Cant work out why your WAGES are eating most of your revenue?
Description
Are you facing cashflow challenges in your salon or clinic business?
Join us in today's episode as we delve into a fundamental concept that might be at the core of your cashflow struggles.
📊 The 30-30-30 Rule: To maintain a healthy financial balance in your business, your revenue should be divided into three key areas:
30% Cost of Service: This includes wages and cost of goods, but it's critical to keep this in check.
30% Fixed Expenses: These are necessary business costs like rent, subscriptions, and more.
30% Profit: Ensuring you have enough left over for growth and sustainability.
When these areas get out of balance, your cashflow can take a hit. We discuss why the wage ratio is crucial, the impact of team performance, managing gaps in your appointment books, and ways to boost client retention.
Don't let cashflow problems hold your business back.
Tune in now to discover practical steps to keep your business financially healthy! 💪
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