Beauty Link - Volume 1, Issue 2 - (Page 53)

Q | b e a u t y s c h o o l s 101 | R MANAGE FOR MAXIMUM YIELD Part two of a two-part series John Halal, Hon o rs Bea u t y C o l l eg e P Part One of “Manage for Maximum Yield” examined yield management business strategies that maximize enrollment revenue by providing the right course, to the right student, at the right time, for the right price. Yield management business strategies increase efficiency and productivity, lower prices for consumers and maximize profits for the business. Time Is Money Part Two applies the same yield management business strategies to our student salon and spa to improve its effectiveness and profitability. In the same way that students purchase educational hours, guests in our student salon and spa purchase guest service hours. Although I don’t want to diminish the importance of the quality of the service, but as far as yield management is concerned, the service is secondary. The limiting factor is hours. We aren’t selling the service; we are selling the time it takes to perform the service. Each service requires a certain amount of time with a student at a guest service station. Maximum yield in the student salon and spa is the result of the efficient allocation of those resources and the sale of all the available time. STUDENT CLASS SCHEDULES SHOULD CORRESPOND TO PERIODS OF HIGH DEMAND FOR GUEST SERVICES. THIS IS THE REASON SO MANY SCHOOLS REQUIRE STUDENTS TO ATTEND SCHOOL ON SATURDAYS. The guest service station may be a hair styling station, massage bed, manicure table or any other area that is used to provide a guest service. Space requirements, initial cost and ongoing expenses for different guest service stations vary greatly. A private hydrotherapy wet room has a high initial cost for equipment and construction, high ongoing maintenance expenses and a rather large footprint. Two or [c o n t i n u e d o n p a ge 5 4] B E A U T YL INK | TO O LS O F T H E T R A D E 2 0 0 9 | 53

Table of Contents for the Digital Edition of Beauty Link - Volume 1, Issue 2

Beauty Link - Volume 1, Issue 2
Message from the AACS President and CEA Chair
The Workings of Washington
The Ergonomics of Cosmetology
Creating the Perfect Brow
Smart Technology
Is Your Web Site Hooking Visitors?
And Then There's Compliance
Voices from the Classroom
Marketing to Male Clientele
Lasers in the Esthetics Industry: Past, Present and Future
Unemployment’s Influence
2009 AACS Select Industry Partners
The Less Common Road
Candid Cameras
Regulatory Issues
CEA Convention
Early Warning Indicators
Beauty Schools 101
Multicultural Corner
Upcoming Events
New Products & Services
People & Places
2009 AACS Spring Management Conference
New School Member Profile
Look Who's Reading
Index to Advertisers

Beauty Link - Volume 1, Issue 2