Podcast
Questions and Answers
Why is it important to maintain your back bar or color and retail inventory?
Why is it important to maintain your back bar or color and retail inventory?
How often does the text suggest ordering retail supplies?
How often does the text suggest ordering retail supplies?
What percentage of retail sales does the text recommend using to restock shelves?
What percentage of retail sales does the text recommend using to restock shelves?
What is the purpose of creating an opening order with your distributor?
What is the purpose of creating an opening order with your distributor?
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What is the first action step mentioned in the text?
What is the first action step mentioned in the text?
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Why is it important to manage retail inventory and back bar inventory?
Why is it important to manage retail inventory and back bar inventory?
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How often should you reorder your products if your monthly sales are under $8,000?
How often should you reorder your products if your monthly sales are under $8,000?
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What is the recommended percentage of total income to be used for purchasing color and supplies for services?
What is the recommended percentage of total income to be used for purchasing color and supplies for services?
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What factors should be considered when choosing brands for the salon suite?
What factors should be considered when choosing brands for the salon suite?
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What is the purpose of the reorder worksheet in the toolkit?
What is the purpose of the reorder worksheet in the toolkit?
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True or false: Stylists should only order color for their clients based on what they see in their book that week.
True or false: Stylists should only order color for their clients based on what they see in their book that week.
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True or false: It is important to have the proper supplies ready for all creative conversations with guests.
True or false: It is important to have the proper supplies ready for all creative conversations with guests.
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True or false: The text recommends ordering retail supplies weekly or bi-weekly to avoid cash flow issues.
True or false: The text recommends ordering retail supplies weekly or bi-weekly to avoid cash flow issues.
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True or false: It is important to find a distributor who will help with reordering and introduce you to promotions and specials?
True or false: It is important to find a distributor who will help with reordering and introduce you to promotions and specials?
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True or false: Managing retail inventory and back bar inventory can lead to long-term success?
True or false: Managing retail inventory and back bar inventory can lead to long-term success?
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True or false: Ordering retail on the back bar weekly or bi-weekly can help avoid cash flow difficulties?
True or false: Ordering retail on the back bar weekly or bi-weekly can help avoid cash flow difficulties?
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True or false: Increasing the number of products on your shelves is necessary to sustain growth.
True or false: Increasing the number of products on your shelves is necessary to sustain growth.
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True or false: The recommended percentage of total income to be used for purchasing color and supplies is 7%.
True or false: The recommended percentage of total income to be used for purchasing color and supplies is 7%.
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True or false: Reordering retail supplies is typically done to restock what has already been sold.
True or false: Reordering retail supplies is typically done to restock what has already been sold.
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True or false: The frequency of product reordering should be based on monthly sales, with a weekly order recommended for sales over $8,000.
True or false: The frequency of product reordering should be based on monthly sales, with a weekly order recommended for sales over $8,000.
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Study Notes
Managing Inventory for Salon Suites
- Maintaining back bar and retail inventory is important to ensure you have the proper supplies for creative conversations with clients.
- Reorder process for retail is to go 52% of retail sales for the period you order, either weekly or bi-weekly.
- The extra 2% in retail inventory is to support the growth of your sweet business and increase the variety of products available to clients.
- For back bar or color order, allocate 7% of total income from service sales, retail sales, and tips for the purchase of color and supplies.
- The 7% allocation allows for stocking a variety of colors to meet client demands and deliver on creative conversations.
- Consider seasonality when reordering color inventory, as preferences may change based on the time of year.
- Order products weekly or bi-weekly to avoid cash flow difficulties and strain on finances.
- Monthly sales under $8,000 should consider ordering every two weeks, while monthly sales over $8,000 should consider a weekly order.
- Choose brands for your salon suite based on your average ticket price, with luxury brands for average tickets over $100, premium brands for average tickets between $70 and $90, and market-specific lines for average tickets below $70.
- Start with the top ten products you like to use on clients when bringing in a professional line, and work with a rep to create a budget-friendly opening order.
- Find a distributor who can be a partner in your business, helping with reordering and providing resources to grow sales.
- Take action by making a list of top ten favorite products, meeting with a rep to create an opening order, and ordering retail and back bar inventory based on sales frequency.
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Description
Quiz: Test Your Knowledge on Maintaining Back Bar and Inventory in the Hair Salon Industry
