A new year is about new beginnings — a time to look ahead, set goals and implement a plan to reach those resolutions. This year, the focus is firmly on health, wellness, and overall well-being.
The all-around wellness focus of 2022 is more than a trend but a necessity. With a couple of difficult years in our rearview mirror, people long for normalcy. Moving forward we renew our interest in healthier eating, regular exercise, and overall well-being. We look to nutritionists and diet coaches and embrace our yoga or gym memberships in hopes of a healthier tomorrow.
The Health & Well-Being of Your Salon
The health-first focus of 2022 also extends to your salon. The new year is the ideal time to do a virtual check-up, take the pulse of your business, seek out professional advice, and then set a plan to ensure a healthy operation and, ultimately, bottom line.
Run Reports and Read Your Numbers
To measure the health of your business, start with reports, which can provide helpful insights, including spending, profits, and growth from prior years. Reports can also supply vital details to help you develop future forecasts and marketing plans and guide budget planning, goal setting, and decision-making for your business.
Business Vital Signs
The Total Sheet is the best place to do an overall review. This report is where you can see everything broken down by sales, payment types, and employee tickets, etc. During the year, this is the report to use to balance credit cards and check amounts at the end of the day. However, you can also use it for a yearly total to get a snapshot of your business for a chosen date range.
The Total Sales report is where you can review service and retail sales for the year. This report will break things down so you can see who bought what in terms of services, memberships, packages, or retail for a given date range. You can also run a client-centric report to see total referrals and the number of services in each service group (i.g. color versus haircuts, etc.), plus analyze behaviors like cancellations, rescheduled appointments, and cancellations less than 48 hours before appointments.
On the employee side, the Ticket Summary is ideal for viewing sales by service providers. The Productivity Report helps analyze your staff’s overall efficiency while employee sales performance is outlined on Sales Analysis reports. These reports can help you reward or reset your employee performance expectations as you move throughout the new year.
While pulling together everything you need for preparing your taxes, consider making an appointment to consult with your CPA and/or business coach. They can advise you about any new requirements for 2022, help you read your numbers and spot trends, and create a plan, so you are poised and ready for the year ahead.
Your Rosy Report Card
You’ve checked the pulse of your business by examining your reports, even getting professional help… now what? It’s essential for the health of your system to optimize how your salon operates, and now is the time to do it.
First, look for ways to eliminate waste. An excellent place to do that is by improving your team’s productivity with goal setting. Set benchmarks for growth for a given period for each team member and include realistic increases in sales for products and services. You can even gamify your efforts by making the process fun for your team. In addition to incentives for reaching a certain level, set up a competition and let everyone compete for a worthy prize. The more fun your team has, the more engaged they will be, and the healthier your bottom line will be throughout the year.
Next, increase client retention and grow your business by turning all of your clients into your best client. You know the ones: they come in every five weeks, are always on time, and buy everything you recommend. Simply introduce a rewards and referral program and let your best clients know you’re looking for more clients just like them.
Communication is another client retention tool. Stay in touch and engage with your clientele, making them feel special and appreciated, by using automated and mass text and email marketing. Set up automated messages to remind clients when they are due back into the salon, wish them a happy birthday, thank them for their business, even remind them when they are running low on product. Just set up the automation once, and let the system do the rest. You can also send out regular communications to any segment of your client list, letting them know about events, promotions, trends, and exciting news within the salon.
Last but certainly not least, minimize costly behaviors like client cancellations and no-shows using automated confirmations and reminders. There’s a simple, one-time setup where you set the timing for your communications; then, you just let the software work its magic from there. You can also eliminate client tardiness and no-shows by making deposits a part of your booking process using an integrated payment processor such as RosyPay. When clients have money in the game, they respect your time and are more likely to show up for their appointments. How great is that?
Now it’s your turn – fill our prescription for optimizing your business. If you need help or would like one of our software experts to run a quick features checkup, feel free to schedule a time here or here.
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