Looking for insight into how your business is performing? Then reports really should be your new best friend.
What are reports, and why are they so important?
In simple terms, reports provide essential insights into your business spending, profits, and growth. Data from your reports can also be used to help you forecast, develop marketing plans, guide budget planning, and improve your business decision-making.
Do I need reports?
All businesses, even salons and spas, should review reports regularly to ensure the company is profitable. Reports can tell you if your business is running in the black – or not – and help you identify areas to improve.
What if I’m not a numbers person, and the thought of running reports leaves me numb?
You’re not alone. Many small business owners, especially those in a creative, service-oriented field, find the idea of reports and number-watching scary and intimidating. It’s almost as if altogether avoiding them means a business cannot fail. However, the reality is quite the contrary.
Reporting is a powerful tool that can help you steer your business to success. Once you come to terms with that, you’ll realize the opportunities in front of you and can explore what the tools in your salon software arsenal can do for you.
Where do I get started?
Ultimately, you want easy access to your information at any time and to have multiple reporting options. Most salon software reports are broken down into sales, inventory, performance, financial, and general reports. Some reports can also list data in a way that’s either summarized or detailed. It’s up to you if you just want a high-level overview or want to get into the weeds with every aspect.
If nothing else, use reports to track your service and retail sales and monitor employee performance. That way, you can set goals and identify any areas that need improvement.
To gain insight into your data in digestible doses, run any one of several types of reports and dive in to analyze the numbers and look for trends. Here are a few more commonly used reports:
Total Sheet – Displays a detailed financial record of your entire business with both services and retail sales, plus deposits, gift card sales and redemptions, packages, fees, tips, etc., all for the period of time you choose, for the entire salon.
Sales Growth Analysis – This report will allow you to evaluate the pace your business revenue is growing over multiple periods of time, such as year over year.
Inventory Level Report – Use to measure the value of the inventory on your salon shelves at a given time.
Ticket Summary – A listing of closed tickets by date range and individual service providers. Shows services, product sales, and tips by customer and totals, including payment method.
Sales Analysis – A report by employee for a given period; this report is a great way to identify employee sales performance to reward top sellers and improve those underperforming.
Commission & Time Clock Reports – This report does the calculations for you, so you know what to enter into your payroll.
You may also find some of these other popular reports helpful.
Rosy recently released new reports you may want to consider:
Weekly Tracker Report
The weekly tracker reports your daily indicators, including visits per day, average ticket amount, rebook percentage, retail per guest, plus service and retail sales, in that timeframe.
Monthly Tracker Report – only available for download
The monthly tracker reports your daily indicators plus service and retail averages, average ticket, total tickets, units per guest, and more, in that timeframe.
Note: these new reports work in conjunction with the time clock and employee goal-setting features.
When it comes to reports for your business, you’ll want the convenience of analyzing and managing your entire business and financial history in the cloud. Let Rosy Salon Software help track your success with over 100 options for salon reports.
For more information about reports, please visit our Support Center, contact our team for quick questions, or schedule free training with our team.