One of the biggest areas of salon profit loss just might surprise you. Take a moment to look at your color bar. How many shades have sat unused? For how long? How many times have you reached for a client’s requested shade only to find you needed to run out and restock at the last minute?
While color services are the biggest money maker in the salon, color stock can be a huge money pit if not managed properly.
Eloy Villareal—Market Development manager for milk_shake North America—has three indispensable tips for keeping your color properly stocked to keep your salon in the black.
Color restocking for new colorists
An easy way for colorists who are just starting out to minimize color waste is to keep a close eye on their books. New colorists should concentrate on colors that are primarily used on their clientele. This will take some homework going through their client profiles and making a list of colors they use repeatedly. All of that work will be worth it when you’re able to balance your budget at the end of the month.
However, because some clients like to change up their look for a particular season, it’s important to stay on top of the trends. Milk_shake PRO’s Beauty Insights are released throughout the year to give you a leg up on the trending looks for upcoming seasons. Plus, each trend release comes with a complete curriculum of cut and color courses to give you all of the tools that you need to stay cutting edge.
Color Restocking for Salon Owners
When it comes to margins, salon owners can minimize waste by more precise formulations, and weighing color formulas. While it may seem like a quarter of an ounce here or a half an ounce there—imprecise color formulations can add up to big money fairly quickly. The last thing a salon owner wants to see is potential profit going down the drain.
One other advantage to salon owners with working capital is that you can take advantage of special pricing. Keep an eye on your most used shades and stock up when promotions are available. milk_shake PRO features bi-monthly promotions on specific colour lines, that feature substantial savings. Plus, if you are a milk_shake pro salon rewards member you can use your rewards points to stock up on backbar shampoos, sampling sachets, developers and even retail products. That’s like earning free money.
Color restocking for independent stylists
Independent stylists don’t have to do it all on their own. Having a good relationship with your sales rep can save you LOTS of money in the long run, especially when it comes to color. Your sales rep can help you develop a seamless inventory system and keep you on top of when you may be running low on specific shades. Think of it like having a personal ordering assistant.
Ready to meet your milk_shake sales rep? Start here>>>