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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.

Click here for great resources including Furlough letters to team from the NHBF

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Posted in: News, Business Building, Education