Managing a salon’s finances and cash flow is essential to the running of a successful beauty business, but it’s a skill that doesn’t come naturally to most owners or managers.
The February 2022 issue of the Professional Beauty digital magazine includes an article on how to draw up the ideal budget. It is penned by Jared Hines, the owner and founder of the award-winning Hines & Harley Men’s Grooming Lounge. Hines should know what he is talking about, given that he personally has won several spa/ salon management awards.
In the article, Hines reveals the seven components that are essential in any good budget. He also advises that owners assign every rand a ‘job’, based on what they think is the best use of their business funds, Once that is done, owners should go back and compare their plan with reality to see how they did.
To read the article on pages 16 and 17 of the Professional Beauty February 2022 digital magazine, click here