Knowing the inner details of the business is a must!!
Undoubtedly, Salon businesses are challenging to operate and manage.
The beauty industry is one of those that include leadership, creativity, employee scheduling, marketing, payroll, purchasing, admin work and customer service, etc.
Balancing so many things can get messy, so organization is key. Here, salon reports can work as the best way to take the pulse of your business.
It offers valuable Salon management insights, details, on profits, spending and growth, etc. These also give considerable details that support in Salon marketing plans, future forecasts, decision-making improvement, budget planning, and so on.
How Salon reports are important?
The main aim of reports is to show the Salon success in terms of growth, irregularities, finding the latest trends, progress, etc. It helps the Salon owners to take the major decisions and form the trail of business operations, such as documentation of budgets, strategies, meeting and annual sales.
The best thing about reports is that it provides transparency. These assists with ownership information and financial data of the salon business. Additionally, it enables you to check the Salon performance and compare it with other Salons.
Finding which reports could be important for your Salon is a difficult task. Therefore, we have mentioned the reports that you must consider to make your Salon business running successfully and smoothly.
Salon Reports Your Salon Require
The reports provide value to every functional area of your salon or spa. You need an array of summary or detailed reports for Sales, Staff, Customers, Inventory, product sales, etc.
For checking all the numbers that make your Salon business successful, there are many ways to run the report. From the sales report, you can track memberships, gift cards, packages and examine the details of every product sale by date, item, client, employee, discount, quantity, price.
The Sales reports cover customer name, phone number, gender, email and the total amount they have paid at your Salon on an appropriate date range. You can also report only by retail sales or service sales.
Everything from the start and end of the day can be checked from the Total sheet that the sales report has. It breaks down all by payment types, sales, employee tickets, etc. The sales report that balances credit card and reviews amounts on the end of the day.
This also offers the ticket summary and the listing with the date range of the individual service providers and the closed tickets. It also shows the product sales, services, payment method and feedback by the customers.
Creating inventory reports is the smart way to reveal which products require to be refilled. This type of report allows you to keep track of the retail and professional inventory in and out of the business. Additionally, it tells you which products are selling the most and how much revenue they create. Usually, professional inventory receives all the attention, whereas retail products are ranked behind.
Though the retail industry is a huge opportunity to grow revenue without increasing management costs, it should be promoted. Being the Salon owner, comparing the staff and stock performance Salon reports shows you the number of retail products the Salon staff is selling.
From this information, you can boost staff retail performance from the targets and incentives. The crux is that the inventory reports are a great way to keep a close eye on the inventory and monitor its effectiveness. It can help you make the best decisions on what to order, promote, and sell.
Salon owners can generate a large number of employee reports, but observing detailed staff performance reports may be the most significant one. It provides a comprehensive analysis of understanding which staff is performing well and which staff member is an underperformer.
If you find that staff are performing strongly in these reports, then do appreciate them. On the other hand, if the performance is poor, it may be time to organize a meeting to know how to improve salon performance.
These types of reports will make you understand the amount you are spending on your staff. Or, how much they are generating or contributing to your business. Additionally, from here, you can check how much commission could be structured and know what drives each of your Salon staff.
Knowing the booking patterns of customers, you can gain insight into the extent of your participation in the salon or spa customer database. The client reports are most useful for preparing marketing strategies that make your Salon customer base appeal.
It has the top client report that tells you which clients are profitable to the Salon. Also, this highlights the most frequent clients and the highest spenders. As per this information, you can appreciate your valuable clients for their loyalty. Maybe, by generating the loyalty program or by including more treatments to the visit. By letting them marvel at the salon experience, you will assure that they are visiting you again.
It is more economical to retain new customers than to get new ones. Additionally, converting the first time visitor to frequent and loyal customer assist in building word-of-mouth referrals.
From the client retention report, you can find which staff members are struggling to retain the clients and which are not. Then, you can know why clients are moving to other Salons and hence, take action accordingly.
If you are checking many of your staff members have less retention rate, then, possibly, something is missing. As the Salon owner, you should know if you are fulfilling the promises you made to your customers? And, if you are not sure about clients not returning back, then, ask your customers to provide satisfactory feedback.
From the client retention rate report, you can check out which clients you have not seen for a while. Here, all you need to do is to send the personalized text message, email to make their revisit in the Salon.
Retailing is a valuable asset in operating a spa or salon. From less limitation and higher price markups, the Salon or retail products can include a huge revenue to the Salon.
Same as client retention, you must find out which staff members are working poor in this regard and then, train them to improve. This is an alert to make them create a habit of promoting the conversation or products to change their approach of retailing. With the focus on the client’s best interests, the sales should be awkward or aggressive. Even, adequate consultation can boost the client trust, satisfaction and retention rate.
From the product sales report, the inventory levels can also be optimized. It can also be done by finding the best selling products and which are not at all selling. From this information, you can grow your order of leading products and possibly receive a volume discount. Additionally, know from your suppliers if they can replace or take back the unsold Salon products. If the supplier is not agreeing on the same, then, you can bundle them with other products and sell them in offers or discounts.
You must be comparing the figures from months and finding the irregularities and trends. This can further be examined by your Salon invoices and no-shows.
An oddly large number of voided or edited invoices or cash payments must be considered as a warning and must be examined further. Although it may only be that staff member who needs to receive more training. Unfortunately, there are some cases where staff take advantage of the business.
The Salonist Software permits you to restrict these operations to some staff members and record these activities to review later. As time passes, the missed appointments also result in more revenue loss. Though, it is not possible to eliminate no-shows completely. You can leverage the notification system for confirmations via email, SMS or message.
When it is about reports of your Salon business, you need the convenience of examining and managing the financial history and entire business on the cloud.
Obtain informed decisions by making strategic changes earlier and succeed!
Do you have more tips on using the salon reports effectively? Do let us know. Also, if there are some queries then, comment below.
Thank you for reading!!
Zin Lang Liu is associated with Salonist- salon software for all beauty & wellness industries. She helps business operators to boost their salon business through fully featured salon management software.