Imagine waking up to the symphony of nature—no alarm clocks, no phone calls, no appointments! Imagine stretching and getting out of bed, making coffee, and peering out your window to see only the sea for miles and miles. Imagine that your only plan for the day is to sit back, relax, read a book, and take a walk. Do you need a bit of that right now? Have I got your attention? Good!
Have you been able to go on a vacation twice a year for the last five years and not have to double- or triple-book yourself for weeks before and after the vacation just to be able to go? If you have gone on vacation, has it been to places you really want to go? Additionally, are you going the way you want to or do you have to watch your spending when you go? Have you even gone anywhere at all?
Some of us in the industry consider attending a hair show to be a mini vacation. I have actually heard people say that. Craziness!
Seventy-four percent of salons and spas are not making a profit today, which means that most industry professionals are living paycheck to paycheck or worse. When you live that way, you can't really go on the type of vacation you would like to nor as frequently as you would like unless you max out your credit cards to do it.
How do you create a plan to turn this around?
Start with Budgets.Creating a budget will allow you to see the road ahead, plan for pitfalls before they occur, and plan for your financial abundance.
If you own the business, you have to know how much you need to bring in to pay the bills, pay yourself, and allow your business to make a minimum 10 percent profit margin. After you have this planned out, you can figure in how much additional you will need to bring in so that you can afford to go on the type of vacations you deserve for the amount of work you do.
For example, let's say your business needs to bring in $1,400 a day, five days a week, to pay the bills, pay the business 10 percent in profit, and pay you your salary. More importantly, don't overlook the power of retail. Do you have a retail strategy in place? If not, make one ASAP. Not only will it help increase your client's satisfaction, it will also help you get closer to your vacation goals!
Let's say, with research, you find that the two vacations you'd like to go on will cost you about $3,000—for you to go the way you want to go. That $3,000 divided into 12 months is $250 a month, and that $250 a month divided into 4 weeks is $62.50 a week. Taking $62.50 a week, divided by 5 days in the week, comes to $12.50 a day. If you see six clients a day that means you would need to grow your sales by an average of just $2.08 per client to pay for your vacation trips.
Not too hard, is it? The thing is that you wouldn't know that number if you didn't know your budget!
The Next Step: Plan Your Trips.At the beginning of the year, plan your trips and time off. It should be the first thing you do. Let me tell you that knowing there is a busy year ahead of me and that I have strategically placed my vacations around my busy times of travel, has made all the difference in the world.
Keep These Pointers in Mind
Here are a few more important points I'd like to make as I wrap this up.
Finally, go and enjoy the fruits of your labor. You make so many other people look and feel great for a living, now it's your turn to go and let someone else do the same for you. Your team at work plus the people you meet will help take care of you on your journey.
In this post, we talked about how budgeting, retailing, and planning can get you closer to your dream vacation goals. Here are two tools that can help you polish these skills:
Make More Money with Retail Online ClassSelling retail to every client you see will get you closer to your savings goal every day. Take this easy-to-follow online class to become a retail expert.
Goal Setting Basics Online Class
You have a goal: take a vacation. But how do you reach it? This online class will walk you through the steps to make your dream a reality.
Michelle Campbell is the Content Marketing Specialist for MiladyPro.
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