8 Best Inventory System for Small Beauty Businesses

Summary

Running a beauty or wellness business requires the right tools – and that includes inventory management software. Manual tracking, stockouts, and overstocks can slow up your day and make it harder to accurately calculate what you need (and how much of it). Luckily, there’s a tech solution that can simplify your operations. This article will explore how inventory software can benefit your business, along with the best small business inventory software, and some factors to consider before you purchase. 

What Is Inventory Management Software?

Inventory management software is like a digital stock assistant that monitors your products, supplies, and sales trends. Once you’ve input the information, whether manually or through barcode scanning, the tool can track everything for you. The right integrated software tracks every item in your inventory so you never run out of supplies, and always have enough retail stock available for clients to purchase. 

If you’re looking to save time, stay organized, and meet demand, inventory software is a must-have. Some inventory management software may also automate tasks like reordering so you never have to scramble for last-minute shipments or struggle to find space for excess stock again – whether you’re juggling skincare products or salon tools.

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3 Benefits of Inventory Management Software

Inventory management software doesn’t just track your stock levels. It totally transforms how you run your self-care business. 

Here are three fabulous benefits to know:

1. Overstock prevention

Nothing’s worse than shelves full of products that won’t sell. They take precious space and tie up hard-earned cash. Inventory software helps you dodge overstocks by giving you real-time insights and setting automatic reorder points, which means you don’t have to place orders yourself. The system tracks what’s moving and orders accordingly so you only keep necessary items on hand. 

You won’t have a bunch of items sitting around collecting dust – just the goodies your clients can’t get enough of. Plus, avoiding overstock means perishable items, like skincare products, are less likely to spoil. It’s a win-win for your customers and your bottom line.

2. Better forecasting

Want to stay ahead of trends and keep best-sellers in stock? An inventory management system makes it easy to predict what will fly off the shelves and when. By analyzing sales data and spotting patterns, you can plan ahead for busy seasons, hot new products, or any trends taking off in the self-care world. With better forecasting, it’s easier to optimize purchases so you always have what your clients want in stock. No more guesswork – just smart, data-driven decisions that help you meet demand.

3. Improved profits

Inventory management software doesn’t just streamline stock tracking. It also helps you cut unnecessary expenses. By automatically monitoring stock levels in real time, you can avoid costly mistakes like over-ordering or paying extra for rush orders. With more precise inventory control, you save a pretty penny on storage costs and shipping fees.

Inventory software also boosts sales. Say your client’s skin is glowing after their facial, and they want to purchase the luxurious serum you used. You’ll know you have it in stock because the software tracks inventory levels and reminds you to reorder on time. You can make that sale and keep the profits rolling in.

8 Best Inventory Systems for Beauty & Wellness Businesses

Wondering which inventory systems for small businesses are the best? Here’s a list of our top picks:

1. GlossGenius

Say goodbye to juggling multiple systems and hello to streamlined efficiency. GlossGenius is an all-in-one platform for beauty and wellness business owners. With combined client management, accounting software, point-of-sale (POS), and inventory management features all in one place, it’s easier than ever to meet your business needs and keep operations running smoothly. 

GlossGenius’ inventory management tools automate inventory tracking and send you low-stock alerts so you never run out of best-selling products. You can also use a barcode scanner right from your phone to help you better manage your stock, and even replenish your supply at wholesale prices directly through the GeniusShop. Plus, you can generate reports on demand to help you track growth. GlossGenius offers all of this and more, starting at just $24 a month.

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2. Zoho Inventory

Zoho Inventory is a versatile inventory management solution that caters to a variety of industries, including beauty and wellness. With features like stock tracking, order management, and customer and vendor portals, it helps you keep your inventory organized and make sales. 

Zoho offers two paid plans: a Standard (starting at $25/month) and Premium (starting at $59/month). Zoho is great for e-commerce businesses – but if you make most of your sales in store, it might not be the right option for you. 

3. Vagaro

Vagaro is a cloud-based salon and wellness business management software. Its inventory management feature tracks stock levels for both your products and your retail products that update with every sale. You can use barcode scanning to make your input less manual, with automated reordering and the ability to manage retail loyalty programs. View sales trends along with your most (and least) popular products, plus inventory restock alerts and insightful inventory reports, all starting at $23.99 per month. 

4. Lightspeed

Lightspeed is a payments and POS platform that also offers inventory management software solutions for businesses that focus more on retail sales. Lightspeed helps with inventory tracking and automatic reordering. It also offers a B2B interface that makes it easy to find and manage suppliers. Lightspeed’s basic pricing plan starts at $89 per month, but doesn’t include inventory reports, mobile scanning, insights, or forecasting, making it less than ideal for new and smaller business owners or solo professionals. If you’re looking for software that’s geared more specifically toward managing services for salon and spa businesses, Lightspeed may not include everything you need. 

