Are you spending too much time counting your stock, or have you ever ordered products that didn't sell? I'm here to help you optimize your inventory management and eliminate any uncertainty.
What it is?
Inventory management for beauty salons involves keeping track of the number of beauty products you have in stock to reduce costs and know when to order more.
This is essential in meeting the demand for beauty treatments and products, controlling expenses, and increasing profits.
Why do we need to improve it?
Poor inventory management can lead to overstocking, wastage, and wasted money, all of which can result in lost revenue.
5 best practices to optimize your beauty salon inventory management:
- Create a budget for retail and back bar beauty products and stick to it. Allocate a percentage of your service income for each category and avoid impulsive purchases. Keep it strong - check regularly
- Audit your inventory regularly to keep track of expiry dates, damaged products, and wastage, make a note on a supplier if ones provided bad products.
- Avoid spoilage and shrinkage by monitoring inventory expiry dates. Keeping track of this helps you to ensure you use the products before they expire. Otherwise, the loss of inventory means a loss of profit.
- Don't overstock. Extra inventory can tie up your cash flow, waste space, and prevent you from investing in growing your salon.
- Use a beauty salon inventory management software to centralize all your inventory data, avoid guesswork, and save time.
Salon inventory or backbar management software
- SalonScale
- Backbar
- Uncorkd
- Zoho Inventory
- Stockify - the custom solution you can customise based on your need
Keep it serious to get it done
By following these practices, you can optimize your inventory management, improve cash flow, increase profits, and grow your beauty salon business.
