Planning for Profits

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A spa's greatest asset is often a skilled staff and naturally the single biggest expense in business operations; employee compensation. In my opinion, even the most effective products and fine-tuned protocols can't make up for a lackluster esthetician, so the expense is worth it. This interesting table from the Global Spa & Wellness Summit shows how much compensation varies around the world. These variations reflect the importance of personal skincare in a specific locale or region, and the value placed on overall health and appearance.

Keeping up to date with how your spa's labor costs measure up is vital to maintaining a profitable business. That is easier said than done. If you're left stumped or just want to improve your financial know-how, register and tune in to SpaBooker's upcoming webinar on Feb. 2 at 1:00 pm EST. A panel of spa and salon industry experts—senior SalonBooker marketing manager Tanisha Foster, Wynne Business Spa Consulting consultant Lisa Starr, and SpaBooker marketing manager Molly Southern—will answer your questions and seek to explain how you should approach your compensation strategy so you can ensure that you'll remain profitable as your business grows.