Blog

Salon Inventory Management: 7 things to avoid making a critical error

Tues, 24 Dec.

If you are working in a salon or running it yourself, then you need to know a few important points about salon inventory management. ‘Why salon business management is critical for a salon?’, is an essential question that we need ask ourselves. Salon inventory management is a process of managing essential and correct inventory levels of stocks of your salon. These stocks are usually the products that are used in any salon business and closely correlates with customer experience of a salon.

Imagine if one of your hairdressers was applying hair color to one of your customers and that very same hair color runs out. You also find that your salon doesn’t have a backup. It would be an experience that no customer should go through. This is why salon inventory management is important, which can help with replenishment of the stock at your salon correctly. There are seven points that you should know about salon inventory management.

1. The Benefits

Salon inventory management pertains to huge advantages for your beauty salon business. When done right, your business's cash flow is vastly improved. It simultaneously helps improves profits and customer experience. The customer becomes a returning customer if he or she is happy with the experience. It streamlines the ordering process and reduces shrinkage of stock. Also in the end, it saves your and your client’s precious time.

2. A salon business is not a guessing game

The process accrues consistent checking of salon inventory lists and the correct timing of orders. This type of process is also called Just in time Inventory, which is a popular way of stocking inventory in many multinational businesses.

3. Set stock goals before initiating salon inventory management

It is essential that you have to set some major stock goals in order to simplify what you want to do for example stock loss/shrinkage targets or maybe the lowest level of cost accrued.

4. Know what to include in the inventory management of salons

One should know that every bit of a stock that is directly related to the customer experience should be included in the stock inventory management.

5. Knowledgeable about the inventory data to record

The kind of data that should be recorded depends on the size of the business. One should always record correct information about the distributor and the product itself. The information can be a reference number, product name, brand name, distributor name, current stock levels, and the different prices.

6. Know the estimated inventory usage in the salon

The owner should require their employees to report the actual usage of inventory in the salon on a day to day basis. This is important to quickly adapt to the ever-changing landscape of salon management.

7. Know about different methods to track salon inventory

There are many ways one can keep track of salon inventory. These methods include but are not limited to, inventory spreadsheets, inventory software like MyCuts, and the paper inventory list (not recommended because it is not automated).

David Sanderson
MyCuts Founder

Ten Innovative Salon Marketing Tips to Increase Your Client Base

Tues, 28 Nov.

Your Salon Deserves the ATTENTION!
The world of salon marketing has recently seen a bundle of innovative ideas that have helped salons to reach out and maintain their customer base. The following article discusses some of the tips that you can use to potentially increase your customer base:

1. Selfie Station

What’s so great about selfies? Well, no one will ever know! However, one thing is for sure that people love to take a few selfies when they get a new haircut. A selfie station is the perfect item to be placed on your premises to attract a crowd!

2. Daily Promos

We’re sure that you have a Facebook page, as its the best way to reach out to your customers. Use social media to introduce new offers and promotions on a daily basis.

3. Email Campaigns

If you have maintained a record of all your existing customers then you must also have their date of birth. Automated email campaigns can be used to wish your customers a happy birthday, and maybe even provide a discount. You never know, this act might make them a loyal customer.

4. Rewards

When a customer brings in another customer on the basis of a referral then it can be a great thing for your business. This is exactly what your business should try to achieve, i.e. rewards on the basis of referrals.

5. Mobile App

Your salon definitely deserves a mobile application. A mobile app should have an option for booking an appointment which reduces a great amount of hassle and the feature itself can be used as a selling point. Your customers will love the automated text reminders!

6. Social Media

When we talk about social media, one shouldn’t forget that using it once a month will not work. You need to take professional photos that capture the vibe of your salon in its essence. And then you can upload it across all your social media profiles at least every other day.

7. Value Added Products

To be honest, it can be hard to please an existing customer. However, the best way to maintain your client base is to offer them value added services for free. This can be a great marketing tactic, which obviously can entice your new customers too.

8. Holiday Season

As the holiday season is pretty close, don’t waste this opportunity and use the theme to focus on offering the absolute best and great deals.

9. 24/7

Believe it or not, there are plenty of salons that are open 24/7 (or very late) to cater to night owls. Hence, this is a great strategy to distinguish your salon from others and possibly grabbing up some extra revenue.

10. Traditional Marketing

Never ignore the fact that traditional marketing still works especially when we talk about salons. Try investing in banners, flyers and maybe even a commercial on your local TV channel.

These tips when implemented can really change the way your salon appeals to new and existing customers.

David Sanderson
MyCuts Founder