Inventory is a necessary and one of many important things in your salon. Retail sales have a potential of multiplying a salons revenue, if done properly. Not only are retail products important but so are salon supplies that affect the ability to provide quality services. So to run your business properly it is important to always be well stocked, but also knowing what needs to be stocked or else you will only be collecting dust. Here are some helpful tips to manage your inventory.
Ordering Retail Products
Know what items sell quickly. The best way to keep track of what items sell are not by guessing but rather by creating a report on your computer. For example if you typically sell anywhere from 10-12 bottles of shampoo a week and order every two weeks, make sure to order enough to have about 36 bottles while you wait for shipment. It is rather important to have a few extra bottles incase shipment is delayed.
Ordering Professional Products
Professional products and items can be a bit harder to keep track of. For example ordering 1 13.5 oz pouch of YUKO hair Solution greatly depends on the amount of hair a client has or how many heads they will do in a week. Since it can get out of hand knowing how many solutions you are using or need, is best to use inventory software programs to help you stay on track.
Keep In Mind
Always check your budget. While having good inventory brings profit, remember that there is a cost involved, so eliminate unnecessary orders.
Unfortunately technology sometimes isn’t enough. It’s important to physically check on regular basis with the help of another stylist. Salons with high volume of sells should do this monthly as for smaller salons can do it every 3 months.
Ordering in small quantities on time frequently rather than ordering in bulks help eliminate any expiration on the products.
Track your package and make sure your order is correct upon arrival. Unfortunately some items can arrive damage due to harsher transportation, so always order in advance for any misfortunes.
As for other items in your salon that expiration is coming soon its best to clear them out by putting them up for a discount. Give your wallet something instead of nothing.