your services
- Calculating your costs per revenue-producing hour
- How to find a profitable service price
Skill Certification
- Why your business needs a skill-certification program
- Learn how and why to develop a comprehensive in-house skill certification program to guarantee consistent service quality from everyone on the team
- The three major skill certification training areas: technical, professional/organizational and personal/cultural
- The 6 steps to building a Skill-Certification Program
- Creating the Ideal Client Experience
Leadership
- Leading the Culture Shift to No Compromise
- Your 18-month Incubator action plan
- Implementation Checklist
- The 10 “new thinking” non-negotiables