There are multiple facets to the "Business & Financial" section. First of all, your salon isn't just a salon, it's also a business. It's very possible to have a great salon that is not making as much profit as it could or should. One of the reasons independents, in particular, tend to have challenges in this area is that many salon owners may know a lot about running a salon but haven't developed the skills needed to build a successful business.

Think about the functions & skills involved in running a salon - Front desk management, service planning & product development, purchasing, retailing products, customer service, hiring, staff training & development etc. Now, consider the functions and skills involved in managing a business, any business - interpreting P&Ls & balance sheets, cash & financial management, business development, lender & investor relations, strategic planning & marketing, etc. It's easy to see that the knowledge and skills that might lead to the creation of a fabulous salon are quite different from those needed to manage and grow a successful business.

In this section, you'll get proven insights and tools to help you better understand and manage the business side of your salon. Our business development resources will help you create your own unique operating system. With an operating system in place, a salon becomes better organized, customers get more consistency, employees enjoy their jobs more and the salon is able to perform in a more predetermined, predictable fashion "without the owner having to be there all the time." Having a well-thought out and functioning operating system is one of the keys to creating a truly successful (and more valuable) business "and" a better life-style.

Another importing part of managing the business side of your salon is understanding "the numbers." Everyone knows the salon business is a "people" business, but it's also a "numbers" business. Success can't just be measured in terms of smiling, satisfied customers but also in the cold, hard realities of facts, figures and finances.

Harold Geneen, former Chairman of IT&T said, "The difference between well-managed companies and not-so-well managed companies is the degree of attention they pay to the numbers." While the numbers are certainly critical in any business, they are probably even more so in operating a salon. Dealing with constantly shifting trends and products, lots of employees and razor thin profit margins are just a few of the factors which leaves little room for error and the need to know where you stand, from a financial perspective, quickly and often. Only your numbers can tell you if your business is performing the way it should be or not.

Our financial programs, reports and tools are easy to grasp and implement. You need the benefit of having a financial approach and perspective to your salon. This section will help you better understand the business and financial dynamics of your salon so you manage it like the business it is.