Re-Think your Hair Color Inventory Needs
I went to the local Bagel Shop one morning to grab some snacks for the salon and it just so happened on this particular morning one of my favorite stylists that was leasing a room from me was there picking up her favorite bagels. Well, she decided to pay for my order as well as hers, so this was quite a treat. Well, that feeling of Euphoria I was having disappeared just as quickly as it came! Her Debit Card was declined and I wound up paying for both orders and I began to razz her about it almost instantly about it. As we walked outside in the direction of the Salon, I was thinking but never asking and that would be rude, what happened with your Debit Card being declined? Because I know she had a very good week behind the chair so not having money should not be an issue. Had her bank account been hacked or some other mix up? We had only taken a few steps when she spoke up and put my mind at ease that the day before she had purchased a huge amount of hair color products and when she paid it emptied her bank account but as she told me “I’ll be good on color for 3 months”. I just shook my head and we walked on to the salon to start our day.
This is the prefect example of Re-Think your Inventory Needs. For most all my career I’ve known stylists who work alone in a leased room or station and insist on having a wall of inventory so they can address any issue a client might have with their hair color needs. Back in the day when a stylist had to purchase their products from a sales person from the supply store who only came by every 2 weeks or even monthly, all the inventory needed was understandable. NOT IN TODAYS REAL WORLD SALONS. Supply stores are open every day 9-9, I’m going to bullet point my thoughts on why you keep your coffee money in your pocket, not an inventory wall disguised as HAIR COLOR!
#1. Never purchase products for “If a client color problem arises”
#2. When leasing your room or station you have appointments and typically don’t let new clients just walk in.
#3. New client consultations are needed and expected before their appointment with you. So, there are no surprises at application appointment. Notice I said “appointment”. Now you have ample time to purchase any kind of product needed before hand.
#4. Risk of spoilage or expiration date catches you and product is wasted. This costs money.
#5. Free storage for the Supply Store. Let them hold for free until you need the product. You are Stylist not a warehouse.
#6. Money needed for incidental expense’s is tied up in unused inventory. Always keep money liquid.
#7. You, better than anyone know your client base, your service product needs and it will basically never change. Keep 2 weeks of what you use and don’t hold your breath until that Fictious Client who has “A” hair color Crisis walks in your salon door.
#8. Always and I mean always remember this, You Can’t Buy a Cup Coffee with a Tube of Hair Color.
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