151
0.8%
Are you tracking your extensions revenue and costs properly? Extensions can be very profitable for your business but they also cost a lot. If you charge a client $1200 for hair it's $36 in just CC fees. Many times we see huge numbers coming in but because the cost to produce the service is so much, you're left with lower margins. Margins are the % or revenue you profit after paying for the cost of the service. Although the margins looks low, the profit is actually high because you really didn't pay for the hair, the client did, you are just the middle person. It's also important that you track deposits properly. A portion of payment could have been taken in 1 month but the service was done in a another, this will mess with your numbers. This is why it is important to track: 1. When the client paid the deposit 2. The cost of the hair 3. The service date 4. The remainder of the service cost When you keep this information you have a better idea of you extension revenue and spending, therefore a better idea on what your profit is.
151
0.8%
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