Most salon owners have a handle on the common financial and accounting reports.  Income statements for understanding your profit or loss for a period of time, balance sheet for understanding the overall assets and liabilities of the business, and basic sales and expense reports that let you understand trends or costs.

Understanding and leveraging those reports are key to running a successful business.  If you’re uncertain of their uses, the time spent learning how to read the reports is time well spent!

However, this article is a round-up of a few of the many reports that TanTrack customers love the most and an explanation of how the information improves their salon performance and profitability.

1. Per Customer Sales Average – is it increasing or decreasing? Knowing this helps you understand if your sales and marketing activities are helping you increase “share of wallet” from your customers. Diving into specific customer purchase habits can lead to new strategies for products, packages or promotions.
   
   
2. Side-by-side Store Comparisons – for salon owners with multiple stores, easily compare the performance of one store to another. Answering why, for example, one store might sell more of a particular product, or have higher expenses – lets you uncover the reasons and apply that knowledge to improve your other locations.
   
   
3. Period-to-Period Consumption – easily identify customers who are purchasing less than they typically have in prior periods of time. This lets you devise promotions, offers, or other strategies for winning them back or building more loyalty.
   
   
4. Not Visited – generate a list of customers that haven’t visited within a certain period of time. This allows you to easily send email reminders or promotions to spark them to revisit.
   
   
5. Fixed Expense Per Session – knowing how much of the price of each tanning session goes to your fixed expenses (rent, utilities, insurance, etc.) immediately lets you uncover the precise gross profitability of a session and make any adjustments.

If you take anything from this article, it should be that leveraging reports to understand trends in your business is the fastest way to drive success. TanTrack features more than 300 customizable reports that provide salon owners the data they need to run their salons, better, faster and cheaper! 

If you’re a current customer and have questions, our support department is happy to help you.

If you’re just considering opening a salon or using a competitor that doesn’t provide the in-depth reporting you need, book a free demo. 

TanTrack has seamless data migration to virtually all major competitors on the market, making a change easy.