Salon Owners: Avoiding Your Numbers is Costing You

“I avoid looking at my numbers”

Is this relatable?

Here’s the secret - it is lack of KNOWLEDGE that keeps you scared and stuck when it comes to engaging with your salon’s financials.

It’s not hard - it’s the UNKNOWN that makes it hard. BUT small changes make a BIG impact.

Your financials tell a story - and you need to understand that story. It is imperative that you understand your numbers - because they are YOUR numbers - they’re not someone else’s numbers.

Here' are three things you need to know to FINALLY understand your numbers:

UNDERSTANDING YOUR Financial Reports

Once you start looking at your reports (and you don’t have to do it alone! HarQuin offers FREE reports training to understand your reports) the fear melts away. Now you can determine your salon’s fiscal health and make changes where needed.

Profit And Loss Statements: Your Salon’s Financial Mirror

A profit and loss statement doesn't just reflect how much cash is flowing in from your hair treatments or facials. It also shows you your expenses. Identify trends over the months or seasons and use this report to see things like if your marketing efforts are paying off. You’ll want to see income outshine expenses in certain categories.

The Balance Sheet

Your balance sheet shows what you own versus what you owe at any given moment. Assets should ideally outweigh liabilities; if they don’t, it might be time to rethink inventory levels or renegotiate with suppliers for better terms.

If numbers aren’t your thing, fear not! Numbers are OUR thing! And we are here to support you. Get a free estimate here! You don’t have to do it alone. We are in this together.