Wondering what salon reports you should be tracking within your business? When it comes to salon reporting, it can be difficult to know which data is the most valuable when it comes to improving the success of your business.
To help you nail your salon reporting, we sat down with Steve Hilliard who will uncover the best reports to track using Shortcuts Software.
Steve Hilliard is a hairdresser, salon owner and salon business coach who has been using Shortcuts in his salons for 16 years. Steve has coached hundreds of salons over the years who use different salon software systems and knows that the salon reports can be very complex.
Steve has found his ultimate success with Shortcut’s reporting, and will show you how you can do so, too:
Why is it important to utilize salon reports?
As you manage your salon business, what salon reports are you looking at daily, weekly, monthly, quarterly and yearly?
Once you answer that question we can move on, but if you are not looking at any data and therefore utilizing salon reporting, your business will stagnate or even go backwards.
We all know how massively our industry has changed but “You Have To Do Something Different In Your Salon Today”, or you will just sit still. I know it is easy to bury your head in the sand, but I want to show you how to succeed and grow your profits.
4 key salon reports you need to be successful are:
Performance Summary Extended
My favourite salon report of them all; it gives me an in-depth view of each of my stylists and my salon.
Performance Summary Extended will allow you to delve into the following on a weekly basis:
- Client numbers
- Productivity % growth
- Rebooking’s % growth
- How many home care
- How many hair treatments (5 minutes in the salon from £10)
- Average ticket
- Total turnover ex vat
- Colour % growth
Understanding what I call the “Salon Metrics” which is one of my specialized areas. This gives you a complete overview of your stylist’s performance and where your salon is right now.
So, what are you tracking and what is your target? These are the questions so many salons ask me but once you understand them it’s straightforward.
Value of Future Appointments:
This next salon report is probably the biggest report being under-used with Shortcuts customers.
Do you know off the top of your head how much is coming in per stylist and your salon for the week? Probably not, if you do that is great!
Why do I need to know?
Well, it’s simple; if this metric suddenly drops away at the end of the day, you know your clients have been discounted or canceled. You can then go to the menu on your appointment page, confirm the status and click on the deleted clients and see if they have rebooked. If not, write them down and chase them up.
Or, if it peaks you know your team has upsold or clients have re-booked.
It’s great to track each day, week, the following week, and the week after that so you know what is happening in your business so far in advance.
The trading summary is a fantastic tool to see what percentage of new clients are coming through the door. In a nutshell, it’s a great, quick report on your stylist’s performance and the week’s takings.
Do you know what percentage of new clients you need to stand still? It’s at least 10% per week!
It also shows you a split on male/female. It gives you an overview of how much services and retail ex vat each member has done daily or whatever time you need to look over.
It shows the breakdown of gift certificates as well, revealing their average ticket, and who brought the most revenue by percentage.
This is an expensive area for salons, especially in regards to losing profit as they don’t understand what to spend.
The Inventory Reports is a great Shortcuts feature which allows you to calculate your spending, so you don’t have the shock of the cost of the stock!
You also need to know how much professional stock you are using per week or month, so running your own invoice within Shortcuts stops you from asking, in a panicked tone, “how much did I spend on stock?”
This seems to be the normal reaction from salon owners as they don’t know what indicators to use on professional stock, which is a massive decrease in your profits!
This salon report calculates how much you spend, and you add to my bespoke report to show you how much “You Can Spend”, ensuring you know exactly how much to spend.
Key Takeaways From Salon Reporting
These salon reports are just a drop in the ocean of what you need to be assessing, but it gives you complete KPIs (key performance indicators) for your stylists and salon.
I have personally used these in my salons for years and have seen my team being promoted on growth throughout the year and earning large salaries and bonuses from growth.
I think understanding your numbers is so important in this much tougher climate!
Make sure your funnel is not losing clients. Then, once you have your funnel nailed, start to market your salon and start seeing the incredible impact of salon reporting.
Book a Free Discovery Call with Steve To Learn More About Salon Reports
Do you want to uncover the impact of salon reporting, and start making a difference in your salon? I invite you to start making a difference and to “Do Something Different In Your Salon Today” by learning firsthand how you can utilize these salon reports within your salon business.
Book a Discovery Call with me to delve into how you can implement the above salon reports and more! The best part is, that this call is completely free for all Shortcuts customers (usually £197 or around $240).
If you take yourself back to school and remember when you needed to ask a teacher something, it was often hard to put your hand up. But once you did it and you knew the answer you felt so much better! Nobody came into this industry to deal with numbers, but all industries need to know their numbers and ours is no different!