I0 Financial Success Factors of Top Spas
1. Make profits by controlling expenses
2. Operating expenses no more than 60% of gross revenues
3. Total payroll less than industry average
4. Produce weekly and monthly financial reports
5. Make comparisons of actual to projected revenues and expenses
6. Top 5% generate 30% return on revenue
7. Profit center manager's compensation tied to the bottom line
8. Capital reinvestment of 4-6% of gross revenues for new equipment and services
9. Look at results from every revenue producing area (RPA)
10. Compare balance sheets to budget projections