More Revenue Per Customer
Honestly … This 4-month lockdown could be the best thing that ever happened to your business!
To maximize our return, we want to get an extra 20% from every client visit. Not everyone can be upsold, so you’re really looking at the need to double your revenue of every 5th client.
This is where my lack of domain knowledge will show I’m afraid!
High level, I would think a chiropractor could sell orthopaedic insoles, referrals to a dietician, exercise bands, self-massaging guns etc.
Train your practitioners as to what should be sold and in what context.
In addition, make sure that everyone has an element of commission or bonus so they have “skin in the game”.
In addition, this is the point to lean on your email list we warmed up above. Market special offers, promote last-minute empty slots and squeeze every ounce of efficiency from every hour you operate. Done correctly, this can add another 10% on to our sales with ease.
Given sales in year 2 were $1.04m and we’ve already worked to retain our customer base then you’re looking at an addition $200k per annum in upsell revenue ($20k per month). After a 20% commission/bonus structure we’re putting $16k per annum back into the business when we return from lockdown.
Added on to that is the $100k per annum from our mailing list efforts and we’re looking at an additional $26k per month at little to no extra cost.
Our cash reserves can, therefore, build up at $28k per month, earning us 1 month of safety for every 2 months of operation.