227 Profit: Understanding it and Making More of it in the Salon Industry.

In today’s episode, we’re going to focus on one of the most misunderstood concepts among salon industry professionals: the ‘P’ word (i.e. PROFIT).   Reliable data in the salon industry is often hard to come by. But, what is usually agreed on is that when it comes to profit margins, the average salon has a net profit margin of somewhere between 0-8%. The good news is that with a little bit of education and thoughtful strategising, that is something we can change!    So, if you’re unsure what exactly gross, net, and operating profit are, why you need to make a profit, or how to make your business more profitable, you’ve come to the right place!   For full show notes, links and resources mentioned visit: https://growmysalonbusiness.com/podcast/227/    Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!  They do matter in the rankings of the show and help other people find my podcast. I also love to hear what’s been helpful and what you love about the podcast!  Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support! And finally, don’t forget to subscribe to the show to get automatic updates. Got a question you want answered on the podcast? DM me your question over on Instagram or just come on over to connect at: https://www.instagram.com/growmysalonbusiness/