Strategy for bringing money in with all gift certificates that are coming in January

Hello everyone! What is your strategy to utilize gift certificates that were sold for holidays? I own a spa and we sold a good amount of gift certificates this season but now they all are calling and there is no new money coming in. Plus, we sold mostly massages and I want to be busy with facials as well. I would really appreciate your ideas

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Permalink Reply by Angela DeNorscia on December 30, 2014 at 7:35pm

Try to upsell other services...waxing or brow/lash tints? Also time to advertise something new for the year new facial, product etc. Also time to start people on a new skin care plan...sell packages of peels, dermabrassion, etc. Buy package of 5 get the 6th free type stuff. Good Luck

ps may i pick your brain about the micro-current machine?

thanks Angie

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Permalink Reply by Erina Lander on December 30, 2014 at 9:52pm

Hello Angie,

Thank you for your reply. As far as micro-current machine, I still have mixed feelings. I have bought Beautiful Image in July. Training was really bad and I mostly had to learn on my own, via Skype with another BI practitioners, who were very happy with it. Some clients get really good results and some are not that great. I find more impressive results when combining with the facial. If doing micro only, they have to commit to at least 5 but 10 is better , preferably twice a week, and not everyone can do that. Its also depends on the health and life style of the client and definitely is healthier option than Botox. I am still learning it and not giving up.

Hope it helps,

Erina

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Permalink Reply by Teresa Escoffery on January 7, 2015 at 9:07am

Part of the problem is you are thinking about GCs from a cash flow perspective, not from a profitabiliyt perspsective.

You aren't selling a GC, you are selling the promise of a future service, which means you have their money and you owe them something. That increases your cash on your balance sheet, but you also have a liability for what you owe the client on the other side. You don't generate a profit on the sale until you complete the transaction and something is bought.

But you treated your money as if that already happened and you spent those funds. If you sell a large volume of GCs, you should create a business savings account and transfer the proceeds from GC sales to that accounjt until they are redeemed to avoid this sense of "no new money" coming in.

The best way to create "new money" is in your product sales or cross-selling services. You can offer the MTs and incentive if they refer a client who is redeeming a GC for a facial.