Beauty Basics – Starting and growing a business in beauty
In an age where looking and feeling good is big business, if your passion is helping others make the most of their personal appearance; here are a few simple steps to bear in mind for success in the beauty industry.
Know your stuff
Much like the fashion industry, trends in beauty treatments are ever changing. In our constant quest for eternal youth, soft glowing skin, luscious locks, perfect nails and a well – toned body to match (for some at least), there are a fast growing range of products and treatments emerging onto the market daily.
In order to gain customer confidence and loyalty, beauticians, make – up artists, nail technicians and hairdressers alike, all need to stay abreast of the latest trends in their industry.
Regular training, attendance at industry events, periodicals and beauty Trade Associations are all great ways to find out about the next big thing in beauty and hair care.
Understanding customer preference is of equal importance. Great customer service makes all the difference in keeping them coming back for more. Satisfied customers are also most likely to make recommendations to family and friends.
Disrupt and Diversify
Like with most businesses, customer incentives and rewards are also a great way to attract and retain customers. You can also gain competitive advantage by finding new ways to disrupt the local market place through creative branding, advertising and diversifying products / services.
In 2018, some of the leading emerging beauty treatments include micro blading, fat – melting injections, Derma fillers, anti – aging DNA treatments, eye brow tattoos, laser skin tightening and nail art.
Introducing new products / services does not need to be time consuming, something as simple as collaborating with a local wedding planner to offer wedding preparation services for brides to be, renting a chair to a newly graduated nail technician or collaborating with a local make – up artist and photographer to offer make over days, can make all the difference.
For businesses with a little more capital to spare, developing your own brand of products is also an option. Whether you have spent years perfecting your own formulas, which have been through the relevant tests, and are ready to market, or by purchasing a range of white label skin care, hair care and beauty products and marketing them using your own branding. By carrying out research to understand your customer needs, it is possible to introduce new revenue streams that generate significant income for your business.
Of course, this does not guarantee overnight success or that you will become the next Vidal Sassoon, but with hard work and determination, it can pay off.
Manage Micro Moments
If website and social media management is not your thing, its’ time for a change. Research shows that digital marketing is now one of the leading forms of advertising for most businesses.
Having a website does not have to be expensive there are many free templates and web building platforms to choose from complete with online booking and payment capability. With a little time patience and perseverance, you can build your own site at very little cost within a matter of days.
Of course, the key to online marketing success does not begin and end with creating a good website. You also need to drive traffic to the site to enable potential customers to learn more about your products and services.
Research shows that small businesses that invest more time in social media marketing achieve greater success online.
Quite often small business owners struggle to find new and engaging content to post online. By managing micro moments it is possible to think about the key actions taken by potential customers when looking to purchase goods and services online and create messages that appeal to them in that moment. In other words, “think like your customers” and make the first ten seconds count in your digital marketing.
Be Finance Savvy
Ultimately managing finance to key to the success of any business. Keep an eye to costs and expenses. If thinking about business expansion, do your homework and make sure the time is right. Speak with your accountant or seek other professional advice regarding financial planning. Spending too much can mean sizable loan repayment and or lower cash reserves / contingencies for a rainy day. Spending to little can mean there is insufficient capital to realise potential.