How To Start A Successful Salon & Spa Business?
Do you know? The beauty industry is one industry that continues to grow even in a slow economy. As per the market research, the salon and spa business brought in more than $50 billion of revenue in the year 2019.
Do you know? The beauty industry is one industry that continues to grow even in a slow economy. As per the market research, the salon and spa business brought in more than $50 billion of revenue in the year 2019. The market is consistently growing and making it an outstanding opportunity for those who are dedicated to the beauty business.
Although starting a salon and spa business has its own challenges, but it is worth working for. If you are also planning to start a salon and spa business from scratch, there are some essential things you need to consider. Let's get started now.
Step: 1 Draw a Blueprint of your Business
Before starting any business, you need to have a clear picture of your business in mind. Meaning – you should know what you want from your business at the end of the day. You can begin with a brainstorming session by asking yourself the following questions:
What services to offer?
There are various kinds of salon and spa such as – hair salon, nail salon, makeup salon, beauty spas and so on. There are also different services that you can offer like – acupuncture, retail products, meditation, etc. So, have clarity about your services and then decide what will you offer to your customers.
What is my target audience?
Be clear and precise about your customers. Do you want elite class customers or reach out to the normal broader community? Do you want a specific niche such as – Kids, Bridals, or Unisex?
What makes my salon different?
It is not only what you serve but how you serve also matters. You have to aim for brilliance in all the areas of your business to stand out in the market. What do you want your customers to remember about your salon? Is it the ambience? The hairstylists or beauticians? Your customer service? You need to have a vision of what your business should be remembered for.
Step: 2 Set a Budget
Once you have a clear picture of your business, the next thing is to set up all the finances. The budget may vary particularly from size to size and location to location. E.g. If you are starting with a home-based salon, it will cost you a few thousand dollars, but if you aim to start in an elite location it will add up to a few more hundreds of thousands. Make sure you have all the finances in place to get your business off the ground.
Step: 3 Have a Business Plan
A business plan should be designed in a concrete manner where you do not leave any page unturned. You have to have a plan that describes everything from your goals to the final results. Start planning with the following things.
- Define your ultimate goal - How you want your future salon to be like in a few years?
- Resources that you need to achieve your goal.
- Set daily targets to achieve specific goals.
- Transparency in finances – how much do you have? How much will you spend? How would you grow?
Step: 4 Get Licenses and Permits
Based on the size and location of your salon business, you need to get business licenses and permits along with other legal documents. For this, you can check or consult with the local government or business advisor who will help you get through this heavy process.
Step: 5 Setting up the whole Inventory
After getting done with all the legal documentation, you need to buy furniture and products to sell. You will need a reception desk, beauty equipment, waiting area sofa, and other furniture to decorate your salon. Besides this, you'd need a product unit to showcase your products, service stations like – beauty beds and massage tables, etc.
Step: 6 Hire Skills
Hire a dedicated and skilled team that can handle a variety of customers on their own. Keep yourself focused on the target customers before hiring people because this will always help you improve the profitability of your salon business. Make sure, your staff should be talented enough to give your customers a desirable experience and they should be efficient in consultation because this would give a personal feel to your customers.
Step: 7 Design a Marketing Plan
Before designing a marketing plan, it is important to understand the market first. Learn about market trends and how things work in the beauty industry. When you have a comprehensive idea, you can plan both online and offline marketing. Make the most of social media channels like – Facebook, Instagram, Twitter, and online business listings to reach out to your target audience.
Make sure you get a website of your salon and its services because these days customers look for online validation and how actively you are participating online.
Step: 8 Launch your Brand
Since you have everything in place now, it’s time to land your salon business off the ground. Select a date for the launch event at your salon or some kind of special promotion that could help your customers know that You exist. You can also invite social media influencers for the event, and give them special offers and services. Lastly, ask them to promote your brand on their social media channel to their hundreds of thousands of audience.
To make a striking hit and balancing everything, you can invest a little in smart and scalable Salon and Spa Software. Through CRM-module, the software can handle every area of your salon and spa business such as - pre-booking and scheduling, staff reporting and payroll, inventory tracking, and automated accounting that ensures customer satisfaction, robust business management and ultimately extensive growth and profitability.
Dear Beauty Entrepreneurs, now go and make people fall in love with your salon!
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.