Starting your own beauty business can be a fantastic step in your career and for many, is the first step on the way to becoming a beautician or beauty consultant in a variety of fields.
Becoming your own boss and creating your own company can be easier than you might expect if you take the right steps along the way. When it comes to beauty businesses, there are five steps to consider, which will help you get your business off the ground.
You will need to consider everything from your areas of expertise to whether you need to borrow money online (source: Kallyss), from a business bank or otherwise to give you the financial injection you need to get the venture off the ground.
Steps To Starting Your Own Beauty Business
Some of the first and most important steps and decisions you will need to take will likely include needing to:
- Decide what products you will sell or services you will provide
- Create your unique brand
- Develop a pricing strategy
- Brush up on the laws surrounding your business
- Get to marketing
Depending on what type of beauty business you are starting, there may be other steps to take before launching your company. For example, if you’re opening a salon, you will need to find an ideal space to work out of.
What Products Will You Sell and What Services Will You Provide?
If you want to start a business selling beauty products, you will need to work out which items you will provide. You may wish to sell homemade beauty and skincare products or resell already established products. Alternatively, you may be a service provider, offering services like laser hair removal, tattoo removal and more to customers in your local area.
When deciding what products you will sell, take into consideration whether you want to create a luxury or affordable beauty business.
If for example you are becoming a freelance hair or make-up artist, you will need to establish which services you will provide. Following your passion is always the best advice when deciding how to focus your beauty business.
Creating Your Beauty Brand
Naming your business and creating a logo and style for your brand will help it stand out in a busy market. Try to find a unique selling point for your beauty business.
Consider what makes your products or services better than another company’s and why clients should use you over your competitors. Understanding your unique brand will also help when it comes to marketing.
How To Price Your Business’ Services
The next thing to work out is how to price your products or services. When considering your price point, ask yourself:
- How much do your competitors charge for similar products or services?
- Are you building a luxury or affordable brand?
- How much profit would you make from each sale?
- How much personal income will you be able to generate from your business?
Business Laws
If selling your own products, you will need to make sure you are complying with cosmetic regulations. You will also need to make sure that any business premises you lease or purchase are up to scratch and comply with commercial regulations (source: ProperEaze). It is important that any premises you operate from is permitted to be used for the required function.
As a business owner, you are ultimately responsible for ensuring that your products comply with the industry laws. You will therefore need to research the manufacturing processes, labelling practices and safety assessments required for your products.
As a freelance technician, you may consider getting public liability insurance. This type of cover will compensate you financially if a client takes legal action against you for any reason relating to your work.
Marketing Strategy
Online and social media marketing will be a large part of creating a successful small business. But word-of-mouth marketing and networking also should not be forgotten.
The first step should be building a business website and creating social media accounts for your company. If your business provides beauty services, your social media account can act as a portfolio for your work, which you will need to become a freelance artist or technician.
Remember to stay diligent about posting content regularly across all your social media platforms. Instagram and Facebook business pages are integral parts of marketing strategy, but you may also want Twitter, Pinterest or YouTube accounts.
Beauty YouTubers have had a massive effect on the industry, and a dedicated following can make or break a brand. You may be interested in starting a beauty blog as part of your marketing strategy. While you may not make money off your blog (unless you monetise it through ads/affiliate marketing), creating an online presence is sure to boost interest in your business.
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