2017 SEVA BEAUTY CONFERENCE

2017 SEVA BEAUTY CONFERENCE

As a small business consultant, I consider it part of my responsibility to stay abreast with the industries that I advise. This means learning the latest technology that our clients might need as well as the most recent issues that they are facing.

This year has been no different than other years. I attended the same training sessions and conferences necessary to keep me up-to-date with the constant changes in business laws and regulations; bookkeeping and payroll processes; new apps; QuickBooks updates; and accounting operations. As one can imagine, it is a constant curve of upward learning, but this knowledge is absolutely integral for all of our clients. It is important that we are on the same page when it comes to industry standards. They might not have time to keep up-to-date with the latest in their field, so this is where a small business consultant comes in.

My goal is to provide insightful advice which enables my clients to make informed financial decisions. That is why in addition to attending conferences for my profession, I also like to attend industry specific conferences. These conferences help me gain more particular insight into new products, skills, and potential issues our clients may be dealing with in their industry. There is nothing like understanding the industries in detail. A generalized approach would not give me the industry-specific know how to have personalized plans to help each of our clients with their business solutions.

This month I attended the 2017 Seva Beauty Conference. Talking with our clients face-to-face was amazing. I was able to speak with several salon owners and learn about what is working for them and what they are struggling with concerning growth. I enjoyed this rich qualitative data that I can now use as valuable lessons and share with my clients.

It was also nice to learn about the new products, services, and techniques. When our clients have questions for me regarding their operations, I will not have to waste time asking them to explain the basics of what certain processes are. Of course, each business is a unique entity, so I welcome dialogue with them that is not only clarifying, but also necessary to ensure that I understand exactly what a particular term means to their business.

I was glad to network with not only the franchise owners but also with the other franchise suppliers. Connecting with suppliers allows my firm to discuss potential partnerships to streamline processes for our clients further. This part of networking is essential as there is no use having another framework in place when customers cannot get their hands on products that are in demand in the salons.

The training sessions for this conference were particularly insightful and informative. Some of the sessions helped us gain further insight into the human resource issues with running a salon. We can then come up with some ideas for solutions that STAC Bizness Solutions can assist with going forward.

All in all, I had a particularly productive year of conferences and training. I look forward to passing this knowledge directly onto my clients through innovative solutions and technological advances.

Here are some of our pictures of the SEVA Beauty Conference.  A special “Thank You” to our current clients.

Want to hear more about what I learned?  Contact me today to discuss your personal salon or spa needs.

 

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Decision-Ready Financial Reporting for Your Salon

Decision-Ready Financial Reporting for Your Salon

Decision-Ready Financial Reporting for Your Salon or Spa

Financial reporting is a crucial element for any business as it helps in making decisions. Reports such as Profit and Loss, Balance Sheet, and Cash Flow Statements are helpful with the growth analysis of small businesses, but they are typically prepared monthly.  So let’s look into how this helps with making intelligent business decisions this month?

When your virtual bookkeeper sends your business customized, decision-ready, financial reports for your Salon & Spa at your fingertips it can help your business become more profitable.  Here are five areas where STAC Bizness Solutions can assist with your business growth:

1. Providing Gross Margin Analysis

Gross margin is an indicator of a company’s financial health. It will tell you how much profit the company is earning before operating expenses.  Here is a question to ask yourself.  Are your margins lower than the industry average? Here at STAC Bizness Solutions, we have extensive knowledge in the salon and spa industry and can provide gross margin insights.

2. Establishing Key Performance Indicators

Key Performance Indicators (KPIs) measures how effectively a business is reaching their targets. Successful salons and spas set their goals within a given period and monitor them each week.

Would you like to increase your new clients or increase the number of retail product sales? Our services provide you with customized reports for salons and spa to track the KPIs required for your business.  Ask one of our team members to show you the benefits of having your small business managed by STAC Bizness Solutions.  We would be happy to give you a free consultation.

3. Delivering Industry Benchmarks

Industry benchmarks help in assessing your Salon and Spa business performance by comparing it with your competition. These industry benchmarks help with identifying the gaps in your business and give you valuable insights about where you are successful or where you can make an improvement.  Your STAC Bizness consultant will assist in helping you get these reports to make the best decision for your Salon or Spa business.

