Issue link: https://www.ascpskindeepdigital.com/i/968907
www.ascpskincare.com 65 researching product lines. Distributors, manufacturers, employees, and the media are quick to offer an opinion about what line your spa should carry. However, you must make the final decision based on the end user, product results, sales support, and the kinds of educational assistance available to you. Educate yourself first about your marketplace, and you will make the right choice for your business. When choosing a brand, consider how it meshes with your spa's identity. Does the brand speak to your clients or the type of clientele you hope to capture? Find out how long the manufacturer has been in business. If you are starting out in the spa industry yourself, buy from companies that have been around for at least 5–7 years. Research the reputation of each product line being considered. It is important that a product delivers what it promises. In addition, a stable, reputable line brings with it a built-in customer base that will drive sales. Such a line will increase your credibility and enhance your professional image. Finally, properly representing a product range enhances the professional credibility of your spa and further develops its theme and brand. You will increase inventory turnover and cash flow. A good rule of thumb is that your inventory should turn over a minimum of eight times per year. OTHER CONSIDERATIONS New products and treatments stimulate interest and growth, which will result in increased sales for your spa. Opt for a product line that invests in research and development. A manufacturer that operates its own lab is at the forefront of the industry, creating and exploring new innovations in cosmetics and esthetics development. A manufacturer that offers a rewards program will maximize your profits, be it via a points system, a flat discount for purchasing in bulk, or complimentary displays and marketing materials. Finally, education should be available on all levels. This can be provided on site at a manufacturer's training center or at trade shows. Retailing is a simple but crucial way to expand your business and increase profits. Don't be reluctant to invest in this important area. With these sales techniques, the products will move and generate greater revenue. Owners who choose not to retail, or are unaware of how to do it effectively, are not only losing money, but are also limiting their growth potential in the process. The moral of the story is that there is something to sell to every client. It's your job to listen and recommend a maintenance program that best suits each individual's lifestyle. Your clients will look and feel great. And who will they thank? You! A good rule of thumb is that your inventory should turn over a minimum of 8 times per year. Notes 1. Sarah Schmidt, "Global Skincare Market to Reach $135 Billion by 2021," MarketResearch.com, March 22, 2017, accessed April 2018, https://blog.marketresearch.com/global-skincare-market-to-reach-135-billion-by-2021. 2. Linda Harding-Bond, "How Training Can Help Hospitality CEO's Holiday Headaches," Huffpost, September 18, 2015, accessed April 2018, www.huffingtonpost.com/linda-hardingbond/ how-training-can-help-hospitality-ceos-holiday-headaches_b_8156738.html.