4 Spa Business Action Steps for a Strong Finish to 2022Sep 22, 2022
How close are you to achieving your 2022 goals, spa owners?
- If you’re close, you may need to regroup with a sales refresher–namely orbiting around products, services, and the goals surrounding both of them–to keep that momentum up
- If you find yourself middling, it’s likely time to bump up your rates (after all, expenses have skyrocketed this year!)
- And, if you’re lagging behind and can’t determine why, then this is your sign to do a profitability assessment of the last 12 months to figure out what’s broken–and how to fix it
No matter which of these three categories you fall into, one thing rings true: it’s time to invest in profit-maximizing action steps.
Let’s dive into four that you can implement in your spa business ASAP:
An Operational Assessment: Where Have You Been Overspending in Your Spa Business?
With inflation spiking around the globe in 2022, taking account of your spending is crucial. But why just stop there?
In an operational assessment, you can pinpoint where exactly you’ve been overspending time, effort, and, of course, finances.
- Are you paying market rate for your team? How much is left over to pay yourself?
- Backbar and retail
- What are your best-sellers? Which products haven’t consistently sold well? Are you over-purchasing products or under-purchasing?
- How much are you spending on tech, both in-spa and for your marketing? That combination of rentals and monthly subscriptions can take a chunk out of your wallet. Ensure that everything you’re investing in is providing you tangible monthly value
- How did your last event go? Was it profitable, or did you lose money? What factors contributed to either, and what can you do next time to enhance your profitability?
Whew! If that feels like a lot, don’t worry; it is.
However, knowing where you can pull back on spending– and which products, services, and/or events to center your marketing around to keep your finances flowing–is invaluable. We recommend conducting an operational assessment yearly so you have statistics to look back on.
Celebrating Wins: What’s in Need of Celebration?
Sure, as spa owners we all need to be focused on moving forward–but what’s the point of progress if you’re not celebrating those wins along the way?
As a former spa biz owner myself, I understand the importance of celebrating wins… no matter how small they may be. Whether you’re the leader of the team or flying solo, fixating only on what you need to improve and what’s currently falling short in your efforts can quickly drain your energy and leave you feeling more unmotivated than ever.
A great example of this is Fall, which is notoriously one of the slowest seasons in the spa industry. Don’t have as many clients coming through the door? Don’t sweat it! Instead, take this extra time to strengthen your team culture with one-on-one staff meetings or teach yourself a new skill, like planning a social media content calendar or getting the jump on your next spa event.
Remember, no time is inherently wasted; it’s all about what you choose to do with it!
Investing in a Spa Profit Maximizer: Do You Know What You Don’t Know? A Professional Can Help
Trust us–it’s so much easier to see the profit possibilities that are in front of you when you collaborate with a professional who has done it before.
As one of our top VIP Days, the Profit Maximizer helps you develop a strategy around services, retail, and ecommerce to help your sales soar.
In just one day, you’ll receive:
- An in-depth spa sales analysis
- An in-depth cost-per-treatment analysis
- Recommendations for service additions and subtractions
- A comprehensive price increase plan
- Valuable spa industry benchmarks to see how your biz measures up
- A 12-month breakdown of achievable service and retail sales goals
- Leadership training
- Complimentary Asana Project Management to help you stay organized long-term
- 30 days of Asana text support post-VIP Day
Make 2022 your year. With the Profit Maximizer, it’s never too late.
Reaching Out Today: This is Your Sign!
Our last action step is… well, to take action!
Contact us today to book your Profit Maximizer ASAP.
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