If you’ve always dreamed of looking at a shopfront full of folded towels and glass bottles that belongs to you, there’s very little holding you back from starting your dream. The only things that will put a dent in your progress will be financial and practical planning. If you support yourself appropriately and seek the right advice, then the only barrier to success is your own confidence. With that in mind, here are a few things to consider before you start planning and stockpiling. Launching your own beauty business is possible, and read on for some tips for how to get there.
What should it look like?
When you pictured opening your beauty business, what did you imagine it looking like? If you want to exist in a physical shop, you need to take some time researching and planning the features you want to see inside. Taking a walk around other salons and spas is a great place to get contemporary design ideas, and think about how you’d put your own unique spin on it. If you were recently inspired by a visit to Thailand, how could you replicate that same holiday oasis feeling?
If it’s a product, then it’s wise to consider what design would accurately reflect your personality and what you want to say with the packaging. Being well prepared before you approach a builder or manufacturer is essential. If it’s an all-natural product, have a think about what logo would suit such a concept.
Do I have the funds?
If you have no savings put aside, then starting up your own business straight away might not be a wise idea. If you make a loss in the first year, you will need a rainy day fund to keep you high and dry while your product or venue continues to pick up customers.
Budgeting and financing
First thing’s first, before you put down any amount of money, make sure you are correctly licensed. The cost of having a business license varies from state to state so do your research on this first. Once you’re legally ready to go, you may need some financial help. Certification licenses must be issued in the same state as where your salon is based and then posted on premises. The total cost of obtaining certification will vary between specialties.
For all other financial issues, such as accounts and taxes, making the most of free consultations with financial advisors and your current account provider are the best places to start. It’s no secret that the overheads for a new business often require a loan to cover the costs of equipment, decorators and as we’ve just mentioned, licenses. This article may provide some ideas on finance options, but in the meantime, it’s key that you spend some time realistically estimating how much the entire project will cost.
While you’re trying to put your name about town, you will probably need to set some budget aside for business cards, flyers, and a website. If you’re not too confident in your own writing and designing skills, you might have to reach out to a freelancer’s website to hire a few people for the rate you can afford. However, in the initial phase, you might look to something such as Canva for your social media and leaflet needs. Online platforms such as this give you pre-made design tools that are easy to use, and a quick-and-easy go-to for putting up notices about offers and events.
Talking to fellow therapists or beauticians who have been in your position are the best people to start contacting. If you feel completely out of your depth, speak to someone who has also started from scratch. Having a mentor can be a real comfort when your project is about to take off. When things start coming to fruition, attend business events and fairs, and make sure you expose yourself to as many potential customers as possible.
Once you’ve had the first round of customers, ensuring that they post a review on something such as TripAdvisor or social media could be crucial to you getting new ones. Giving people your business card and reminding them to post a review not only shows them you take pride in your business, but also that you hope they return.
A good way to get people through the doors of your salon or getting your product into their hands is to do a limited-time offer. Ensure you make it sound exclusive to the time period and to them, and it will at least give people an incentive to try your product. If they’re happy with the outcome, then they might come back and be prepared to pay the full price of the product. Using coupon websites can also attract the attention of people who have never heard of your business before.
They say if you find your dream job, you’ll never work a day in your life. While there are bound to be highs and lows, being happy with turning up to your own business is mandatory to maintaining optimism and longevity. Once you start looking at the steps required to set up, some of the stress of finding qualified staff might put a temporary cloud above your head. Being enthusiastic and passionate about the business you’ve created will rub off on customers who approach you. A happy and friendly face will stick in visitors’ memories for all the right reasons, and might even earn you a few loyal devotees.
Starting your own business can be a truly scary step, but also incredibly rewarding. Leading a team and taking your own creative direction with an institution that belongs to you could be the best thing you ever do. Even if you have to stay in your current job while you save, keep your dream in sight. Once you’ve made your mind up to start something, who knows where the future will take you.