1) Create a stylist income forecast at the beginning of every financial year
2) Create a profit and loss forecast at the beginning of every year
3) Set minimum performance standards for every role in your salon
4) Set minimum performance standards for every team member in your salon
5) Review performance every four weeks
6) Create promotion criteria for every styling level
7) Have an inflationary price increase at the same time every year
8) Raise every service by the same percentage
9) Know the true cost of delivering every service
10) Ensure that you have logical and motivational price structure
Ken West is director of business experts 3•6•5 – email him on KenW@365Hair.com
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