August 2 - 5, 2020 | 8:00am - 5:00pm
Strategies Incubator Seminar
Single attendee: $1,595
Two attendees: $2,195
Each additional (after 2): $595
We understand what it’s like to be an employee-based salon, spa or medspa owner. You wear multiple hats and, for the most part, are the one person responsible for the success (or failure) of your business.
But running a successful salon or spa isn’t so easy. “Should I really give my top producers more commission? What if they decide to leave and rent a chair? Why aren’t we making any money? When do I get to start getting paid like an owner? When will this be fun again?”
These are serious questions…ones that can have a major impact on the future of your company … and the livelihoods of the families that it supports. You can’t afford to make the wrong decision.
In other words….you don’t want or need “suggestions” that are just a different spin on the same old approach.
What you REALLY want is a detailed blueprint on EXACTLY what to do, using PROVEN systems that have produced REAL RESULTS!
That’s exactly what the Incubator Seminar has been doing for over 24 years. It is the most intensive four-day business program in the beauty industry, designed for owners who are ready to build healthy, profitable, and fun salons, spas and medspas.
Every conceivable business process will be examined and reengineered to meet the rigid demands of growing a salon or spa business in today’s fast-paced, non-forgiving economy.
You will NOT leave the Incubator armed with a re-packaged version of the broken business models that are responsible for the struggles that so many of today’s salon and spa owners now face.
What you will leave with is a vividly-clear vision of your salon or spa’s future that will inspire and benefit every member of your team.
MASTERING THE NUMBERS!
- Understand what all those numbers mean
- Make sense of what your accountant tells you
- Know how to use the information in your financial reports to help you make smart decisions about your business
- The function, difference and connection between the four financial reports: Balance sheet, Profit & Loss statement,
- Statement of Cash Flows and Cash-Flow Projection.
SYSTEMS TO DRIVE GROWTH
- First-time client retention
- Existing client retention
- Retail product per client sold
- Pre-book ratio
- Client receiving verbal/written product recommendations
- 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
- 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
- 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
- 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
- Leading the Culture Shift to No Compromise
- Your 18-month Incubator action plan
- Implementation Checklist
- The 10 “new thinking” non-negotiables
Strategies Business Academy
40 Main St – 2nd Level
Centerbook, CT 06409
Bradley Int’l Airport – Hartford, CT
About 50 minutes from venue
T.F. Green Int’l Airport – Providence, RI
About 60 minutes from venue
Bushnell House – 860.399.4777
Captain Stannard House – 860.399.4634
The Copper Beech Inn – 888.809.2056
The Griswold Inn (B&B) – 860.767.1776
Guest House Retreat & Conference Center – 860.322.5770
Quality Inn – 860.395.1414
Saybrook Point Inn – 860.395.2000
Water’s Edge Inn & Resort – 860.399.5901
Westbrook Inn – 800.342.3162