Being smart with your time management and cost allocation should be a key area of focus for you as a business owner because failing to do so can set you back in the long run.
Perhaps you’re focusing on the wrong areas of your business to save time and money? Maybe you don’t need more staff working more time or more clients, but a better understanding of the little costs that are eating away your profits.
It is always the little time improvements and cost savings in a business that can so often make the biggest difference. Have you had a close look lately?
Here are the three smallest, sneakiest profit suckers you may not have noticed.
#1: Stop Wasting Money Washing Towels
The number 1 complaint from day spa, beauty, nail, hair and therapeutic massage salons is the time and energy cost involved in maintaining towels and linen.
Not only is it a drain on expensive employee time, but the washing process costs a staggering $6.15# for each client.
Few would argue that linen washing is best outsourced to a professional laundry service. In fact, you can recover as much as 66% of this cost, and add to your profit column, by simply renting your linen.
Fluffy towels, soft face washers and luxurious bath robes for your clientele costs as low as $2 per client* with a Day Spa Linen service from Alsco.
For a limited time, you can get a 2-week trial valued up to $200* and kill that sneaky profit killer once and for all.
Not only is outsourcing your washing more cost-effective than you perhaps imagined, but it will save you and your staff time. Which leads us on to the next point.
#2: Ditch Those 15-minute Gaps Between Appointments
This next sneaky profit killer comes in a close 2nd place as a drain on profit.
Many stylists have smatterings of 15-minute gaps in their appointment schedule throughout any given day. While it may seem small, have you ever worked out what those 15 minutes are worth?
Perhaps you think you’re being efficient by using those 15 minutes slots for low-value tasks such as washing towels, doing the bank run or updating social media.
Check the timesheet of a busy technician in your business, and count how many 15 minute gaps there are in a day, week, and month. If you found four 15 minute gaps in a day, that’s 60 minutes or the time equivalent of one client.
If your average client bill is $100 for the hour, then that’s $500 a week in lost revenue, assuming that you run a 5 day week.
Taking this a step further, that can add up to $23,000 of lost revenue if the average stylist works 46 weeks per year.
#3 Save Money by Choosing Fake, Not Real
The 3rd sneaky money wasters are the fresh flowers on your reception desk. A brand new concept from Floral Image is making a big impact in Australia and around the world.
Floral Image provides beautiful, life-like, maintenance-free floral arrangements that stay bright and fresh all year long, with no water needed. Totally resistant to the rigours of air conditioning and central heating, you’ll never need to clean up again or call your florist.
Yes, folks! Fake flowers have come a long way in terms of making a great first impression on your clientele. The same as renting fresh, hygienic towels makes sense, you can now rent gorgeous, colourful, artificial flowers.
What’s more, they promise to beat prices on similar-sized fresh flowers from your local florist.
That’s why we love using fake flowers to beat our top 3 list of sneaky money and time wasters.
Conclusion: Outsource Your Sneaky Time and Money Wasters
Because many salon owners are presently working so hard in their businesses, they often do not make the time to actively evaluate problem areas and take strategic actions to improve their profitability.
Thus, small inefficiencies can sneak their way into your balance sheet; whether they be an unnecessary use of employee resources or an inefficient purchasing decision.
Look for hidden costs that use your employee’s time, and that cost money rather than create profit for the business.
At first glance, for a hard-working salon owner, it may appear to be a good use of the 15-minute gaps between appointments to wash towels or get fresh flowers, but is it really?
Save money by finding the hidden employee and service costs in your salon. Outsource the sneaky time and money wasters and get the profit back into your business.
Alsco offers luxurious day spa linens rentals from as low as $2 per customer. Get the free trial now!
Sources: Laundry comparison data