rsvp beautyworldme rm4salons 20130529
TRANSCRIPT
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RevenueManagementTheBusinessOpportuni5esintheSalonIndustry
Dubai,29/0/2013
RomainSaadaFounder-ProfitTherapyPrograms+(971)0893011Blog:hp://upyourmargin.blogspot.comWeb:hp://www.rsvp-hospitality.comEmail:[email protected]
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Agenda
1. WhatistheNail,Spa&BeautySalonIndustry?2. WhatisRevenueManagementforSalonandSpaIndustry?3. Iden5fythebusinessopportuni5estodefineSpaceandTime.4. Todiscountornottodiscount?. AnalyzeyourperformanceandKPI
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1.WhatistheBeauty&NailSalonsIndustry?
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NailBarIndustry SpaIndustry BeautySalonIndustry
Manicures, Pedicures, Acrylic, Fiberglass,
Gelpolish, NailArt, Othertreatments,
BodyMassages, BalineseMassages, ThaiMassages, SwedishMassages,
AromatherapyMassages, Deep5ssueMassages, HotStone, Others
Manicures/Pedicures, NailSta5ons, HairSta5ons, FacialandSkincareSta5ons,
Massages, Moroccanbath, MakeUp, Waxing, Eyelash,Eyebrows,Tin5ng
IndustryPrac7ce:PricesforBeautySalonaredefinedbytheserviceandmaterialconsumed.The
costsheetfeaturemainlycostoflaborandproducts.
Generallypricesarenotdefinedbyspacenor5me.Amanicure/pedicuremay
havethesamepriceswhetherbeinginaresiden5alorcommercialareainthe
city.
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2.WhatisRevenueManagementforSalon&Spa
Industry?
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Highfixcosts Lowvariablecosts Perishableinventory Easinessofthecontroldura5on(Hours/Min.) Variabledemand Fixedcapacity Mul5-pricingcapability
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RevenueManagement:ArtorScience?
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Ithinkweshould Vs.
Weneedto
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RevenueManagement:Anotherwaytoputthis
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Demandcrea7onis Marke7ng
Demandcaptureis Sales DemandManagementis RevenueManagement
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RevenueorYieldManagementInsights
Makingavailabletherightproduct... Totherightcustomer... Attherightprice... Attheright5me.
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3.DefineSpaceandTimeforyourBusinessUnit
Sellingspaceexplicitlyorimplicitly?MostoftheNail,Spa(Male/Female)andBeautySalonsaresellingspacebased
oncompe5torprices.
Prac7cestodefineSpaceandothersolu7ons:- Defineyourinventory/areasinslotsandfocusonimproverevenueper
slots(revenueperhairsalonseat,revenuepernailsta5onseat),
- Defineyourinventory/areasinsquarefeetanddefinetheperformancemetricasrevenuepersquarefeet,
- Thespacealloca5onshouldbebalancedbetweenthefunc5onalityandtheprofitability.
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3.DefineSpaceandTimeforyourBusinessUnit
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Sta7on
Occupancy
Profitability
Approach
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3.BusinessOpportuni5esHistoricalData
Collec7on
Historicaldatacollec7on:- Collecttherightdata(bestway
throughcomputerizedsystems),
- Configurethedatathatworksforyourbusinessunit:breakdownofyourrevenues,averagesalesperclientper
areas,averagesalesperclientperday,
salonu5liza5onra5os,retailsales
percentage(%),
- Compareyearonyearprogressiononanexcelsheet,
- Drawgraphsorpie,toreflectgrowth,11 BeautyWorldMiddleEastSummitBusinessOpportuni5esintheSalonIndustryConfiden5al
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3.BusinessOpportuni5esSta7on
Occupancy(%)
CalculateyourSta7onoccupancies:- YoucanfigureoutyourSta5onOccupancy(K.P.I)by
dividinghoursbookedbyhoursscheduled.
i.e:1Therapistworks6daysaweek,8hoursperday:
MaximumNumberofWorkHours=48Hours
Averagetreatmentbookedhours=34Hours
Thetherapisthasa34-48ra5o
Sta7onOccupancy: 70%
Ifthattechnicianisfullybookedmorethan8%ofthe
5me,youcanraiseherprices.Sta5onareaillustra5oncanbereplacedbyHairSeat,ManicureSeat,FacialRoom,WaxingCabins,SlimmingMachineCabins,MoroccanBathRoomoranytypeofmeasurablemetric.
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3.BusinessOpportuni5esMeasureProfitsby
7me
MeasureyourProfitabilitybyTime:- Youmuststartcollec5nglotsofdata,- Revenueperhalfhour,- Revenueperhour,- Revenueperhourperareas,- Revenuebydaysoftheweek,- Reviewreserva5onsvs.walkinclients,- Revenueperloyalclients,- Revenuepernewclients,13 BeautyWorldMiddleEastSummitBusinessOpportuni5esintheSalonIndustryConfiden5al
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4.Todiscountornottodiscount?
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Apriceisaprice:- Discountshouldbebasedonvolume(08/
12treatments),
- Givevaluesratherthanmoneydiscount,- 20%offpriceor20%moretreatment,- Ratefences(advance,prepaid,lastminute,
socialgroupsites)
- Controlleddiscoun5ng,- Controlledavailability,- Setupapricingpolicyisthewayforward
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4.Todiscountornottodiscount?
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Strategicpackaging:- Whendoyouwanttopackage?(slow
5mes)?
- Whoareyoutarge5ng?Why?- Howwillyoupromotethepackage?
Facebook,Website,3rdpartysites
- Historicalsta5s5csofpackaging?Doesitwork?
- Useanydatatomakeyourdecisions,
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.Analysisofyourperformanceamustdo
Demandanalysis, Analyzingmargin, Sta5s5calRepor5ngongraphs, An5cipatedemand, ProfitandLossStatement,
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Notes:
Itssuperimportanttoinvest2daysamonthtoanalyzeyourperformance,and
notonlyyourProfit&Loss(P&L).
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FurtherEnhancements
Contribu5onAnalysisReview, AnalyzingofyourProduc5vity
Management,
StrategicDevelopment, PricingandProductDevelopment, AncillaryRevenuesEnhancement, Analy5calTools,
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RSVPWorldwideYourpartnerinprofittherapy
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RSVP Worldwide FZ LLC United Arab Emirates
"RSVP Worldwide FZ LLC United Arab Emirates"Emirati | Tower B | 6th Floor | Office 3E"PO Box 32191| Ras Al Khaimah | UAE"Phone +971 50 589 3011"
Contacts:
"Romain Saada"Founder & CEO""
www.rsvp-worldwide.com