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Old 08-28-2010, 11:42 AM   #1 (permalink)
 
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Profit or loss??

We've been in business a little over a year and have made no profit - zip, nada, nothing! We knew we weren't going to make our "first million" with our salon, but didn't think it would be this bad. How long did it take some of you before you started showing a profit?
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Old 08-28-2010, 12:26 PM   #2 (permalink)
 
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Re: Profit or loss??

We are in the worst of times and you are wondering why you aren't a millionaire? When the economy recovers you will have more cash than you know what to deal with.
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Old 08-28-2010, 01:16 PM   #3 (permalink)
 
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Re: Profit or loss??

Quote:
Originally Posted by jbritt View Post
We've been in business a little over a year and have made no profit - zip, nada, nothing! We knew we weren't going to make our "first million" with our salon, but didn't think it would be this bad. How long did it take some of you before you started showing a profit?
We just passed the one year mark for our salon as well. We are making a healthy profit. Every salon and every market will be different.

You MUST have a strong business plan, if you don't then you should not be in business.
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Old 08-28-2010, 03:21 PM   #4 (permalink)
 
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Re: Profit or loss??

We opened in April and caught some of the spring rush. Doing ok now in JASON, but just getting by.

Continue to MARKET ! We have new customers every week. I think we will be slammed this busy season when they all come in for that spring break tan.
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Old 08-29-2010, 08:16 AM   #5 (permalink)
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Re: Profit or loss??

I'm not going to sugar-coat anything; if I had any debt at all, I'd have to close the doors. I haven't taken as much as a hundred dollars draw since last May. It's been a down hill slide since we opened over 5 years ago. How's that for optimism?
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Old 08-29-2010, 08:41 AM   #6 (permalink)
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Re: Profit or loss??

Same Parrot. Same. We are adding new services like crazy, airbrush (have Mystic already) teeth whitening, Acupuncture (already have massage and energy work)possibly sub let to a holistic life coach that is going to use a massage room once week to see her clients for cross marketing with energy/massage/acupuncture.

Possibly looking into RLT for one of our small rooms.
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Old 08-29-2010, 07:03 PM   #7 (permalink)
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Re: Profit or loss??

^^^I've tried it all. The college crowd doesn't do massages, saunas, waxing, use the massage bed, or anything else. They need any extra cash to buy beer. Your success comes from the more professional type cliant. But, I will say the economy is the real killer here in this small college town. The kids are back next week,, but the excitement that was, for the first 3 years just isn't justified anymore. Maybe I'll be surprised.
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Old 08-29-2010, 09:16 PM   #8 (permalink)
 
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Re: Profit or loss??

OK signed up on this fourm trying to find out what going on,i no times are bad but this is real bad, ive been in business for 23 years at a large campus in the south, 95% student base . this is the worst year i can remember , its like someone turned the tan switch off, Help any ideas !
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Old 08-29-2010, 11:58 PM   #9 (permalink)
 
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Re: Profit or loss??

22 years for me and yes this is like the late 80's, early 90's except the cost of doing
business is about five times higher now. People aren't spending money here or most
other businesses. I also believe the WHO report from a year ago is still strong in peoples memory. I doubt things will be better this time next year, just hope more
competitors close and you get whats left of their customer base.
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Old 08-31-2010, 10:15 AM   #10 (permalink)
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Re: Profit or loss??

20 years for me. Same. But it looks like this month will be the first month I am flat. We need to think positive.
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