Business > Money Matters

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The Three T’s of Retailing: Train, Track, and Tie It to Performance

April 1, 2001  | Article

When Susie Galvez bought Face Works Day Spa in Richmond, Va., two years ago, retail sales accounted for just 3 % or her gross sales. As part of her one-year plan, Galvez set her sights on boosting retail sales to 10%.

Keywords: commissions   incentive structures   retailing  

Senate and House Introduce Tax Fairness Act of 2000

January 1, 2001  | Article

Keywords: taxes  

Unredeemed Gift Certificates: No Give No Take

November 1, 2000  | Article

Unredeemed gift certificates are not money in your pocket. Even if the expiration date is past (and the state decides that), the money paid still rightfully belongs to the intended gift recipient.

Keywords: customer service   gift certificates   Valentine's Day services   Virginia  

Opening Your Own Salon [A Resource Checklist to Determine If You Are Ready]

October 1, 2000  | Article

 

Do you have what it takes to open your own salon? Or are you at a loss as to where you should even begin? What you need are the general principles and practices of salon ownership and a checklist to evaluate your. With all of the media available today, resources abound when it comes to opening your own salon.

Keywords: compensation systems   hiring nail technicians   obtaining a loan   opening a new salon   owner issues  

Tiered Pricing: Where Supply Meets Demand

October 1, 2000  | Article

Is multi-level pricing a solution for keeping the best nail technicians satisfied and motivated in their jobs? Some salons say yes, indeed.

Keywords: customer service   employee issues   finding/retaining staff   service pricing  

Is There Still Something Wrong With Our Schools?

September 1, 2000  | Article

A few years back, we asked the question, “What’s wrong with our schools?” in an article that exposed the industry’s complaints about how we train our professionals. Eight years later; we decided to see what, if anything, had changed.

Keywords: AACS   cosmetology schools   NACCAS   National Cosmetology Association  

As I See It: A Memo to Beauty Distributors RE: Selling Nails

September 1, 2000  | Article

An experienced nail technician with a full book generates $4,000 or more per month in service sales alone, and she is usually responsible for her own product purchases.

Keywords: distribution   online buying   product buying  

IRS Keeps It Simple to Comply With Tip Regulations

August 1, 2000  | Article

The IRS is making it easier for everyone in the beauty industry by simplifying its voluntary tip income compliance agreements.

Keywords: IRS   tipping  

The Price Is Right—Or Is It?

May 1, 2000  | Article

Would you willingly take a 25% pay cut? Well, we’ve got news for you: If you haven’t raised your prices, you’ve already taken one.

Keywords: financial records   profitablity   service pricing  

Hand-in-Hand Partnership: Making Over One Salon's Profitability (part 6)

May 1, 2000  | Article

One year ago, Lynn Kogle and her staff at Secrets Salon in Long Beach, Calif., took on the challenge of revamping their business systems using the strategies taught in OPI’s business management program, The Edge - Standards & Systems for Success.

Keywords: opi products   profitablity   Suzi Weiss-Fischmann  

Sometimes Money's Not Enough

February 1, 2000  | Article

According to Kitty Victor, business consultant and co-founder of the Masters audiotape subscription service, you need to offer more than just money to attract and retain the best salon personnel-quality of life and balance are number-one issues.

Hand-in-Hand Partnership: Making Over One Salon's Profitability (part 5)

January 1, 2000  | Article

Shrinkage is the term retailers use to describe missing product inventory. Simple employee error or sticky fingers can be the culprit. We asked the Secrets team for their view on this retailing pitfall in this month’s business-building update.

Keywords: opi products   profitablity   Suzi Weiss-Fischmann  

Hand-in-Hand Partnership: Making Over One Salon's Profitability (part 4)

November 1, 1999  | Article

When Nadine Galli, OPI’s Southern California Regional Manager, visited Secrets for their monthly status meeting, she walked into a salon that was bustling with clients engaged in a myriad of salon services. The same clients were also leaving the salon having purchased the OPI retail products the salon now sells.

Keywords: opi products   profitablity   Suzi Weiss-Fischmann  

Right on the Money? A Pro and Con Look at Tipping

November 1, 1999  | Article

The rumors of an IRS crackdown on salon tip reporting is causing salon owners and nail technicians once again to examine their gratuity policies.

Keywords: IRS   taxes   tipping  

Are High Commissions Pinching Your Profits?

October 1, 1999  | Article

If clients keep pouring money into your salon, but none of it is flowing into your pockets or the salon's coffers, it's time to re-examine your compensation structure. After all, why follow the competition's lead if the road heads toward bankruptcy?

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