Here are the top 10 things you can’t ignore if you want to start your own beauty therapy business.
Starting your own beauty therapy business requires some serious planning. We have put together a list of ten things you need to think about when you start your own beauty therapy business.
1. Capital and equipment
Before starting a beauty therapy business, or any other business for that matter, you need capital and a business plan to get that business off the ground. You may need a loan or an investor to fund your initial costs. One of your biggest initial costs, as a beauty therapy business, will be investing in suitable equipment for your studio. To find out more about how to finance your business, consider reading 8 Tips for Securing Finance for Your Small Business.
Register and create a separate bank account for your business. You need to keep detailed records of all your transactions by logging your income and expenses and maintaining a client list. You might want to consider hiring an accountant, or enrolling in a bookkeeping course if you can’t afford to hire an accountant. File all your documentation, keep all receipts and make sure your records are up to date.
Professional training, practical skills and theoretical knowledge are all important for a practicing beautician or beauty business owner. You can maintain a competitive advantage by learning new methods, techniques or treatments, so it is valuable to consistently develop your skill set. If you are looking to start or further your education in beauty therapy, you might be interested in enrolling in a beauty therapy course.
4. Working with people
People skills should be second nature to beauty therapists, as they work with clients on quite a personal level. If this is your line of work, you should enjoy talking to people, and your clients should feel comfortable with you. As you apply make-up to their faces, wax their legs or massage their muscles, you must remain professional while also making sure your client feels at ease. Build up personal relationships of trust with your clients through friendly conversations. Get to know them.
5. Knowledge of treatments
You will need to develop pricing plans for the different treatments that you offer. You can start by finding out exactly what each treatment costs and, from there, decide on your markup. It’s vital to consider what your range of services will be. This will include what you’ve been trained in, but it’s also dependent on your vision for your business. Would you prefer to specialise in one area or expand your services to offer a wider range?
6. How to sell products
As a beauty therapist, your job will include promoting and selling products. It’s helpful to be a talented salesperson in this business, as selling products can increase your profit margin. Ask yourself: which brands do you want to associate your business with? Consider how much product you should keep in stock, but remember that this might change. As your business grows, you will need to re-evaluate this.
7. Your own venue
You have options in terms of your venue. If you decide to work from home, you will need to set up a sectioned-off, professional space that accounts for client privacy. Also, you can’t ignore the legalities of running a business from home, so make sure that you inform the right people and apply for a licence. Alternatively, you could rent a space and pay the monthly costs. Consider factors such as noise, parking, bathroom facilities and maintenance.
8. A tranquil atmosphere
You simply cannot overlook the importance of a calming, stress-free atmosphere.
After all, your clients come to you to be treated and pampered. It’s up to you to create the perfect environment to allow them to unwind. This goes beyond keeping your space clean and professional. Play soothing music but be aware of the volume, keep in mind that lighting should be effective but not too harsh, and consider burning essential oils for a pleasant and relaxing experience. Remember to provide towels and gowns to keep your clients comfortable at all times.
You must know your competitors. This means knowing their venue locations, their services, their products, their marketing strategies and their prices. When naming and branding your business, ensure that your business name hasn’t already been taken. Decide on your image and advertising strategy. Do you need a website and social media presence? Create events and promotions when you launch your business. Stay aware and competitive by checking for changes and trends in the industry. Examine how and why your competitors have been successful or unsuccessful.
There are various areas of specialisation within the beauty therapy field. Some of the roles include nail technicians, hairdressers, make-up artists, massage therapists and wax artists. The most successful beauty therapy businesses create a one-stop-shop for all their clients’ beauty needs. For business expansion, consider collaborating with other beauty therapists who specialise in different areas. This could lead to fruitful partnerships and growth.
If you have found this blog post helpful and would like to know more about the beauty therapy business world, consider reading this blog post on How to Start Your Own Beauty Salon.