Profit forecasting for a successful return
Ken West, Director of 3∙6∙5 Salon Education discusses profit forecasting for a successful return to the high street.
- Sign up for free daily updates from the government sent straight to your phone
- Ensure that you follow any necessary legal proceedures when furloughing your team. See the NHBF link below for great advice and free tools
- Ensure that you fully understand the repayment terms of any loads you take out from your bank. They vary.
- It's time to plan your return. What profit to you need to make in order to pay back any loans you have taken out from the government scheme?
- Digitalise your accounts, now it the time while you have the time
- Think about how you are going to work differently in the salon when you reopen. What will be your new normal?
- Look at your pricing. There is no point being competetive if you aren't profitable.