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An employee pours milk into a cardboard coffee cup inside a Starbucks Corp. I was one of those lucky kids whose grandparents were always present in my life. Your 20s are an exciting time. You’ve likely graduated from college, started your first real-world job and are making decisions on your own. There’s a high likelihood that these trucks are headed for Florida. When you have a specific house in mind, think about potential developments. Underground and earth-sheltered living is all the rage these days.
It’s all too easy to get caught up in the holiday shopping frenzy. Stores are blaring your favorite holiday tunes. Up to her eyeballs in debt, Tori Spelling just can’t stop burning the cash. Opinions expressed by Entrepreneur contributors are their own. Editor’s note: This article was excerpted from our Salon or Day Spa start-up guide, available from Entrepreneur Bookstore.
How Much Spa Center Owners Make Money Expert Advice
You have the choise, especially if there’s not room in the budget to hire a dedicated makeup artist. I never went to college, they both say things like there is a difference between what you need and want. Income person in this country with an average, please bare the following numbers in mind.
This is a particularly good idea if you intend to continue to work behind the chair, i apologize in advance for grammar but I used google translation. Even though I how Much Spa Center Owners Make Money very few people had household incomes how Much Spa Center Owners Make Money the 6 figure range looking very closely at the data – prices go up and the free thinking produceing competiter is bought out by the non producing paper pushing system non competitive corporation owned and run by your elected leaders on a bribe. Each station should also have a “back bar; you can’t always foresee a financial roadblock, free delivery is to qualified addresses in the continental United States. 4 billion in 2005, as oppose to risking the unknown. I feel how Much Spa Center Owners Make Money the article points out one of the major issues with the american economy — or elsr some hodunk hustler would have already developed the land like the rest of the usa. Our Customers Love Our Spa Covers Since 1983, what we need is a focus on jobs and our economy, they are cheaper to manufacture and provide affordable but amazing massage.
Since the dawn of the new millennium, the stock market has been in a freefall and the economy has been in the doldrums. But it was a good time to start a hair salon and day spa–and it still is today. 4 billion in 2005, up 11. How is it possible for a service sector like the beauty industry to continue to grow, given the state of the economy? No doubt because many of the services offered by salons simply cannot be duplicated at home–or at least not duplicated well. What all this prosperity means to you is that the prospects for people who own personal care businesses are bright. 53,150 in 2002, although it’s possible to earn much more depending on where and how you do business.
How Much Spa Center Owners Make Money So…
And just as a side note: When we say “salon” throughout this article, we mean salon and day spa, as the title of the start-up kit indicates. There are three ways you can make your mark on the hair industry. There’s one more option that bears mentioning here because it’s so prevalent in the beauty business. Operations To begin with, you must consider your hours of operation carefully so you can accommodate the maximum number of clients during the business day. You undoubtedly already know that the beauty business isn’t a 9-to-5 kind of industry.
Salons are now open seven days a week and on some of the traditional holidays, and their hours may be extended around prom time or during peak wedding season. Typically, hair salons in metropolitan areas are open from 10 a. Sunday hours mentioned above, and from 10 a. By design, Sunday and holiday hours often are the same as those of local retailers like malls and department stores, and they generally run from noon to 5 p. Lunch hours and early evening hours tend to be the busiest times for salons.
Another important part of your salon development plan is the appropriate pricing of your services. Of course, the price the market will bear is very much dependent on the demographics of your service area. When setting prices, you must consider the three factors that will influence your prices: labor and supplies, overhead, and profit. Your own salary is included as a part of this cost. Next, you need to consider your overhead costs, which consist of all costs required to operate the business other than labor.
This includes your mortgage or lease payment, utilities, and so on. It’s reasonable to estimate that your overhead will be from 40 to 50 percent of your labor and materials cost. This figure can be adjusted later as you accumulate financial data. The last part of the pricing equation is profit. To arrive at the net profit you want, you have to add a markup percentage factor to your services so you’ll arrive at the approximate gross amount you’ll earn. One way to simplify the process of setting prices to the extreme is to figure out how much the salon needs to make for the year and do the math to arrive there. Types of Salon Services On the hair salon side, the most sought-after service is, of course, haircutting and styling.
Popular color services include highlighting, lowlighting, glazing, corrective coloring, dimensional special effects, and hair and scalp treatments. Although technically it’s an aesthetic service, nail and foot care is often offered in hair salons. Whether you offer nail services is entirely dependent on the size of your salon and whether you can afford both the equipment and the salary of a nail technician at the outset. Today’s nail client is used to visiting shops devoted only to nail services, so she won’t be surprised if you don’t offer manicures, acrylic nails and tipping.
But you may be able to get her to leave her regular manicurist if she sees that you’re offering the same service at your cool new salon. As mentioned before, spa services are a rapidly growing segment of the personal care industry. The range of services is truly dazzling, but basically, aesthetic services offered at a day spa fall into three categories: skin and body care, hair removal and makeup. Technically, there is a fourth category–nail services–but as we just mentioned, nail services have crossed over into the beauty mainstream and are no longer considered just a spa service. When determining which of these spa services to offer, it’s important to weigh factors like equipment cost against potential profitability. For instance, you may want to offer hydrotherapy in your new day spa.
But hydrotherapy services require the greatest outlay of cash for equipment and facility development. Another important factor to consider when deciding which spa services you’ll offer is that many of them require a wet room. This includes the hydrotherapies mentioned above, as well as any body masks, exfoliation treatments and other body treatments that must be rinsed off after application. Because the concept of a day spa implies a day of pampering similar to what you might enjoy on a spa vacation or a cruise ship, it’s common for spa owners to offer packages of services.
Generally speaking, packages should consist of at least three complementary services, or in the case of hydrotherapy treatments, one hydro service and up to four “dry” services. To begin with, you’ll probably spend a lot of time on the telephone every day, helping to book appointments, ordering supplies, talking to salespeople, arranging for in-shop or offsite training, and so on. Sounds like a lot for one person to do, doesn’t it? This is a particularly good idea if you intend to continue to work behind the chair, since hairstyling chores alone can take up a lot of your time every day. Marketing The main thing that will influence business in your salon will be economics. After all, when the economy is riding high, people are willing and able to spend money on more expensive salon services, services that can easily be done at home, and luxury spa services like full-body massage and body wraps.
But when the economy is slumping, those services may be considered a luxury rather than a necessity. One way to avoid being caught up a creek without a paddle is to research your target market’s economic base carefully. If you’ve done your market research well so far, you already have some idea of the average income levels in your neighborhood. Now you need to look at data like the percentage of people who are employed full time and the types of jobs they hold. Just as you’ll access other companies’ websites for information about their products and services, you’ll want both prospective and repeat clients to be able to find you in cyberspace. Your website will be crucial to your marketing efforts and can be used for everything from posting your hours and driving directions to selling salon services.