4. Preparing a Twelve-Month Forecast

A 12-month forecast is integral for any business to thrive. It is a prediction of future developments such as sale, expenses, and profits. The twelve-month forecast that we will prepare for your Salon and Spa business will assist with making goal-oriented decisions.

5. Providing Management Reports

Management reports give you a deeper understanding of your success. We will identify the data that your business needs and our management reports will help make predictions about the future growth and profitability of your company.

At STAC Bizness Solutions, we go beyond just bookkeeping. We will provide your Salon and Spa with customized, decision-ready, financial intelligence reports to help your business become more profitable and reach your goals.

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The Ultimate Cheat Sheet On Salon & Spa Bookkeeping

The Ultimate Cheat Sheet On Salon & Spa Bookkeeping

Whether you manage your own accounting books with a small salon business accounting software, or you have hired a professional salon bookkeeper to help, you will find that managing your books will help play a major role in the success of your salon business.

Even though the salon business is a little different in how it is run, the bookkeeping doesn’t need to be such a challenge.

You will mostly receive income for services, products, booth rentals, and even commissions.  Along with this might include a lease, payroll, products, equipment, insurance and other license fees.  Your salon business will require some of the bookkeeping methods to help you keep your revenue and expenses straight.

Probably the best advice I ever got in my life was from the head of the accounting department, Mr. Hutchinson, I believe at the Glidden Company in Chicago, and he told me, ‘You really aren’t cut out for accounting.

Bob Newhart

Here are some handy Beauty Salon & Spa Bookkeeping Tips:

USE APPROPRIATE SALON & SPA BOOKKEEPING METHODS

You sell to your clients your services and products, so you need meticulous records to keep up with it all.  If you deal with any receipts, you will want to use some sort of binder to track them and divide it into months.  Then use it to keep bank statements, receipts, and deposit slips.  This will provide easy referencing and will protect you in the case of an audit.  So you will want to use your business checks or your business debit card to make purchases.  Always remember to save your receipts and deposits correctly.

Good bookkeeping for salon owners involves tracking expenses.

A salon business with inventory is normally required to report under the accrual method.  However, there are a few exceptions to this rule.  Inventory as items purchased with the intent to resell, like shampoos, brushes, and other salon products you might sell in your salon & spa business.  If your salon fits under a certain annual gross income, and most small salons fit in this group, then you can elect to choose a much simpler cash basis method to account for your inventory.  Simplicity is the main reason Salon & Spa owners want to choose this cash based method.  Setting up and using the accrual method proves to be much more complex to manage for small salon owners.

But if you’re managing a larger inventory in your salon, then we recommend an accrual method of accounting for your salon.

For most small cosmetology, hair, tanning, beauty and other salon & spa owners who are not inventorying heavy, the cash basis will prove to work best in most cases.

If you are unsure, contact a Salon & Spa Bookkeeping Professional

Setup and Use Salon & Spa Bookkeeping Technology

Think about all the services your business offers, products your business sells, and even how many stylists might work in your salon.  Setup any products you will sell.  You will need to setup your business, corporation, tax information, and employees to get started.

Go over your accounts monthly, and track receipts, deposits, and bank statements to your folders.  This would be a good time to consider using proven Beauty Salon & Spa accounting software.

Salon & Spas are cash-intensive businesses.  Features you might need in your accounting software include payroll, inventory, commissions, invoicing, payments and reports.

Hire a Professional Salon & Spa Bookkeeper to Help Out

Salon & Spa owners are no different when it comes to needing help.  If you are not interested in struggling with all the setup and management of the software, look into hiring an online salon & spa bookkeeping expert to come help you.  Rather than struggling with this, make accounting easier by hiring a bookkeeper or investing in salon business management software.  These tools can help you track your expenses, and generate invoices.  This will help you implement bookkeeping practices for your salon business.

Also, don’t be like other salon owners, and wait until the end of the tax year to get their financials organized.  Waiting until the end of the year can also result in more errors so be careful about being too hurried.  If you follow these simple bookkeeping guidelines for salon & spa business, your year-end tasks will be less daunting.  You will be better prepared to meet your salon business financial obligations.

