Happy December! It’s time to say goodbye to 2014. Are you ready for this? Ready or not, here we go again! We have had such an exciting year! We helped so many spa professionals grow their business, and we also grew 51%! We just moved into a new office building that we bought. We are so thankful for all of you for being part of the InSPAration Management community and for putting your trust in us! We look forward to having a great 2015 where we can all prosper together again! I want to remind you that we are launching two new CoachMe Gold programs in January. You will want to be part of both of them. See the Dori Recommends to learn more about them and discover how they can positively impact your business in 2015. The featured article this month is about How To Do An Annual Spa Business Assessment. Now that the year is just about over, it’s time to make plans for your 2015 success. The Bright Idea this month is how to start the year by gaining a blueprint to help you guarantee your success by attending the Leap Ahead Seminar. January is the perfect time to visit Florida and set yourself up for success in 2015! In the Dori Recommends, we are giving you access to two webinars totally F.R.E.E. If you have not seen them yet, you need to. Let’s finish this year off strong and make 2015 the best year yet! Happy Holidays!
|P.S. A Gift for YOU! Go to InSPArationManagement.com and order your copy of my new book, Spa Business Secrets to Increase Profits, for only the price of shipping and handling!|
CoachMe Gold – Reinvent Your Business! Volume II Topic: Team Accountability For Maximum Results
CoachMe Gold – Make Your Spa Social Media Work For You! Topic: Social Media StrategiesCoachMe Gold – Spa Management Essentials III Topic: Presentation Skills and Sales Fundamentals CoachMe Silver – Solo-Preneur Series Topic: Developing My Growth Structure CoachMe Platinum Friday, December 12th
Not a CoachMe member yet? You owe it to yourself to check it out so you can experience business growth!
Leap Ahead Seminar – Orlando, FL January 12th – 14th To improve your business, you must measure and assess performance. Conducting a business assessment is essential on a monthly and annual basis. Though many spa professionals know they need to do this, we often find spa owners who don’t even see their P&L statement regularly. In this article, you will discover the most important reports and business functions you must assess on a regular basis in order to grow your spa business.
- Your product cost Request a cost per treatment analysis from your vendors and make sure you are pricing your treatments properly. Use the Treatment Pricing Calculator that I gave you as a gift to determine your profit potential. It’s a great tool that will help you understand how to price treatments & increase profits.
- Your operating cost From your P&L statement, you can manage your operating cost. Make sure you have a comprehensive chart of accounts to help you interpret all of your expenses. If you don’t have a budget, get your budget now so you will have a clear expense outline to help you manage your cash flow.
- Your compensation cost Implement a performance-based compensation model to help you maximize your revenue per guest and gain control over your compensation cost.
- Your overall financial ratios Balance your financial ratios. Make sure you have at least a double-digit profit line.
- Your guest experience & menu Run spa business reports to learn about the most popular and least popular treatments. Replace the least popular ones with new options. Assess your spa menu design and copy, as well as your concept and positioning. Revisit all your rituals, protocols, and overall guest experience.
- Your spa facility Your spa is an important part of the guest experience. Assess cleanliness, flow, organization, scent, lighting, etc. It must be warm and inviting.
- Your spa team image and skills Your team image and skills can make or break your spa. Your team’s performance is a direct reflection on retention. Send in a secret shopper to ensure your team is following your protocols and that they are highly skilled.
- Your training efforts, training manuals Team training is essential to your success. Having spa training manuals makes your life easier and provides you with consistency, accuracy, and growth.
- Your spa marketing efforts You need to know the cost of new client acquisition and campaign effectiveness. Knowing your return on investment is very important. Assess your spa marketing plan. Don’t have one? We do!
- Your online presence Your spa website is where your potential clients are most likely to find you first. How effective is your website? Your website needs to generate leads, increase spa revenue, and engage your visitors. Also, your website needs to be optimized so consumers can find you. Need help? We can SEO your website for you or build a new spa website.
- Your reputation Online review management assessment. How many stars do you have on Yelp and other review sites? Social proof can help you build your business.
- Your guest retention How good is your retention? Track your retention rate. If it’s not what it should be, you should look at your guest experience, your team’s skills, and your protocols.
- Your products—professional and retail Measure how effective your products are for both treatments and retail.
- Your VPG – Volume per guest averages Assess your upgrade and enhancement menu. Make sure your spa team is upgrading and selling retail products
- Your P&L Statement Look at your P&L statement and check out your ratios. Make sure you have a healthy spa business. If your profit margin is not in the double digits, make necessary adjustments. Use QuickBooks or another type of accounting software to produce your P&L statement and other fundamental financial reports.
