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YOU ARE HERE: Home Spa Management and Operations Financial Management Cost Containment Strategies

Cost Containment Strategies
  • Be objective regarding what sells with regard to a la carte services, packages, times of the day, etc. and make appropriate adjustments
  • Be flexible enough to adjust to various market demands
    (or lack of demands)
  • Measure staff productivity to contain payroll
  • Analyze spa utilization and adjust hours of services when applicable
  • Cross traing staff for flexibility and versatility
  • Establish internal controls, including a cost-analysis and inventory control system to minimize waste and shrinkage
  • Barter and trade-out whenever possible
  • Use independent contractors and part-time employees if possible
  • Do comparison shopping and negotiate with suppliers
  • Get staff involved in cost saving measures
  • Expenses make the difference between profit and loss
  • Timely reporting system

 
Article ID: 089
Created:
April 16, 2004
Modified:
June 9, 2005

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