. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Business - Starting YourOwnBusiness
but for any outside parties who may need to view the document. “A business plan is essential if you need to borrow money, but is also great for you to remind you of your goals and see how much you have achieved,” says Marie-Louise.
“A good business plan is a winning game plan,” adds Lydia. “However, a weak plan is a recipe for disaster because it will fail to garner the interest of the bankers and investors you hope to influence, nor convince them of the credibility of your vision.”
If writing your plan seems like daunting task and you’re unsure of where to begin, why not attend a course, workshop or seminar? These can not only help you formulate your strategy but also provide you with a better understanding of the overall practicalities of becoming a business owner.
Additionally there are many publications available with valuable tips and insights often produced by individuals who have experienced setting up their own business. For example, Lydia has recently published her own book, Success At Your Fingertips: How to Succeed in the Skin Care Business.
Invest for success
From purchasing stock and equipment to printing marketing material, before any new business can make a profit, you will have to spend before you recoup. You might be in the fortunate position of having funds readily available, but if not then you may need to raise capital either through a loan or investment. Always be realistic about how much you can afford to borrow. Sit down and do your sums – calculate your estimated outgoings, how much you will need to charge your clients and how many treatments you’ll need to perform per week to cover your overheads. Visit your bank and speak to an advisor about small business loans in order to gain valuable professional advice.
When you’re first starting out, the sensible course of action is to initially offer a small number of services. This will allow you to slowly expand, introducing new products and treatments over time as your clientele and monetary situation increases. If you’re not already in possession of your
kit essentials, many companies offer starter packages with all the items you need to help you get underway.
So, what should you consider when taking the plunge and investing in a brand or product range? “With so many brands on the market choosing one that fits the needs of your client as well as being economical to a [business] can be a minefield,” explains Lee Moore, Lena White Ltd Mobile Educator. “My advice is to look around and see what there is on offer and what support and guidance brands can offer you. It is always easier to bring in a brand when you are starting up, but make sure that they will offer you product training, that way you find out ingredients, how to use them, how to price them, how to retail them and great hints and tips from professionals who use the brand every day.”
Magic marketing
Transforming a great idea into a fully functioning and successful venture requires attracting a dedicated and loyal clientele. When you’re just starting out, marketing and communicating with potential customers is a vital part to guaranteeing longevity. You can do this through various channels – flyers, posters, print or online advertising, websites, social media etc.
“Have a marketing plan for the first 12 months and review it for the following year to see what was effective and what wasn’t,” recommends Marie- Louise. “The correct advertising and marketing are so important because you need to create a brand image and awareness of what your business is and what it offers.
“You need to build a brand so use a logo, certain colours, certain styles of writing etc. This is the first part of your brand building – the second part is creating the experience once the client comes through the door.”
If you haven’t the time, funds or skills to initially invest in your own website, then Facebook and Twitter are inexpensive, easy and effective ways in which to heighten the awareness of your beauty business. Most people are familiar with these platforms, so why not get these accounts set up in your business name and then add the links to any advertising or promotional material. You can then Tweet and post to let people
Liz McKeon offers her 10 important tips for running a
successful salon 1. Surround yourself with positive people and keep negativity out of your life – it is amazing howmuch money you can earn when you love what you do.
2. Under promise and over deliver with you clients.
3. Be organised.
4. Take pride in your appearance and in the appearance of your salon.
5. Compliment people, staff and clients sincerely.
6. Treat everyone who walks in your door as a potential client.
7. Don’t worry about lack ofmoney – instead work onmakingmoney.
8. Be open to new and innovative ideas.
9. Be completely honest and ethical in every dealing you have.
10. Take time out to relax and recharge your batteries.
know about your treatments, free appointment slots, special offers and any upcoming events.
Don’t give up!
At times it may be stressful and you may feel like giving up, but don’t despair! Creating a business from scratch is hard work, but watching it flourish into your dream can give you the ultimate satisfaction, both professionally and personally.
“Owning your own business is hard work, costly (to begin with), tiring and all-consuming but it is probably the most rewarding thing I have ever done,” comments Marie Louise. “It takes a self-motivated and resilient person to own a business. Remember this - a successful person never gives up, so if it is what you really want then neither must you!”
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