The Essential Difference Between Profit & Revenue
How They're Different and Why It's Important
Course Description
The Essential Difference Between Profit & Revenue
How they're different and why it's important!
What's in this Module?
This Revenue & Profit business module is not lengthy, but it is important.
The fact is that many salon and spa owners constantly chase high revenue (also often referred to as turnover or earnings) in their salons in the mistaken belief that high revenue will automatically also mean high profits.
Let me be 100% clear about this - it doesn’t!
When you realise that increasing your revenue is not a guarantee that you’ll increase your profits, you’ll better understand the real risks involved in:
1. Trying to attract volume sales by pricing your services too low, and
2. Running salon promotions based on discounted pricing.
Introduction
This Profit & Revenue business module isn’t lengthy, but it is important.
The fact is that many salon and spa owners constantly chase increased revenue (also often referred to as turnover/ earnings/ sales) in their salons, in the mistaken belief that higher revenue will automatically also mean higher profits.
Let me be 100% clear about this - it doesn’t guarantee that at all!
When you realise this, you’ll understand the risks involved in:
1. Pricing your services too low trying to attract volume sales, and
2. Running salon promotions based on heavily discounting your services.
Both of these strategies may well increase your revenue in the short-term but they won’t necessarily increase your profits.
Read more in the module...
Overview
Many business owners confuse revenue with profit but they are NOT the same thing.
This confusion negatively affects the way they market their services, and in turn, leads to loss-producing promotions and treatments.
If you're not clear about the difference between the two, then this short module is a must-have for you.
This module includes a PDF document outlining:
- What is Revenue?
- What is Profit?
- Net Profit Chart
- Pricing for Profit
- Discounting - The Wrost marketing Tool for Long-Term Success
- Being Busy vs Being Profitable
Information Pages: 12
Salon & Spa Profit Coach
Pam Stellema
As well as copywriting for this amazing industry (SalonSpaCopywriter), I’ve been a salon owner, business coach (SalonSavy), mentor and advisor to Australian and international salon & spa owners, as well as industry suppliers.
Before that, I did a stint as Freddo Frog, spent time writing computer code, ran a roadhouse and worked in my mother’s dress shop!
But getting back to the important stuff…I opened my first salon in Brisbane which was a huge success and then worked with my husband for a few years in his business learning how to be a profitable uber-boss. I then bounced back into the beauty industry with a second, hugely successful salon on the beautiful Gold Coast.
Finally, I sold up my salon and have since mentored hundreds of salon owners, before adding industry-specific copywriting to my repertoire.
During this time, I’ve written and published my book 3 1/2 Secrets to Salon Success, which is all about helping salon owners focus on the important, profit-generating aspects of their business. I’ve also written bucket-loads of business articles for industry magazines, in excess of 100 business blog articles, over 30 coaching modules for salon and spa owners and a few more e-books.
Now, I'm creating online courses to help salon and spa owners just like you to help bypass the disasters and become a super-successful salonpreneur instead.
Course curriculum
-
1
Module - The Essential Difference Between Profit & Revenue
-
Module - The Essentail Difference Between Profit & Revenue (downloadable)
-