I'm curious to know... When is the last time you reviewed the performance of your team?
If the answer is a month ago (or even longer than that), please keep reading... I'll tell you why you should review performances every week and how to do it! HA!
The importance of reviewing your numbers weekly:
- To know where your business stands!
It doesn't matter if you are a solopreneur (nail tech, hairstylist, esthetician working in a salon or for yourself only) or if you are a salon or spa owner! In order to know if your business is thriving, you need to be aware of your numbers!
- To help you motivate yourself or your team members!
By knowing your numbers, it will be easier to set new goals for yourself or your team. The numbers truly show you your performance.
- To know where your struggles are!
Number don't lie! Once you know them, you will see exactly where your biz is struggling. If you retail or service sales numbers are low, you will know what to adjust and what needs to be worked on.
- To know when your team members deserve a raise
This one is super common! Salon and Spa owners often reach out to me, because they want to know what the ''standards'' are in the industry when it comes to raises. Well... Yes, I could make something up and we could base raises based on seniority. But this wouldn't really make sense! You want to reward the team members who are hard working and keeping their guests in your salon. You want team members who are productive and are willing to do what it takes to make more money! And only numbers can show you (and them!) the quality of their work.
You will find below the simple calculations every beauty service providers should do, weekly! YES - EVERY WEEK!!!
How to calculate your average service sales:
#1 Find out how much $ service you did in a week.
#2 Find out how many guests came in that week.
#1 ➗ #2 = average service sales.
How to calculate your average retail sales:
#1 Find out how much you sold in products for one week.
#2 Find out how many guests came in the same week.
#1 ➗ #2 = average retail sales.
Have questions regarding this subject? Email me! Or find me on Instagram @melissalemay.saloneducation