Whether your spa is stand-alone or part of a hospitality structure (hotel, cruise ship, or other), the aim is profitability. As manager, decisions you make determine whether your spa operation will stay afloat. Moreover, using the balance sheet as a means to achieving your vision will drive your spa to accomplish its real potential.

You need to be able to understand Profit & Loss statements, balance sheets, evaluate daily revenues and expenses and make appropriate and defendable financial decisions that will lead to the development and success of your spa operation. In view of this, the Finance theme of the programme will cover:

• Financial planning
• Budgeting
• Service & product margin analysis
• Profit & Loss statements
• Investment (in technology, renovation, refurbishment, training)
• Product pricing
• Staff payroll projections and the bottom line
• Key value drivers
• Performance indicators
• Feasibility

Knowledge

• Identify major implications of financial accounting and information
• Recognize primary factors for budgeting
• Explain the relationship between risk and return
• Identify the value drivers of your spa

Competences

• Analyze P&L statements
• Implement financial plans and a sound budget
• Analyze the performance of your spa at a business and operational level
• Use financial tools to make sound business decisions

Mindset

Visualize your spa as a revenue centre