Starting up a new beauty business can be an exciting but stressful time. There are so many things to think about and it’s hardly surprising that many people make some mistakes along the way. So, we’re here to show you some of the common pitfalls so that you can avoid them when building your beauty business.
- Not enough detail in your business plan
You make a business plan for a reason – and it’s not just to secure funding. It should reflect everything you need to consider when setting up your business and, most importantly, how you’re going to grow your business in the future.
With a comprehensive business plan, you’ll be able to see:
- Your target market and the best ways to reach and engage with them
- What you need to do to make a profit – i.e., how many clients, how many services, etc
- The challenges you’re likely to face
- Your business goals and how you’re going to achieve them.
And don’t forget to refer back to your business plan regularly to keep you on track.
- Choosing to go it alone without an accountant
We get it! Hiring an accountant doesn’t come cheap and you’re probably looking at ways to save money as you establish yourself and your business. However, a good accountant can save you money in the long run. They’re the experts on the tax system and how to manage and account for your finances. So, let them take care of the money while you take care of your clients.
- Not creating a brand
Branding may be a buzz word, but your brand communicates so much about you and your business. Having a strong and consistent brand image will make your business so much more visible. You’ll stand out from the crowd and be instantly recognisable. If you’re not confident about creating your branding, seek professional help. Just like accounting services, it will pay for itself in the long run.
- Forgetting about the customer experience
You may be confident about the services you provide but what about your customer service and your customers’ experience of your business? Put yourself in your customers’ shoes and think about how they will feel from the moment they walk through your door until the moment they leave. Consider your décor, how you greet them, the mood/atmosphere in your salon or treatment room, your branding. Do they live up to your expectations as a customer? Remember a great customer experience means repeat business and recommendations – the two things that every business wants.
- Not having a marketing strategy
All businesses need customers. So how are you going to get yours? This is where you need a good marketing strategy. As we’ve said, repeat business and recommendations are key. So, you may want to consider some kind of loyalty scheme or a discount for recommending new clients. However, to attract new clients and keep existing ones, you’ll need to have a social media presence. Creating Facebook and Instagram profiles will enable you to promote your business, showcase your work, offer promotions and tips. You may want to consider local advertising too or asking customers to leave reviews online.
And don’t forget about your best marketing tool – you!
Following our tips above will help you to avoid the most common mistakes made by new businesses but as you get established, don’t forget to invest in yourself. You are your biggest asset, so make sure you stay up to date with the latest trends and invest in your professional development by signing up for one or more of the beauty courses online offered by us here at Bela Beauty college.