Modern Menu & Hybrid Pricing with Michelle Wheatley S3: EP 101

Join the Free Facebook group www.facebook.com/groups/salonandsuitebusiness https://beautybusinessguides.com/ As a beauty business coach she helps  Salon Owners, Independent Hairstylists and Beauty Professionals build stronger businesses. As a Salon Owner and Stylist of 20 years, she's been successful in building 2 salon businesses while navigating the changes in our industry. She has created a revolutionary approach to structuring salon menus, services and pricing by creating a Modern Menu & Hybrid Pricing Blueprint, as well as a comprehensive business auditing plan that puts salon owners well-being and profits first. What challenges did you face when you started Tell us about your salon model and the good, bad and the ugly truth of business ownership? Why did finances and numbers become your obsession? You coach salon owners 1:1 and do a salon audit.  What things do you look for and what do you think most salon owners are missing in the business? What areas in salon business are overspending or can cut costs? When you started to buckle down and understand your expenses and prices, what were some things you found that surprised you? You shed light onto taxes and write offs.  What are some misconceptions you have seen or heard as a coach? You coach salon profit.  With all the money going in and out, where can salon owners start a better cash flow and profit trajectory? When it comes to numbers you are a wiz at breaking down formulas to help owners understand their business. What was that experience like figuring out a way to simplify these numbers to help transform businesses? You teach towards many different business models.  Do you have a favorite and why? Can you tell us what the Modern Menu is? When it comes to creating a menu, what are the most common mistakes you hear salon owners making? It’s been a hot topic the past few years of hourly pricing in your experience. What are the pros and cons of this method? Hybrid Pricing Besides menu and pricing creation, what other KPIs do you think are the most important to track to determine success?

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