Learn here how to find where the 5 core salon economic metrics are on Slick!
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If you're looking to evaluate your business, these key metrics will help you to understand how you are doing.
They key metrics to consider when evaluating your business are:
Find out below where to find these in Slick and more about what they mean to you!
Occupancy
Occupancy is how full your calendar is. This can be a great indication of how busy you have been and therefore how much revenue you are likely to achieve. You can look at occupancy per staff member or for the salon as a whole. You can access this from menu - reports - Staff KPI's and it is the first table at the top.
The table looks like this with the occupancy column highlighted in red.
Cancellations
Cancellations are all bookings marked as cancelled in the calendar, including those which have been deleted.
From menu - reports - staff KPI's you can see the 'appointments' table. Here we have highlighted the columns for cancelled appointments, value of cancelled and the value of cancelled/no show appointments.
These will give you a great insight into how much you are losing to cancellations!
Average bill value
Your average bill value is on average, the amount that your clients spend per visit. You can access this from menu - reports - Staff KPI's and it is the first table at the top.
This tells you a lot about how well you are pricing and how much your clients are willing to spend per visit.
Rebooking %
Your rebooking rate refers to the percentage of your customers that will rebook an appointment within 24 hours. From menu - reports - staff KPI's you can see the 'Clients' table.
Below we have highlighted the columns for clients rebooked and the rebooking rate. These show you the individual number of clients that have rebooked and what percentage of a staff member/the salons clients rebook!
This can tell you a huge amount about client loyalty! More rebookings, more loyal clients.
Frequency
Your client visit frequency can be found from menu - reports - staff KPI's and the 'Clients' table.
This tells you what your average number of weeks between visits is for your staff members and salon as a whole. Reducing this number of weeks will help to increase loyalty and revenue for your business!
If you would be interested in learning more about what these metrics mean and how getting familiar with them can benefit your business then please send us a message on Live chat and we can help you to understand them in depth.
If you are entitled to them, we can also help you organise a business coaching session with your business coach. Once more, if you aren't sure if you are entitled to these sessions then let us know via Live chat and we can advise!
If you have further questions that haven't been answered in this article then please reach out to us on Live Chat via the chat bubble in the bottom right corner!