Turnaround

BUSINESS AUDIT

The Business Audit service includes:

• Mystery shopping + Detailed Mystery Shopping Report
• Business Audit:

A complete business analysis will be conducted:

• • • Analysis of Business Financials
    • Analysis of Reporting Systems/ Formats
    • Analyze Daily and Individual Staff Sales Reports
    • Assessment of Operations Policies & Procedures
    • Assessment of HR Systems/ Policies/ Procedures
    • Assessment of Inventory Systems/ Policies/ Procedures
    • Assessment on how customer-centric the business is

The audit is not restricted to the above, it will cover full business set-up/operations etc.

Deliverables: 

• P&L Analysis
• Sales Data Analysis
• Overall Salon Performance
• Client Profile (Client Retention, Client Behaviour, etc.)
• Category Sales
• Sales Channels
• Discounts
• Individual Staff Performance for all service provider
• Inventory Management Analysis
• Marketing Review
• Highlight critical areas
• Determine highest areas of opportunity
• Develop clear strategies
• Develop a detailed action plan

PROCUREMENT & INVENTORY PROCESS IMPLEMENTATION & TRAINING

1. Extraction of current report, such as Sales performance and Stock on hand reports, to perform re-evaluation and identification of products that need immediate inventory database record update/rectification of relevant details such as retail prices, margin, as well as identifying the proper description, barcodes, etc.
2. Guide the team on how to properly furnish or collect relevant information necessary to perform the database update/rectification process. This includes preparing a list of retail and professional products that are not yet added to the inventory database.
3. Prepare a list of retail products (from extracted report) with correct details, such as retail prices and margin, that will serve as a reference in the immediate update or rectification of the Retail database.
4. Provide training on how to edit, update, and/ or modify/ rectify the product list.
5. Provide training on how to create and add products to the product database.
6. Provide training on how to create and add a new supplier to the supplier database.
7. Provide training on how to create a new stock order or purchase order.
8. Provide training on how to receive a stock order or purchase order and generate a goods receive note (GRN).
9. Provide training on how to manage and process purchase invoices and the importance of record keeping.
10. Provide guidelines and training on how to properly record and process internal consumptions – the products used for services.
11. Provide guidelines and training on how to perform stock takes or stock audits – identifying any discrepancies in your inventory and adjusting to reconcile the physical and system records.
12. Provide guidelines and training on how to determine cost of every service and evaluate the serving costing to identify service profitability.

Post implementation evaluation:

(1 month after all the required database sanitation, configuration and stock take are done)

• Evaluation of Sales performance report – to check the pricing, margin, etc.
• Evaluate the Stock order / purchase entries.
• Evaluate the Internal consumption report against the service revenue to find out the % cost of service and verify if the process implemented is diligently followed.