Measured, Then Managed
The 2 to 10 Project is a study focused on the multi-location salons with between 2 and 10 locations. The study’s goal is to propel growth opportunities, drive higher profitability and create business success strategies for its participating members. This month, SALON TODAY asked 2 to 10 participants how they used the study’s results to guide their business decisions:
“The information we received from the 2 to 10 study directly impacted the planning of our new Adolf Biecker Spa/Salon which just opened in September. We focused on areas of the study were we had the greatest possibility for improvement, such as revenue per square foot, rent percentage and retail. We looked at how the design of our new space could impact these metrics and assist our team in meeting their goals, cut back on unnecessary non-revenue generating space and designed our retail area to be featured more prominently while remaining just as accessible to guests. We also used the information we gathered to measure each of our locations and individual team members. We made some adjustments to service provider goals and decided to change the focus of our education for the second half of the year. We’re now allocating a higher budget to business skills and benchmarking education, rather than focusing entirely on technical training.” --Justine Lehman, vice president, Jean Madeline, Inc.
”As salon owners we sometimes feel like we live in a bubble, running our salons as best we can in an industry that in the past didn't share statistics and best practices. The 2 to 10 project is a standard that we can now measure ourselves against--acknowledging our strengths and working on our weaknesses is no longer a matter of opinion, but an educated plan.”--Scott and Mary Randolph, Randolph’s Salon, White Lake, Michigan
“The 2 to 10 Study confirmed we were doing a lot right and just as importantly showed there was still a lot to learn in other areas.”--Brian Perdue, owner, Salon 124, Roswell, Georgia
“The 2 to 10 Project has advanced my financial intelligence faster than any other personal or professional coaching program I have ever experienced. The information was presented by people I respect in my industry and who had specific knowledge of the issues I face within my business. I use the project in working my plan throughout the year to help maintain the goals I have set. With each year I can benchmark myself against the collaboration of statistics that have been shared by the owners. I have also been given tested solutions from other salon owners in areas where I have opportunity. Becoming stronger in our finances has allowed us to grow the company quicker than we have in the past. It allows for a better work environment, higher morale, nicer facilities, increased advanced education, and a stronger guest care team.” --Eric Hammond, director of operations, John Robert’s Salon and Spa, Mayfield Heights, Ohio
"The 2 to 10 study set new targets for our company. We are industry leaders in our market and at times we fall in the trap of only looking inward at what we have already accomplished versus what can and has been accomplished by other companies that have stretched to new levels of success."—Lina Heath, president, EvelineCharles Salons|Spas|Beauty MD, based in Edmonton, Canada
“Basically, the study provides a framework for reviewing our P&L and making decisions. It's verified information that allows us to compare ourselves with more confidence to similar multi-location companies. For example, while there are certainly some salons that for a variety of reasons may be able to live with double digit occupancy costs, the study provides a solid reference that keeps us disciplined to stay under 10 percent. I think this type of research is extremely important because it focuses on a particular segment rather than the entire industry.” --Frank Zona, owner, Zona Salons, Norwell, Massachusetts
“The 2 to 10 Project helped me to see the strengths of our business and to be aware of our weaker points. That awareness created a sense of urgency to remedy those issues.--Mark ‘Pardo’ Gonzales, owner, Mark Pardo Salonspa and Aveda Institute New Mexico, Albuquerque, New Mexico
The 2 to 10 Project is the vision of Tom Kuhn, owner and founder of Qnity, an education and advisor company. To learn more, visit 2to10project.com or qnityinc.com.
Originally posted on Salon Today.