Ep. 99: From Chaos to Cash Flow: Why Stock Management Matters for Your Beauty Business

Salon Goals July 2024 - Click to Learn More.

In this week's episode Lauren discusses a super important topic for both the smooth running of your Business and the financial viability of your Business, Stock Control.

• "You really don't want to run out of stock, as your Clients will see it as a lack of professionalism" .
• "When you do your ordering only when supplies are low, you're setting yourself up for embarrassing situations and even Client cancellations".
• "If you're not keeping track of your stock on a regular basis, you will most likely end up spending too much money".

How Lauren Handles Stock Control (Retail and Professional) in Her Salon.

• Lauren uses a PRO POS & Stock Control System - Timely - Beauty Salon Software (13:00)
• Lauren and her key staff do a weekly physical stock count and that is matched against the Timely Stock and Sales Reports. (15:15)
• Stock ordering occurs once per week and a weekly stock budget is assigned. (16:50)
• Delegation is key to long-term effective Stock Control and Ordering. (18:30)
• Set up an alternate payment method for ordering (like a PayPal) if you're not comfortable allocating a dedicated card to staff. (20:00)

What Products to Stock in Your Retail Business: https://player.captivate.fm/episode/4a9703a3-fcc2-488b-8e02-02f0f5d9749c

Rate and Review the Show in Apple: https://podcasts.apple.com/au/podcast/the-lash-business-lounge/id1609510128

Rate the Show in Spotify: https://open.spotify.com/show/0xvJ8MNZM9cbjYBGcMDtb8?si=b23764e4d0ed4b59

Lauren on Instagram: https://www.instagram.com/laurenlappin_

Allure's Instagram: https://www.instagram.com/allure_lashbeautybar

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This Episode was Recorded and Produced by Josh Liston at DeadsetPodcasting.com

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This episodes theme music (Title: 'Highlander'') is from the amazing 'Scandianvianz'.

Check them out on YouTube here and Subscribe to their Playlists: https://www.youtube.com/watch?v=NIGxBs8IPHM&list=PLzCxunOM5WFLOaTRCzeGrODz8TWaLrbhv&index=24