Management Practices

A Tighter Inventory

Web Editor | July 10, 2011 | 12:31 PM

Salon WOW

Evansville, Indiana

Owner: Robin Halter

Big Mistake: To free up some of her time, Robin Halter turned over the ordering of inventory to her front desk personnel with one warning, “Don’t let us run out of anything.” But when Halter worked with KRS Consulting on some cash flow analysis, she discovered her front desk had overstocked and overspent by $18,000.

Smart Solution: Halter soon discovered that a part of her problem was she carried too many lines. She whittled the selection to three core lines. While she initially was reluctant to let go of lines, the narrowed focus actually
resulted in a boost to retail sales.

Halter also discovered she had more leverage with a single distributor, which resulted in more education and benefits. Also, if she has a product that isn’t selling, her consultant will buy it back.

“The backbar and retail are the largest expenses next to payroll. But too many of us think inventory is a menial task, and we don’t pay the proper attention to it,” says Halter. “Now I have a strict budget and a formula that is so precise, if I’m not here, the sales consultant can place the order on her own. Once you have the tools, it makes life so much easier.”

More from Management Practices

Management Practices
Management Practices

Dos and Don’ts When Communicating with Upset Guests

July 31, 2018

They say the key to every great relationship is communication – and handling a guest complaint is no different. It’s not ideal to have to communicate with an upset guest, yet we’ve all been there and it’s likely we’ll be there again someday. Here are the dos and don’ts to keep in mind to help you successfully communicate with upset guests.

Management Practices @vanessapalstylist cutting a precision bob hairstyle. 
Management Practices

SALON TODAY RECOMMENDS: Strategies for In-Salon Education & Minimizing Stylist Turnover

Lauren Salapatek | May 4, 2018

What kind of continuing education do you have at your salon? Are you inspiring your employees to reach their full potential? This month Aveda Means Business covers topics from in-salon education to minimizing stylist turnover. Learn some ways on how to attract stylists who are passionate about the business and who will fit in with your salon’s culture.

Management Practices Sponsored by L'Oréal Professionnel

OWNER TO OWNER: The David Rios Salons’ Secrets to Providing 5-Star European Service for the Country’s Most Demanding Clients

May 2, 2018

Many of the country’s most brilliant, talented and powerful people live and work in the Georgetown neighborhood of Washington, D.C. They’re politicians, diplomats, attorneys. Also professors and students at the nation’s top universities. So, if you’re servicing these people in your salon, you had better be at the very top of your game.

Load More