Mistakes and learning as you grow is all part of the journey for new business owners.
Trial and error is a great way to gain experience but in an effort to save you the hassle of costly mishaps, here are some common slip-ups made by new beauty salon entrepreneurs that can be easily avoided:
Don’t overspend on stock
When you go to purchase skincare stock don’t be fooled by the sales promise that you will easily earn back your investment by opting for a particular product. Research what skincare brands work well and are great value for money. Clients are less willing to fork out big money on ‘wonder’ creams and are more likely to shop around for a reasonably priced alternative that produces results so invest in products that meet this demand. A lot of new salon owners fall for the big sales pitch and end up forking out thousands of pounds on stock they can never sell.
Not focusing on money-making beauty treatments
Every month a new ‘must have’ beauty treatment emerges. It is easy to get carried away with providing clients with the latest ‘in’ thing but don’t forget to stick to the basics and provide these basics to the highest possible standard. Your beauty salon won’t fail just because it’s not offering the newest fad but it certainly won’t succeed by ignoring the bread and butter treatments of waxing, manicures and facials.
Pumping money into ineffective marketing
It is easy to get carried away on the promotional side when you first open the doors to your new beauty salon. Trying to get people in the door is obviously a major concern in the first few months of existence but try to avoid pumping money into marketing efforts that don’t necessarily work. Too often, beauty owners will spend big bucks in online marketing without measuring the results. How do you know if this is the right form of marketing for your business if you don’t track the outcome? Be smart and analyse marketing spend vs. new business.
Investing in the wrong relationships
After you have developed a steady customer base, don’t forget about these reliable clients that you worked so hard to maintain. Too many salons put all their energy and time into bringing in new clients instead of concentrating on the ones they have. Learn who your regular customers are and remember to treat them well and reward them for their repeat custom – a blasé attitude will only send them looking for a new salon.