I’m often asked if a service professional can make 6 figures a year. The answer is YES! Trust me, it’s not just a pipe dream. As a matter of fact, I personally know several salon or spa professional earning 6 figures.    

How do they do it? It’s simple. First, start with a clear financial goal. How much money do you want to earn? Second, you need to know your numbers.      

What numbers do you need to know? For starters, you’ll need to know your average ticket totals. It’s the average number of dollars your clients are spending on a service and/or retail. It’s an easy formula:    

• Step 1:  Add up your total number of customers for the day (example 5 clients) 

• Step 2:  Add up your total service dollars for the day (example $225) 

• Step 3: Add up your total retail dollars for the day (example $75)  

• Step 4: Divide your grand total for services & retail by the number of clients you serviced for the day. (example $60, average service/retail ticket total) 

Voila! You have your average ticket total. Let’s put this formula into a year forecast. If your average service/retail ticket is $60 and you see 5 clients per day, your daily total is $300 x 5-day work week =$1,500 x 52 weeks for the year = $78,000. 

If you want to earn more money and get closer to earning those 6 figures, take the steps to increase your service tickets. That’s it!     

Using the same example about, if you increase the average service and retail ticket average by $5, you would increase your yearly sales to $91,000 per year.  Now, we’re talking! By simply adding an additional service or another take-home product, you’re well on your way to achieving the lifestyle you desire.  

Knowing your numbers is a powerful tool to help you achieve your goals. I personally recommend that you get into the habit of tracking your numbers on a daily, weekly, monthly basis. There are several effective tracking tools available, I suggest you check out our goal-tracking journal. 

Photo: Shutterstock | Dean Drobot

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