Six Steps to Creating Your Spa Business Plan
Most people create a business plan when they first start their business. Eventually, this plan is often shoved into a drawer and forgotten about, never to be updated again. This is a huge mistake! It is absolutely essential to update your spa business plan annually. I want to give you Six Steps to Creating Your […]
Read MoreMaximize Revenue With Spa Memberships
One of the fastest growing franchises in the US today is Massage Envy. What makes them so successful? Two main things: their membership program, and their business compensation model. We often get phone calls from spa and medi spa owners who are fearful of the new Massage Envy opening around the corner. They wonder how […]
Read MoreAre You Setting Business Goals?
Setting goals in your spa is a very important business and personal tool. Unfortunately, many spa owners do not set goals on a regular basis. As a matter of fact, a Harvard University study published that only 3% of the American population set goals in writing. Napoleon Hill, the author of the bestselling book Think […]
Read MoreSix Steps to Gain Financial Freedom
There are many people who are sentenced for life by their work. That’s because they don’t have a growth and exit plan. How about you? Have you been thinking about how much longer you need to work? This article will help you realize what you need to do to plan an effective exit strategy, so […]
Read More10 Genius Marketing & Sales Strategies
People always ask me, “How can I grow my business? How can I make more money?” There are many things you can do to improve your business. You can practice Geometric Growth: Increase the frequency of your clients’ visits. Increase the volume of each transaction. Increase traffic. The first two are easy to improve. How […]
Read MoreHow to Determine the Current Value of Your Spa Business
Say an entrepreneur is interested in buying your spa business. Do you know how much it is worth right now so you can set the right price? Most small business owners do not have a definite idea of the current value of their businesses. No wonder, because that number isn’t part of day-to-day business operations. […]
Read MoreProfit Margin Myth and Reality
The million-dollar question… what should my profit margin be? Leaders are truly astonished when I tell them that they can generate double-digit profit. Those who don’t even have single-digit profit wonder how double-digit profit is even possible. To be clear, it is possible! But you must also be realistic and smart. Myth and reality: Profit […]
Read MoreBusiness Financial Health, Part 4
We’ve made it to the last post of the 4 part series in InSPAration Management’s blog on gaining financial health! So far, we’ve covered having a budget and your profit and loss statement. Then on Friday, we read about managing your spa inventory, which is very important when it comes to breaking down your spa […]
Read MoreBusiness Financial Health, Part 3
Onto the third post of the 4 part series in InSPAration Management’s blog on gaining financial health! Last post, we went over understanding your spa profit & loss statement, or your financial monthly report card. All those ratio measurements will make your head spin, but they’re definitely good to know when planning your finances! Now, […]
Read MoreBusiness Financial Health, Part 2
This is the second post of a 4 part series on InSPAration Management’s blog to learn strategies on gaining financial health. In the last post, we discussed having a spa budget and knowing the breakdown of where all of your money is being distributed. Included was a financial assessment useful in determining your financial status and […]
Read MoreBusiness Financial Health, Part 1
When business owners first go into business they are excited, eager, motivated and can’t wait to get started. Then reality sits in and the bills start piling up, followed by pressure, tension anxiety. If you are like most owners you are always looking for ways to cut expenses and generate more revenue so it’s worth […]
Read MoreNew Belief, New Income Potential!
Do you want to increase your income this year by 30% or more? You can by focusing on delivering a complete guest experience, “in the spa” and “at home!” The spa industry does a great job with performing treatments “in the spa,” but in most cases, misses the boat with retail opportunities and educating guests […]
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