Everybody makes mistakes. But when you’re starting up your own beauty business, mistakes cost money.
As an entrepreneur, there’s no way you can avoid every mistake along the road to success.
But take a look at the list below and you’ll swerve a few of the slip-ups beauty business owners commonly make in their first few years. Then your future will be as gorgeous as it can possibly be!
1. Not having a detailed business plan
Having a comprehensive business plan isn’t just a way to secure funding from the bank. It’s a really useful tool for you as you grow your business.
By completing your business plan:
- You get a clear idea of your target market and how to reach them
- You predict some of the challenges your business may face and are better placed to deal with them if they arise
- You work out how many clients you need to see in order to make a profit
- You set business goals and decide on the ways you plan to meet them
So get your beauty business ideas down on paper in the form of a detailed business plan. Then check in with it regularly. It will help to keep you on track in those early days.
2. Not hiring an accountant
This is one of those common business mistakes. When you’re just starting out an accountant may feel like an extra expense you just can’t afford. But getting an accountant on board can actually save you money in the long run.
Why? Firstly, you don’t need to spend hours of your valuable time learning about the tax system. And can instead spend that time seeing clients and making money.
Secondly, an accountant will help you to manage your finances in the most effective way. This can make the difference between your business sinking or swimming in its first year.
Consider an accountant one of your beauty business essentials and you’ll definitely see the financial benefits. Stunning!
3. Not thinking about branding
How do you want people to see your beauty business? Professional? Cutting edge? Luxurious? Calm? Vintage?
The right branding can communicate so much about your beauty business. So consider getting a branding or graphic design expert on board to create your logo, website and even the font you use in your signage.
Having a strong brand image will make your business stand out from the crowd and stick in the memory.
4. Not thinking carefully about the customer experience
Whether you’re planning to start a beauty business from home or you’re opening your own salon, you need to think carefully about the customer experience.
This is how your customers feel from the moment they walk through the door to the moment they leave. And it’s influenced by things like:
- The branding of your beauty business
- The décor
- The style of your customer service
- The mood you create in your salon or treatment room
You can get customer experience inspo by visiting other beauty businesses. Once you’re up and running, you can also get ideas from your customers by giving them a questionnaire and asking for their feedback.
A great customer experience will make clients feel relaxed and pampered. Which will lead to repeat business and recommendations.
5. Not having a marketing strategy
Speaking of recommendations… Word of mouth is a great form of advertising. In the first few months of running your beauty business, you could offer discount deals for customers who refer their friends.
But you can’t rely on recommendations alone. You need a marketing strategy that enables you to reach new customers and fill up that appointment diary.
So how and where can you promote your beauty business?
- You can build a strong social media presence and maybe run some social media ads too.
- You can advertise in local magazines or arrange reciprocal promotions with other local businesses.
- You can ask your customers to leave reviews online. A few five-star ratings will make people feel much more confident about booking an appointment.
Email marketing should also be a key part of your strategy. Build up your database with each new customer, collecting as much information as possible.
Knowing the age of your clients and the type of treatments they like will help you to send personalised, very effective emails that encourage repeat bookings.
6. Not investing in yourself
The most important part of your beauty business? You.
You might employ a few beauty therapists from the start. But whether you have a team or you’re going it alone – the ethos, treatment menu and customer service of your beauty business comes down to you.
The key takeaway? Don’t neglect your own professional development.
That might mean asking beauty industry questions of more established beauty business owners. Or doing an online beauty course to refresh your skills and learn on-trend treatments.
Consider avoiding these business mistakes and ensuring you’re constantly working on your beauty therapy skills and your beauty business will grow along with you.