Your main goal is to get clients to come in so you can, in turn, provide them with a great experience, so make sure to use technology to help you.  So, let STAC Bizness Solutions help you with your Salon Bookkeeping.


Looking for a QuickBooks Expert?

QuickBooks ProAdvisor Houston Tx

Working with a QuickBooks ProAdvisor is the best way to learn how to use QuickBooks to help your business grow and flourish. You won’t find a better way to get the support you need anywhere else.

As a small business owner, we realize that you may not have the budget to hire a QuickBooks expert. If you’re looking for a more economical way to get set up on QuickBooks, we provide cloud bookkeeping programs to match any business requirement. Here are our Quickbooks ServicesQuickBooks SetupQuickBooks Training, and QuickTune-up.

You can feel confident in knowing that our STAC Bizness Solutions team are Certified QuickBooks ProAdvisors. Meet Our Team.

If you would like to learn about all the benefits that STAC offers, just give us a call and we’ll provide you all the details. Call us at (844) 424-9637.

Hire a QuickBooks ProAdvisor

To schedule an initial consultation with us, please click the button below.

Top 20 Online Marketing Tips for Salons & Spas

Top 20 Online Marketing Tips for Salons & Spas

All Salons & Spas are looking for new ways to market their salon.

Here are our top 20 online marketing tips for Salons and Spas:

1.   Create a clean, professional, easy-to-use website for your customers that attracts and converts.

2.   Utilize social media ads to target prospective customers.

3.   Write informational content about your business on your site.

4.   Start a blog. Content marketing is one of the best ways to get new customers online.

5.   Use lots of good calls to action on your website for onsite conversions.

6.   Create a video to use in online marketing efforts.

7.   Optimize your website for search engines so that you rank higher and are easier to find.

8.   Advertise in an online/offline Salon magazine (preferably local).

9.   Create a Salon & Spa Brochure for your business. Market the salon & spa to new prospective customers living in your target area.

10.  Send out a coupon mailer to increase your customer loyalty using a very cost effective direct marketing strategy.

11.  Use social media to communicate with your followers. Remember to post about your work and any specials. Ask for customers to give you a review.

12.  Attend local events, and get involved with the community. This will help your online marketing with some face to face time.

13.  Track and follow your competitors one to see what they are doing to gain customers.

14.  Send thank you emails for showing your appreciation to your customers.

15.  Try using SMS text messaging to market to your customers.

16.  Use a point-based loyalty program for salon & spa products and services.

17.  Send out a survey to see how your salon is doing and gain insight from your customers.

18.  Create events and contests that help spread the word about our business through social media.

19.  Get involved in local and national Salon & Spa Events and have them showcase your efforts and link back to your website.

20.  Find local charities and community organizations to showcase and link back to your Salon & Spa.

Start using these online marketing tips for your salon & spa, and watch your beauty salon & spa grow!

Your main goal is to get clients to come in so you can, in turn, provide them with a great experience, so make sure to use technology to help you.  So, let STAC Bizness Solutions help you with your Salon Bookkeeping.  If you’re looking for help managing your books, we provide salon business cloud bookkeeping programs to match any salon or franchise salon business requirement.  Here is more information on our salon business bookkeeping services.  Our team are all Quickbooks ProAdvisors.  Meet our Team.

Contact STAC Bizness Solutions today to see if we can help.

We will provide you with a no-obligation FREE consultation!

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10 Things Your Competitors Can Teach You About Your Salon & Spa

10 Things Your Competitors Can Teach You About Your Salon & Spa

When it comes to owning a salon or spa, it’s critical to keep up with your competition.  There’s a lot to learn from other salons and spas like yours.  Let’s find out what they’re doing correctly.

Here are 10 things your competitors can teach you in the Salon & Spa industry:

1. They have built a beautiful online destination for their customers.

2. They are using sound context-rich SEO strategies.

3. They are using Social Media extensively.

4. They are writing a Salon & Spa Blog.

5. They are using Salon & Spa Bookkeeping software.

6. They are getting savvier with Salon & Spa Technology to manage it all.

7. They are using very good Offline Marketing Strategies.

8. They are researching their competitors to see how they can improve.

9. They are using case testimonials to showcase their work, and monitoring their Reputation online.

10. They are using Marketing Campaigns to gain more local exposure.

Your main goal is to get clients in the door and provide them with a great experience.  Let STAC Bizness Solutions help you with your Salon Bookkeeping obligations.  If you’re looking for help managing your books, we provide cloud bookkeeping services customized to match your business needs.  Here is more information on our salon business bookkeeping services.