5. Mangomint

Mangomint’s salon and spa software offers retail features such as inventory tracking, purchase order creation, and sales reports. You can create inventory categories to make it easy to sort and search, plus, Mangomint will generate inventory levels, cost of goods, and provide commission reports from your product sales. With Mangomint, you can access convenient features like booking and client management, all from the same platform.

Mangomint’s pricing plans range between $165 and $375 a month. If your business has a limited budget or you’re just starting out, you may want to explore other options.

6. Meevo

Meevo’s salon and spa management software is a one-stop shop for inventory and client management needs. You can track stock levels, reorder inventory, and analyze sales all from a single dashboard. Turn your phone into a mobile barcode scanner and save time on data entry with smart product recognition, which allows you to document multiple-size product variants all on the same screen. Meevo also allows business owners with multiple locations to consolidate their inventory tracking to one place. Plus, you can designate floor locations for your retail products so you never have to guess (or remember) where you put them.

Currently, Meevo does not publicly list their pricing. Contact their sales team to get a quote. 

7. Square

Square started out as a payment processor and POS system, but now it offers other features, including inventory management. With Square’s free basic plan, you get access to an Item Library to help manage inventory and provide low-stock alerts. Square will also automatically create Stock Keeping Units (SKUs) and polish your product images to keep you neat and organized. If you want to track stock, costs, and product availability – or even sell product bundles – you’ll need to upgrade Square Plus for $49 a month. Square’s free plan also lacks basic inventory features like inventory history, barcode label printing, and inventory counting tools. 

8. Booksy

Booksy is primarily a booking platform for beauty professionals. With Booksy Marketplace, you can showcase your services and manage appointments. It also offers some basic inventory management features, like real-time product tracking (with storage locations) so you can see when you’re running low and never have to worry about over- or under-buying. Booksy’s plans start at $29.99 a month. 

3 Factors to Consider Before Implementing Inventory Management Software

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Before taking the plunge and paying for software, review these key factors to consider first: 

1. Inventory complexity

First things first – how complex are your inventory needs? If you’ve got a dazzling array of products with different categories, sizes, and colors, you’ll want software that can keep up. Also, consider how quickly your inventory turns over. Do you need to make large or frequent orders? Is managing your supply chain as chaotic as herding cats? The right software should save you time, slash costs, and help you keep customers happy. Opt for a solution that keeps everything in check.

2.  Software costs

Inventory software pricing varies wildly, so determine your budget and look for options that deliver the best bang for your buck. Make sure you understand what features come with each pricing tier so you don’t end up paying for extras you won’t use. And read the fine print – if there are additional fees, you’ll want to know about them ahead of time.

3. Ease of use

Last but definitely not least, consider how user-friendly the software is. You want something your team can pick up quickly without needing a Ph.D. in tech. An intuitive interface saves tons of headaches. Don’t waste precious time figuring out how to navigate your software when you could be busy pampering clients and growing your business.

Inventory Management Best Practices

Here, we outline some of the best inventory management practices for self-care business owners. 

Track inventory in real time

Getting real-time updates about your products and stock levels can be a game-changer for salons and spas. Imagine never running low on products again, or always knowing exactly what you need, when you need it. Real-time inventory tracking will keep you up-to-date and ensure your products are in-stock and ready to use (or sell). 

Categorize and organize products

Keeping your inventory organized will make it easier to search for what you need or check product levels, reducing the risk of stockouts or over-ordering. Along with enhanced efficiency, proper organization can help save you money and boost customer satisfaction. 

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Perform regular audits

Software that manages inventory for you can be a dream, but every program is susceptible to error – whether human or otherwise. Regularly check your systems for discrepancies to ensure your software is functioning as it should, or to identify any changes necessary to optimize your inventory turnover. 

Manage Your Inventory Effortlessly With GlossGenius

Inventory management software is an absolute game-changer for beauty and wellness businesses. It keeps your shelves stocked with the products your clients adore while saving you time and money.

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With GlossGenius, you can streamline inventory management like never before. Use barcode scanning to make tracking inventory a breeze, with automatic low-stock notifications to keep your beauty business stocked only with what you need. Along with our inventory tools, GlossGenius’s all-in-one platform is packed with integrated features like Online Booking, Reports & Analytics, and Client Management, saving you 10+ hours per week in admin time. 

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