You need a clear salon profit target to know if your business is truly successful. In this episode, Phil Jackson shares simple, no-nonsense steps to track and grow your profits.

Set a clear salon profit target
Most salon owners don’t know their profit target. Phil says if you don’t set one, you won’t hit it. Use her free cheat sheet at queenofsalons.com to check if your salon is actually making money. It’s not just paperwork, it’s what your business needs to succeed.

Track real-time takings reports
Your salon software should show accurate numbers every month. But many reports don’t add up. Takings, services, retail, and vouchers don’t match. Phil says this is nonsense. Real-time data is better than old accountant numbers, and it helps you make smart choices fast.

Cancel software that you don’t use
If you’re not using the reports from your software, cancel it. You can get a free calendar app with online booking links for a fraction of the cost. Google Calendar now offers free booking links, so you don’t need expensive software if you’re not using it.

Know the true cost of small expenses
A £69 monthly website bill needs £4,140 in service revenue each year to cover it. That’s 103 Hollywood waxes at £40 each, or 276 kid’s cuts at £15. Think hard before spending on things that cost so much to break even.

Avoid low-return spending
Spending £69 a month on railway station ads costs £828 a year. To break even, you need £4,140 in sales. That’s not smart. People don’t walk into stations and think, “I need a wax now.” That money could go to better uses.

Check if your software is worth it
Paying £200 a month for software? At a 20% profit margin, you need £10,000 in sales just to cover it. That’s like doing 218 back sack and cracks to pay for it. Only keep software that gives you real, useful data.

Track numbers as a daily habit
Seeing numbers isn’t a chore. It is the highest leverage habit you can build. When you know your numbers, you know when enough work has been done. You take what your business is meant to earn, not what’s left over.

Phil Jackson shows you how to turn your salon into a profitable, clear-thinking business through Build Your Salon. Visit buildyoursalon.com for more guidance.