MENU
SEARCHInventory is fun! Said, no one ever. While it is one of the biggest pain points for a salon or spa owner, it is a necessary evil that can have detrimental effects on your business if managed improperly. Here are some tips and tricks to best manage your salon or spa inventory.
Inventory is fun! Said, no one ever. While it is one of the biggest pain points for a salon or spa owner, it is a necessary evil that can have detrimental effects on your business if managed improperly. Here are some tips and tricks to best manage your salon or spa inventory.
Professional Supply Budgeting and Monitoring
When setting a budget for your professional supply inventory, consider your service sales. Aim to have a budget around 5% of your service sales, which will help prevent over-spending.
Understanding how much product is utilized in each service will allow you to better gauge where your prices should be for certain services, employees, and/or clients (think: thick long-haired clients who use 3x more product). Monitoring your sales versus product usage is essential in inventory management. You can do this by deducting professional products in the employee supply usage screen in Millennium.
Performing Blind Counts
Having trouble holding your staff accountable during inventory counts? Blind counts will do the trick. Have your employees manually count your inventory without providing them on-hand quantities. Consider adding in dual control to ensure you have the most accurate stock level numbers. Send two employees to count on-hand products independently and have them compare numbers. Any discrepancy between the results means someone miscounted!
Managing Inventory in Millennium
Your salon or spa’s business management system should be able to organize, maintain, and analyze your inventory. Wouldn’t it be great if your business management system automated your ordering process by recommending which products to order based on best sellers or low inventory indicators?
Millennium is one of the few software platforms on the market that has smart inventory wizards. Additionally, the smart Inventory Wizard creates purchase orders and sends then out to suppliers by email with a click of a button. No more calling your suppliers to make an order!
Need even more help? Download our guide for best inventory management practices.
There are many ways you can ensure that your stock levels are properly managed and accurate. Sign up for our FREE live webinar on Millennium Inventory for even more ways to manage, monitor and master your retail and professional product supplies to generate revenue and relieve your biggest pain points. Register here and watch live on Monday, June 26, 2017 @ 1pm ET.
LifeSpa leader Ali Yanez explains why strong mentorship, predictable income, meaningful recognition and the right work environment help beauty professionals build careers that last.
Whether a beauty professional chooses a commission salon, booth rental, salon suite or salon ownership, the common thread is having more choices than ever before.
Sport Clips Haircuts will host its inaugural "Level Up Live," a first-of-its-kind virtual event that combines live haircutting education, career inspiration, product knowledge, and employment opportunities for licensed stylists and cosmetology students nationwide.
Orthopedic PT reveals three daily exercises plus ergonomic advice that can help salon professionals avoid the aches and injuries caused by standing, bending and repetitive overhead work.
Four publications for beauty industry professionals to enhance their leadership skills, financial awareness, professional growth, and joy!
Salon suite pioneer Karen Kaminski argues that the next evolution of independent beauty businesses won't be defined by beautiful spaces alone, it will be driven by smarter systems that help professionals spend less time on administrative work and more time serving clients.
At a time when many LGBTQ+ people felt compelled to hide parts of themselves, Carlos Valenzuela found a career in beauty and a community that offered opportunity based on what you could do and how well you could do it.
Whether it's social media, fashion, film, art, or culture, Chaz Dean advises stylists to stay aware of what's inspiring people. Take the elements that make sense for you in these five lessons learned through a life in beauty.
For Jessica Domoney, building a successful career isn't about saying yes to every opportunity, it's about protecting your time, investing in yourself and creating an experience clients won't forget.
MODERN SALON sat down with Samuels to discuss the book, beauty education, mentorship and the habits that help beauty professionals thrive.
"The mistake people make is treating AI like a vending machine instead of a personal assistant." Digital marketing expert Scott Moon shares how beauty professionals can use AI while staying authentic
Real-world advice on creativity, consultations, color, burnout, business, boundaries, inclusivity, client care, and career growth from educators and industry experts.
Real-world advice on creativity, consultations, color, burnout, business, boundaries, inclusivity, client care, and career growth from educators and industry experts.
Today's clients are hearing more about longevity, biohacking, inflammation, and healthy aging than ever before. This article explores the science and language behind the skin longevity movement, and what it could mean for client consultations, treatment recommendations, and professional credibility.
Licensed to Thrive, Anna Manukyan's all-in-one beauty career and financial masterclass, is being gifted to professionals who enroll in L'Oreal LEVEL Rewards for a limited time.
From breaking free of external validation to creating joy-based goals, discover a more sustainable and fulfilling path to success.
A full day of education for hairstylists and salon pros focused on pricing, personal branding, client experience, social media, and long-term career growth.
