The beauty industry is a hugely lucrative industry and currently has a market value of a massive £71 billion a year. However, while there is a lot of money to be made in this industry, that does not mean to say that it doesn’t come without its own challenges. Here, we are taking you through our top tips that you will need if you are looking to start your own beauty salon.
Having the Right Business Skills
With any start-up business, you will need to ensure that you have the right business savvy skills to make it a success. In the beauty industry, there are high start up costs, you’ll have employees to manage and there are also lots of rules and regulations that you will need to abide by, so it is vital that you have a firm grip on all these components. If you are trained in beauty, we would recommend taking a business course that will help you to effectively manage your business.
Be Aware of Rules and Regulations
As we mentioned above, it is important that you are on top of all the rules and regulations present in the beauty industry which can include insurance, qualifications and licensing. Health and Safety is also a large part of this industry and you need to make sure that all hazardous substances are dealt with appropriately.
Watch Your Budget
When starting up your own beauty salon, you will need to invest quite heavily before you start which includes everything from massage treatment products and gelish colours to the rent of the room that you are hiring as your premises. It is important that you have a budget in place and that you interact with lots of different suppliers for products and equipment to help you find the best deal. As a start up, you may also want to look into investing in second hand equipment as this will be more cost-effective and will be fine until your business is running and making profit for you to then invest in new equipment.
Grow Your Network
Before starting any new business, it is important that you carry out the appropriate market research so you can effectively target your local audience. This will also help you to decide what your pricing should be. Growing your network is the best way to attract new business and the internet now makes this easier to do than ever before. Setting up social media pages will allow you to showcase your talents, build relationships with potential clients and drive new customers through the door. Online word of mouth is one of the cheapest, easiest and most effective ways to get your brand out there.
Reputation is Everything
With the beauty industry, what it really ultimately comes down to is the service. If you are providing a poor service, word of this will get out and people just simply won’t return. The staff that you hire is hugely important and you will want to make sure that they are not only qualified but that they are also professional and friendly too.