How to Start a Successful Beauty Business in 2017

Starting your very own business can be one of the most exciting and stressful times in your life. Before you even open your salon’s doors, there’s a number of things you can do to ensure your hair or beauty business has the best chance of success.

With this in mind, we at Phorest have compiled a list of seven essential tips to consider before setting out on your new venture.

Business Plan

Before setting up your beauty business, it’s important to ensure you invest the time and effort into compiling a solid business plan which includes all of your market research, business objectives and financial forecasts.

Besides being useful for loan applications, this document will cement your company’s short, medium and long-term goals. Remember to set achievable business targets, aiming to become a world-renowned franchise in your first year is all well and good but let’s be realistic.

In conjunction with your market and competitor research, establish what type of services and treatments you’ll be providing and at what cost. Be sensible with projected revenue figures and don’t forget day-to-day business costs like utility bills, business rates and staff wages.

Location, Location, Location

Once you’ve put your business plan together, it’s time to find the right premises. Whether renting or buying, it’s important to find a location that meets all of your needs, as well as those of your customers.

How to Start a Successful Beauty Business in 2017

First, establish what amenities are a priority, is off-street parking essential? Or would a central location, with no parking, be more beneficial? Then, take foot traffic, visibility and size into consideration. Make sure there’s enough space for stylist chairs, additional services and therapy rooms if desired.

Embrace Technology

It’s time to wave goodbye to your trusted rolodex and invest in a laptop and Phorest’s specialised salon software solution. Embracing technology can be daunting but we promise it’s not as difficult as it seems and it will maximise your business’ reach.

By moving your salon’s bookings online, you’ll have all of your clients’ previous treatments, styling preferences and contact details to hand – you can even make note of their beverage choice! Tea, two sugars please.

How to Start a Successful Beauty Business in 2017

All of this extra information will allow you to become a master of brand promotion and client retention. With Client ReConnect you can target past customers with ready-made SMS or email messages and encourage them to make another online booking.

The beauty (pardon the pun) of choosing Phorest as your salon management system is there’s even the option to develop your very own salon-branded app, which means your clients can reach you 24 hours a day, 7 days a week – hooray!

Don’t Spend Frivolously

We understand the excitement that surrounds starting a new business, but remember to stick to your business plan and reel in unnecessary purchases. While it can be tempting to buy the latest equipment or decorate with luxurious furnishings, remember that the first couple of months will be filled with uncertainty.

How to Start a Successful Beauty Business in 2017

Instead, budget for advertising and marketing opportunities and get your salon’s name out there. A strong social media presence is a great way to get your business in front of your key demographic. Speaking of which…

Social Media

Social media is your salon’s most powerful tool when it comes to reaching current and potential clients. Sites such as Facebook, Twitter and Instagram are the perfect platforms for showcasing your salon’s services as well as boosting brand loyalty.

By regularly posting photos, inspirational articles and competitions, you’ll encourage your fans to interact with your page, which in turn increases engagement and the number of ‘likes’. More visual forms of social media, like Instagram, are ideal for beauty businesses. Post photos of finished hair styles, nail art or even videos of make-up tutorials to keep your fans engaged.

Don't forget your offline marketing too; a great loyalty program can get clients back more often, spending more and generating referrals.

Hire Wisely

By now you’ve found the perfect location for your business and you’re giving Mark Zuckerberg lessons on Facebook advertising, but there’s still one thing missing… staff. How to Start a Successful Beauty Business in 2017

When hiring, it’s essential that any potential employees meet the required skillset, but remember to hire people who are just as passionate about the industry as you. Staff who are dedicated to their trade will be committed workers and have a creative edge, which means happy customers.

Don’t Panic

When the diary isn’t as full as it should be, it can be tempting to advertise discounts but before you do, be aware of the potential damage it can cause. Using price as a way to attract new clients will usually attract the wrong people – especially in the beauty business.

A small percentage of customers actually base their decision to book on price and those who do, rarely turn into repeat customers. Know the value of the service you provide and instead of offering discounts, focus on promoting popular treatments and enriching customer service.

To find out more about Phorest’s salon software, visit http://www.phorest.com


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