Achieving Optimum Profit Potential – Business Management Skill Set 3
Are you managing your finances or are they managing YOU?
If numbers aren’t your thing or management is new for you, then this is the business management skill set to get you ‘up to speed’ quickly and effectively with industry-specific terminology, tools and techniques.
Like anything else, if you haven’t been shown how to work with numbers, figures and budgets, it can lead to an overwhelming sense of not even knowing where to start. However, when you actually begin to work with them you will see how they can provide you with comfort and actually reduce your stress levels.
If you can plan a holiday, you can create a budget to achieve your business financial goals. Embrace and nurture your numbers and the numbers will be one of your best friends as a manager and leader.
You will learn
- step by step guidelines to create and implement your budget;
- accounting terminology that will have you liaising confidently with your owners, investors, shareholders, General Managers, accounting, business managers or other ‘numbers’ people;
- 10 winning strategies for a well-thy bottom line;
- key inventory management concepts to save you money (such as how to calculate effective par stock levels);
- skills to calculate industry benchmark ratios, such as spa capture rate, average guest spend, service to retail, revenue producing space, service recoveries and inventory turnover;
- tips to confidently monitor your KPIs (key performance indicators)
- how to ascertain which services make you the most money (and which do not);
- guidelines on how to correctly price your service offerings and avoid costly time and material waste;
- facts, hints and tips on successful spa retail sales programs, products and services profit margins, and what it takes to win the engagement and support of your team in reaching your financial goals;
- proven revenue and yield management philosophies.
You will walk away with
- A comprehensive financial strategy to achieve optimum profit potential of your business
- Clarity on how to set and achieve your business financial goals
- Confidence in dealing with budgets and numbers
- Knowing how to budget and implement financial strategies that will support you in achieving your career goals
- Confidence to apply for a management role or a promotion
- Competence to implement your budget and financial plan to achieve success
PLUS BONUS RESOURCE
- A 100+ page Leader’s Manual provides you the essential skills to manage and lead a team in a spa and/or wellness operation.
The two comprehensive manuals of over 200+ pages are conveniently delivered to you as PDF documents direct to the email that you provide upon placing your order.
Guarantee: if you are not happy with your ASWA Business Management Resources for any reason, let us know within 7 days of purchase and we will refund 100% of your monies paid.
NOTE: For consistency purposes, the examples utilised within the The ASWA Business Management Resources are spa-specific however, the concepts can be easily adapted to suit service-oriented wellness businesses.