Starting a business may sound daunting to many. Let us face it, the pre-launch work it requires, the challenges that lay ahead, and making your place in a flourishing market is not a piece of cake.
Opening up a beauty shop that can transfer your skills into beautifying people may sound lucrative, but it is not as easy as it sounds.
Choosing to open up a beauty shop is a safe bet provided you have a know-how of your skills, have a good working staff and, have the confidence to seep into a highly-competitive market. According to a study, the beauty industry generates around $60 billion each year. We all know that people will keep on frequenting beauty shops no matter what!
Any business, whether it is a small startup or a big venture requires a lot of research work and. You have to get the knack of the business strategy you will be using to win the market and all the challenges that you need to take care of in your journey in doing so.
Check out these 5 steps to give you an idea about how to set your own beauty shop.
- Create a concrete business plan:
Writing a business plan helps in giving you a solid idea about your objectives and how to achieve these objectives.
A good business plan will include everything that a salon owner needs to take care of before setting up the business.
Think of the niche you are going to take up for your beauty shop, or you want to offer all the services under one roof. Both ideas will require different executions.
Survey the market and get an idea about the state of competition in the market. Know where your competitors lag, and this is where you need to target and strike
Take care of your finances. How much will be required, where will the funding come from, and how are you going to utilize the money. Make a priority list.
Once you are done with the business plan, you will notice that everything else will start falling into their right places. Your game plan is ready! Start moving.
- Take care of the basics:
The basic step in any business startup is of acquiring the license. You need to do thorough research and know the laws of setting up a beauty shop in your area. The licenses and permits are not only required for you to start up the business but also to keep a check on your and your clients’ safety.
Knowing the limits in your business way ahead saves you from a lot of trouble in the later stages. Your researches tell you what you are allowed to do and what you are not. In addition, you get an idea about the proper ways of getting things done.
These are some of the common licenses, regulations, and permits required for salons:
- Salon license
- Cosmetology license(s)
- Employee Identification Number (EIN)
- Building permit
- OSHA requirements
- Reseller permit in case you are thinking of selling beauty products
- Work permits for all your employees
- Choose a concept for your business:
This is the most important part of your business planning, and it will greatly affect how your business shapes up. Your business needs to have a concept. Decide if you want it to offer all the beauty services under one roof or if you want to target a particular niche. If you choose the latter, you should have personal expertise in that niche. It is said that setting up a business in a particular niche is very easy as it narrows down your stakes and challenges. You have to target a slim market and clientele, and you can easily establish your mark in a small market. It also lets you pinpoint and rectify your errors. However, a beauty shop on a large scale offering many types of services has its own benefits. You are sure to get a healthy footfall and chances are fat that a client coming for one service will be tempted to get a package containing a few more too.
Once the concept has been finalized, choose the area you want your beauty shop to start in. see if the area has a lot of beauty shop already. Your marketing plan depends upon this. In the case of too many existing beauty shops in the same vicinity, you will have to advertise accordingly. If the area you intend to open up a shop does not have any such shops, the task of attracting clients becomes relatively easier.
Next, decide how you are going to stand out in your market. Know about the weaker areas of your competitors and work strategically. If no beauty, other beauty shop has a baby care area, think about having own in yours. That would be a bliss for mothers having young kids. You can also establish a small food kiosk. Long beauty procedures may render your clients hungry. These are just some ideas to get you going. Think and see what you can do to make your beauty shop a hit.
- Set the beauty shop:
On the road to furnishing and planning the setting up of your beauty shop, it is highly recommended that you hire professional help. Things handled professionally come with a lot of advantages. The space of your shop will be optimally utilized, giving enough privacy and breathing room.
When it comes to acquiring professional beauty appliances and furniture, contact distributors who deal in wholesale, tapping the market for second-hand goods is not a bad idea. You can search and buy good, conditioned used items. Here is a brief list of items that would be needed in a beauty shop.
- Furniture:comfortable chairs for the customers plus for the waiting area, reception desk, hair and nail workstations, a massage bed.
- Equipment:beauty tools. Professional curlers, straighteners, hairdryers.Consider buying a low budget coffee machine and electric kettle.
- Backbar products: anything that the professionals working at the salon might need.It depends on the services provided at the salon.
- Other materials:uninterrupted supplies of tea, coffee, and snacks.
- Introduce your shop in the market:
After everything else has been taken care of, and you are ready to set your foot in the business, plan a soft launch of your beauty shop. Invite your friends and family, and anyone you might think may help in circulating the good about your new shop.
Advertise as much as you can in a way that fits your budget. You can take the help of social media influencers to gain popularity.
Another way of introducing your services is by letting your potential clients experience it for themselves. Plan giveaways and discounted packages in the initial months of your business. This will prove helpful in kickstarting your venture.
Last but not least. Honest and loyal efforts never go in vain. A happy and satisfied customer will always come back asking for more, and in this case, is bound to bring a few more customers too. Believe in yourself and invest true efforts. People are always interested in going to places that make them comfortable.
The key factor in the success of any business lies in its capability of evolving with time. You need to be vigilant of the new technologies in the market and adapt your business accordingly.