This Video Explains How To Increase Your Medspa Or Spa Profits.
Are you generating six or seven figures at your Spa or MedSpa, but didn’t make the profit you wanted?
If so, you may need to address the following two things:
- Your pricing might be out of whack
- You don’t have a performance-based compensation model
You need to assess your financial ratios and review your Profit & Loss statement.
You have three main expenses (Financial Ratios):
- Product costs
- Operational costs
- Compensation expenses
You can implement the Volume Per Guest Compensation Model:
You will learn how to compensate your MedSpa or Spa team based on how much revenue they generate for you. They will be able to get paid their true worth.
You will also need a Medi Spa Budget, so you know exactly what your goals are on a monthly basis, what your expenses are and how much spa or medi spa profit you can expect to make.
You need the Guest Consultation & S.A.C.R.E.D. System, so you can increase sales through the consultation process.
Running a Spa or MedSpa should be about having more freedom, less stress and making more money!
You can always schedule a Coaching Call to assess your finances and come up with a strategic plan to help you be more successful.
Leave us a comment below with your challenges so we can help!
Learn more at InSPArationManagement.com or call InSPAration Management at (386) 226-2550.