How to Evaluate Studio Salon Business Performance
If you’re thinking that it’s time to find an upscale salon lease for your beauty business, evaluating your current performance and continuing to monitor results in the future is paramount. Our case studies have shown that it’s possible to give yourself a significant raise simply by making the switch to Indie Salons (you keep 100% of the profits from product sales here, in addition to earning rent rewards credits through our wholesale beauty supply program). Whether you already keep a watchful eye over your metrics or you’d like to start monitoring your stats more closely, here are our top tips for achieving business growth:
Conduct Monthly Check-Ins
Keeping tabs on your monthly performance is one of the best ways to track your business’s long-term sustainability and growth potential. Life gets busy so you may not always have time for more frequent check-ins, but we recommend analyzing the numbers at least once per month.
Be sure to keep accurate records on the following figures to ensure that you’re staying on track with your goals:
- The number of new clients you gain each four-week period
- How many repeat clients you work with
- Your average service ticket amount
- Total number and dollar amount of retail product sales
By consistently going over your business’s month-by-month trends, you can set more realistic goals and pinpoint ways to improve. GlossGenius and Square are tools that can help you easily track some of these metrics.
Track Your Marketing Results
Looking to take your marketing skills to the next level? We know that you’re busy focusing on your primary area of expertise, but it can be incredibly helpful to track the performance of your site and social media marketing efforts.
If you don’t have a website yet, now is the time to create one. You can learn a lot of important statistics from your site, such as how many visitors you receive in a given period. With tools like Google Analytics, you can take it a step further to determine how long visitors stay engaged and which pages they’re visiting. This is a great tool to get familiar with if you’re interested in driving more traffic to your site, encouraging visitors to sign up for marketing newsletters, and boosting appointment bookings online.
When you’re ready to be your own boss and enjoy a positive work environment, investing in a high end salon lease will help you achieve these accomplishments. To ensure that you’re making the most of your new studio salon, keeping up with business data is a must. If you’re excited to take the next step in your career as a beauty pro, the Indie Salons family will be here for you every step of the way. From complimentary studio setup to business support and continuing education opportunities, we’re designed with your success in mind. Interested in learning more about our incredible community? Contact our Market Manager, Kandice Meylan, for more information. You can call or text Kandice at 303-792-8222 to get started.