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Management Practices

Milady

November 5, 2012 | 11:13 AM

Milady

milady.cengage.com
800-988-7498 Ext. 2700 • [email protected]

MiladyMilady has been the #1 provider of beauty and wellness education for the past 85 years. But did you know Milady also provides business education for licensed stylists, salon owners and salon managers? We offer online business coaching courses to help you boost profitability, improve soft skills, and train your staff. But that’s not all—we have been working hard to unveil our newest creation, the Milady Education Network, an online community and education hub for all your business needs.

WHY WE’RE DIFFERENT: In order to have career longevity you must continue your education after first entering this industry. We’re fortunate to be able to provide helpful and relevant education each and every day to ensure success for all those who are striving for it.

HOW WE WORK: Simply put, our goal is to bring education to you at an affordable price. Created by industry coaches and professionals who understand the needs of stylists and salon owners, our online courses equip the individual with systems and solutions to solve everyday challenges. We are pleased to bring the business acumen needed for success and profitability in a brand new online course, “Business Principles and Practices for the Salon and Spa.” We’re also launching “Front Desk Training for the Salon and Spa,” as well as “Branding Strategies for the Salon and Spa,” to name a few.

CATCH US AT: Online at miladyednet.com

WORDS OF WISDOM: Milady Professional Development Manager Steve Gomez shares this: “Create ‘Reflection Time!’ As a business leader, nothing is more important than you giving your business and all of its nuances and complexities the time and attention it needs from you. Block out at least three hours each week where you can be uninterrupted. With this time, reflect on sales, marketing, operations, finance and, your team. Get out of the daily grind, think larger and long term. Your business and our team are counting on it.”

BETTER BOTTOM LINE IN 2013: Gomez suggests a price increase: “Mark it up! Analyze your retail inventory. Look for what SKUs or items are not moving and create a 30- to 60- day plan to turn them around. While you are working on underperforming products, take your top 10 sellers and mark them up 10 percent. This increase will be minimal in terms of dollars and cents and will have little notice from your clients. This slight increase may increase your sales by 50 to 75 cents an item. However, when you add that amount into your overall sales volume, you will increase sales to cover the amount you have been spending on slow movers, giving you the cushion you need to make the right decisions with regard to keeping certain products on your shelves.”

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