Looking for a QuickBooks Expert?

QuickBooks ProAdvisor Houston Tx

Working with a QuickBooks ProAdvisor is the best way to learn how to use QuickBooks to help your business grow and flourish. You won’t find a better way to get the support you need anywhere else.

As a small business owner, we realize that you may not have the budget to hire a QuickBooks expert. If you’re looking for a more economical way to get set up on QuickBooks, we provide cloud bookkeeping programs to match any business requirement. Here are our Quickbooks ServicesQuickBooks SetupQuickBooks Training, and QuickTune-up.

You can feel confident in knowing that our STAC Bizness Solutions team are Certified QuickBooks ProAdvisors. Meet Our Team.

If you would like to learn about all the benefits that STAC offers, just give us a call and we’ll provide you all the details. Call us at (844) 424-9637.

Hire a QuickBooks ProAdvisor

To schedule an initial consultation with us, please click the button below.

Hire a Beauty Salon Bookkeeping Team to Manage Your Salon Business

Hire a Beauty Salon Bookkeeping Team to Manage Your Salon Business

Hiring a Beauty Salon Bookkeeping team to manage your bookkeeping, payroll, and tax preparation for your Salon business will give you more time to work on your salon business.  Running a successful salon requires more than pampering your customers.  It also requires careful financial planning, guidance, management, and tax strategies to reach a successful profitability.

Every small business owner questions outsourcing certain aspects of their business.  As any business owner, a salon owner best spends their time directly with their customers.  When unable to manage all of the financial responsibilities of their day-to-day business.  It’s obviously a good time to outsource the bookkeeping process.

Why Hiring a Beauty Salon Bookkeeping Team is the Right Choice?

Whatever type of salon you own, a bookkeeper can help you support your salon business by handling your bookkeeping tasks and back office procedures.  A bookkeeper will help you manage your salon books:

  • Provide a full review of your Salon business and manage your books.
  • Setup stylist and other employees status.
  • Determine percentages of sales and booth rental rates for independent contractors.
  • Setup your tax and payroll obligations.
  • Provide monthly finance reporting – balance sheets, profit and loss statements, bank reconciliation.
  • Help you determine between a cash method or accrual method of accounting for your business structure.
  • Support your expansion goals and help you secure financing.
  • Provide small business advice – including tax and audit support.

We will work to Maximize the profitability of your Salon Business based on the services, the products your salon business sells.

If you’re looking for help managing your books, we provide salon business cloud bookkeeping programs to match any salon or franchise salon business requirement.

Don’t ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.

~Tilman J. Fertitta

Your main goal is to get clients in the door and provide them with a great experience.  Let STAC Bizness Solutions help you with your Salon Bookkeeping obligations.  If you’re looking for help managing your books, we provide cloud bookkeeping services customized to match your business needs.  Here is more information on our salon business bookkeeping services.


Looking for a QuickBooks Expert?

QuickBooks ProAdvisor Houston Tx

Working with a QuickBooks ProAdvisor is the best way to learn how to use QuickBooks to help your business grow and flourish. You won’t find a better way to get the support you need anywhere else.

As a small business owner, we realize that you may not have the budget to hire a QuickBooks expert. If you’re looking for a more economical way to get set up on QuickBooks, we provide cloud bookkeeping programs to match any business requirement. Here are our Quickbooks ServicesQuickBooks SetupQuickBooks Training, and QuickTune-up.

You can feel confident in knowing that our STAC Bizness Solutions team are Certified QuickBooks ProAdvisors. Meet Our Team.

If you would like to learn about all the benefits that STAC offers, just give us a call and we’ll provide you all the details. Call us at (844) 424-9637.

Hire a QuickBooks ProAdvisor

To schedule an initial consultation with us, please click the button below.