- Your spa reception department Your reception department is a key department within your organization. It must be focused on generating revenue. Monitor your call-to-reservation ratio, your upgrade opportunities, and your retail sales. Assess your call management, guest check-in, and guest check-out experience.
- Your spa boutique merchandising and retail mix Assess your retail sales. Run reports to learn about the most successful products and the least desirable products. Calculate your profit per square foot and your turnover rate.
- Your spa culture Company culture is key to attracting and hiring the ideal team. Your culture will attract professionals who will help you grow. Assess your culture and learn how your team feels about your organization
- Your spa concept Assess your fulfillment offering to your target market. Do you need to introduce new treatments and tap into new revenue streams to help you earn more and be more profitable?
- Employee retention Do you have a revolving door? Remember, people don’t quit jobs. They quit managers. Hiring new people is very costly. Calculate your employee retention rate and see how you can improve it. If you need help with team issues, check out the CoachMe Gold Spa Management Essentials series where I train your team for you.
- Your leadership skills This is most important. Are you an effective leader? The more you invest in your education, the better off your organization will be. Join a high-level coaching group or a mastermind group. These types of programs always separate the average from the excellent.
- Your structure Your organizational structure should be part of your growth plan. Chart a career path for your team so they can be motivated and grow with your company.
- Your growth plan This is the biggest must. People don’t plan to fail. They fail to plan. Annually, you need to revisit your spa’s strategic growth plan to make sure you are on course. Need a Spa Business Plan? We have one!
Did you like this article?The New Year is around the corner and January is a big month for us because everyone is all excited about making improvements for the New Year! We are here to help you! Coaching is a very important part of reaching excellence! If you have not looked into the CoachMe Gold series, now is the time. Since it’s the holidays, we come bearing gifts! We invite you to watch two webinars to help you grow your business in 2015.
Listen and then join this community of successful people!
Join Each Membership For $99 Per Month
1. Re-invent Your Business! Volume II
Add To Cart —SALE: $99 REGULAR:
2. Make Your Spa Social Media Work For You!
Add To Cart —SALE: $99 REGULAR:
Join Both Memberships For $149 Per Month1. Re-invent Your Business! Volume II 2. Make Your Spa Social Media Work For You!
Add To Cart —SALE: $149 REGULAR:
Want To Make 2015 Your Best Year Ever?Start the year by gaining a blueprint to help you guarantee your success. Attend the Leap Ahead seminar and guarantee your success! January is the perfect time to visit Florida and to pump yourself up for success in 2015! We have gifts for you to get you started! Listen to 20 Strategies To Grow Your Business Exponentially. It will be worth your time to take one hour and listen to this great teleseminar. Don’t delay your success another year. You see how fast they go by. Do it now. Go to http://Inspa.Biz/20Secrets to listen now!
Join Us For Leap Ahead And Guarantee Your Success In 2015!
Discover A Proven Blueprint To Making Your Spa More Successful So You Can Create Your Own Economy & Live The Lifestyle You Deserve. Best Part: All You Need To Do Is Follow An Effective Recipe!Just Take These Existing PROVEN Blueprints and Apply Them to Your Business! The LEAP Ahead Leadership Seminar is a 3-day seminar where we will share this PROVEN blueprint you can use again and again to effectively operate your spa. Imagine earning the money you deserve. And think about what it would be like to buy anything you want…when you want…without wondering, “Can I afford it?” The LEAP Ahead Leadership Seminar will take you there. When you claim your ticket and carve those 3 days out of your schedule, we’ll give you everything you need to implement your new business model into your existing spa so you can enjoy more profits, more revenue and less stress and fretting… Learn More Use Promo Code: “Leap”
Add To Cart —1 ATTENDEE: $1895 2 ATTENDEES: $2950 REGULAR: $2950
Merry Christmas & Happy Holidays!
Founder and CEO – Dori SoukupInSPAration Management is a business firm dedicated to assisting spa professionals with growing and enhancing their business. We help spa owners and leaders maximize their spa’s potential through consulting, advanced business education, and coaching.
Whether you’ve been in business for years or are just starting out, we can help. Read more.Education: InSPAration Management offers advanced spa business education via seminars and webinars to spa professionals. We can positively impact your career and your business. Read more about the Spa Leadership Seminar.
BizTools: Select from budgets, compensation plans, position descriptions, marketing, and more! Discover BizTools
Contact us to learn how we can help you grow your business and find success through InSPAration![/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]