Courtesy of The Raithwaite Estate Spa, N Yorks
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UK Spa Association

News and views from the UK Spa Association

Stock control plays an important part to your profit margins

An effective stock control system will ensure your treatment and retail margins are accurate and will give the profit you are aiming for.

If your margins are falling short, check that all the information you are using is accurate.

Below are the most common areas to check if you are not achieving your profit margins.

Stock prices

  • Stock prices are up to date
  • Prices are in line with the supplier purchase price
  • Should they include any discount?
  • Prices are correct for the size of product
  • Prices are correct for salon, tester and retail products

All stock items are listed

  • All products have been counted
  • New products have been counted and are listed with the correct size & price

Check count and recording

  • The stock count is accurate
  • The count has been recorded correctly

Confirm the accounting period

  • Confirm the accounting period
  • The opening and closing stock values are for the same period as the sales
  • Purchases have been made in the same period as the sales

Stock purchases

  • All items purchased have been delivered and accurately checked
  • Make adjustments for items not received
  • Purchases have been correctly recorded as a treatment or retail purchase

Stock invoices

  • All stock invoices for the period are included
  • All credit notes for the period are included
  • Check if there are any items in transit
  • Check if there are any items to be returned

Stock loses or wastage

  • Record stock loses or wastage

Discounts given

  • Calculate the value of discount given for treatment sales
  • Calculate the value of discount given for retail sales

Portion control

  • Confirm the correct portions for each treatment with the treatment supplier
  • Check the team are using the correct amount of product for each treatment
  • Check that all stock is secure & not at risk of theft

Sale prices

  • Check net treatment prices are reflective of the cost of the treatment
  • Check net retail prices are correct and in line with the RRP

Emma Williams

Business Solutions Clinic * Emma Williams Consulting

www.emmawilliams-consulting.co.uk

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Tuesday, 26 September 2017

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