Where can you gather some of the best thought leaders among salon businesses, encourage them to share their data and best practices, and offer them a forum to discuss some of today's biggest business challenges? The 2 to 10 Leadership Conference.
Held recently in downtown Chicago, the conference attracted 175 owners, managers and other leaders from 45 multi-location salon companies, who came together for two days of inspiration, peer networking, education and strategy sessions. Participants connected with peers in a dynamic setting, learning new solutions to today's most pressing business challenges.
Member salons and spas, who all had between two and 10 (or more) locations, included a dynamic mix of salons--diverse by region, product line and business model. The average 2 to 10 member has more than $9,000,000 of sales revenue and 4.3 locations.
In its third year, the 2 to 10 Project was started by Tom Kuhn and Qnity to address the unique demands multi-location model. A limited number of memberships are available. For more information, visit 2to10project.com and qnityinc.com.
Highlights from this year's Leadership Conference included:
· Findings from the third annual Financial Benchmark and Best Practice Study.
· Distribution of private scorecards to member salons (iPads provided by SalonBiz!)
· ‘2to10 Talks’ featuring industry icons and next generation leaders, moderated by Tom and Erin Kuhn
· Affordable Care Act Panel with Adam Bluestein (Inc. Magazine), Marilyn Ihfoff and ADP
· ‘CFO Summit’ with top financial pros of member salons, led by Barry Matthews
· Breakouts discussion groups (marketing, education, HR, finance & education)
· Industry Insights panel moderated by Sandra Cashe with SalonBiz, DemandForce, Eurisko and PBA
· Prosperity Culture by Qnity
· Turning Ideas into Action led by Qnity moderators Teresa Jackson, Brigette Sobus, Amy Carter, Carol Augusto and Alexis Bourdamis
· Peer Networking, including champagne toasts to open and close the program and a Sunday evening Dine and Discover
Highlights from 2 to 10 Project Study
Much of the data from the study is confidential and available only to 2 to10 members. In accordance with our member agreements, the 2 to 10 Project is pleased to share select findings for Salon Today readers.
Aggregate Totals For The 2 to 10 Member Group
TOTAL GROSS REVENUE: $379,266,150
AVERAGE REVENUE PER COMPANY: $9,030,146
AVERAGE NET INCOME: 4.9%
PERCENT OF REVENUES FROM SERVICE: 83.2%
PERCENT OF REVENUES FROM RETAIL: 16.8%
LOCATION COUNT: 182
TOTAL SQUARE FOOTAGE: 799,639
FULL TIME EMPLOYEES: 5,682
TOTAL TICKETS: 5,784,997
AVERAGE LOCATIONS PER COMPANY: 4.3
2 to 10 Members
MILK AND HONEY**
* 2011 participant
** 2012 participant
*** 2011 & 2012 participant