As a Business Coach I am constantly amazed at the amount of Salon & Spa owners who do not know what their ”break even point” is in their business. If you do not know how much money you need to bring in every week, just to cover your basic costs….how can you possibly track and measure your progress?
Another misconception I am faced with is; owners thinking that the inclusion of a wage for themselves should not be included in that “break even” figure. If you are not paying yourself a wage, week in and week out, you are not running a business, I’m sorry to say it is a charity.
So get to know your figures, embrace and love those figures, they tell you the real, true story of how you and your business are travelling. The figures will tell you where you are spending too much money, where you should be spending more and give you encouragement when you see them start to grow.
If you would like a template simply email me and I will forward you the template. Then you can simply fill in your figures and it will automatically calculate your total expenditure against your total income to give you a quick and accurate snapshot of how your business is travelling.