Did you know that about one out of three small businesses fail within the first two years of operation? If you’re fresh out of a cosmetology school and your dream is to eventually put up your own business, how can you make sure that you won’t fall under the statistic? It all boils down to learning as much as you can about the industry. Of course, the right timing, a bit of luck and a lot of hard work also comes into the mix – but there are plenty of other things that you can do to ensure the success of your business venture.
Ways to Ensure the Success of Your Salon & Hair Spa Business
Whether you’re straight out of a cosmetology school or if you have long been an employee and you want to start your own business, here are the ways to ensure the success of your salon and hair spa:
• Why put up such a business in the first place?
No matter what type of business it is that you wish to put up, it’s important to determine the reason why you would want to run it in the first place. If you’re a hair stylist, is putting up your own business and earning a profit part of your retirement plan? If so, what are your long-term goals? If your goal is simply to make people feel good about themselves, that’s a good goal as well. Next, you need to put in the work necessary to, well, make it work.
• Location, location, location.
Although there are some salons and hair spa businesses that succeed despite being in tucked away locations, why would you make it harder for yourself? By choosing a suitable location that’s easily accessible to as many clients as possible, you can increase your chances of success.
• Create a solid business plan.
A good business plan serves as a map of what you need to do to turn your business into a success. It indicates where the location is, how many people you will hire as staff, the menu of services you are offering to clients, your mission statement, where you would like to see the business in five years or so, etc. It basically serves as a guide on what you need to do every step of the way.
• Hire the right staff.
For starters, you’d need to hire a salon manager or you can fulfil the role yourself as owner. You also need a shampoo or salon assistant, a hair stylist, a colorist, and a makeup artist. If you want, your salon later on so that you can also offer nail and body services. Your hiring options range from those who are graduates of cosmetology school to the already skilled professionals who are in between jobs.
• Effectively promote your business.
Prior to the launch, you need to spread the word about your brand. How will you tell people that your business actually exists, what your rates are, and why they should pay you a visit. The good news is that with social media, you can launch a full-blast online campaign to promote your business without having to spend too much on advertising.
• Work on client retention.
Finally, the only way that your salon and hair spa business will succeed is if clients are satisfied with the service. They’re paying for quality and convenience. They expect cleanliness, comfort, safety, and friendliness from the staff. Those who are coming in to have their hair styled expect the stylists to know about the latest trends in the beauty industry.
By working on client retention and all the other previously mentioned factors, you can turn your salon and hair spa business into a resounding success.