227 Profit: Understanding it and Making More of it in the Salon Industry.
In today\u2019s episode, we\u2019re going to focus on one of the most misunderstood concepts among salon industry professionals: the \u2018P\u2019 word (i.e. PROFIT). \xa0 Reliable data in the salon industry is often hard to come by. But, what is usually agreed on is that when it comes to profit margins, the average salon has a net profit margin of somewhere between 0-8%. The good news is that with a little bit of education and thoughtful strategising, that is something we can change!\xa0 \xa0 So, if you\u2019re unsure what exactly gross, net, and operating profit are, why you need to make a profit, or how to make your business more profitable, you\u2019ve come to the right place! \xa0 For full show notes, links and resources mentioned visit:\xa0https://growmysalonbusiness.com/podcast/227/\xa0 \xa0 Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!\xa0 They do matter in the rankings of the show and help other people find my podcast. I also love to hear what\u2019s been helpful and what you love about the podcast!\xa0 Just\xa0click here to review,\xa0scroll to the bottom, tap \u201cRatings and Reviews\u201d tap to rate with 5 stars and \u201cWrite a Review\u201d and let me know what your favourite part of the podcast is. Thank you for your support! And finally, don\u2019t forget to subscribe to the show to get automatic updates. Got a question you want answered on the podcast? DM me your question over on Instagram or just come on over to connect at:\xa0https://www.instagram.com/growmysalonbusiness/