The business enterprise that this paper focuses on is a beauty salon. A beauty salon has various resources that have to be effectively managed in order to enhance effective running of the business. First of all, it is important to record the amount of startup capital that was used in the commencement of this business environment. The manager of this beauty salon also has to set an objective of how much income should be made on a daily basis in order to make sure that the business remains in the market. The daily income of a beauty salon should be kept track by making sure that there is a conduction of book keeping and accounting records on a daily basis (Cressy 39). In this way, the manager can be able to deduce the average income that is made in a daily basis.
Considering the fact that beauty tools are in constant use, there is a high likelihood that there is continued replacement of these tools and devices that has to be made on a daily basis. This means that in calculating the net profit for the day, the figure that is obtained has to account for tools that were maintained or that need to be replaced. Managers of a salon should also put stricter measures to the workers within the beauty salon so as to reduce the amount of damage that might be caused on the tools that are used in the beauty salon. In addition, it is important that at the end of each business day the condition of the tools is checked and evaluated to make sure that tools are maintained and monitored. A beauty salon in some cases depending on the size requires a couple of employees who will be giving services to the costumers who visit the salon. Beauty salon should make sure that they employ the right number of workers. The more the workers employed at a beauty salon, the greater the cost of production. When the cost of production in a beauty production is high, the profit margins continue to shrink. Therefore, there is a need for a beauty salon to make sure that it effectively manages its human resource. It is more profitable for the beauty salon to have two competitive employees at the beauty salon than to have four employees that are incompetent. This is because the more the workers in the salon, the more money that the manager of the beauty salon has to part with in form of wages.
Time is also another important resource within a beauty salon. The more the time that the beauty salon opens, the more money that the beauty salon pays in the form of hourly wages for the employees, and also in the form of utility bills in the form of electricity and water. This means that the hours during which the salon is open should be comprehensively utilized to generate profit. Work ethics such as punctuality of the employees is something that that managers of the beauty salon should observe at all times ( Welburn & McNeil 41). In addition, as a tactical skill beauty salons should try and open during peak hours. This means that beauty salons should open in the evenings when many people are leaving work and going home because they are more likely to get their hair done at that time. In addition, a high traffic of costumers can be experienced during weekends when people have the time to wait at beauty salons. Therefore, beauty salons have to effectively control their capital, human resources, and time if they are going to maximize their profits and remain in business.
Works Cited
Cressy, Susan. Business management for hairdressers and therapists. London: Heinemann, 2003. Print.
Welburn, Janice, and Beth McNeil. Human resource management in today's academic library meeting challenges and creating opportunities. Westport, Conn.: Libraries Unlimited, 2004. Print.
