8 Tips For New Beauty Professional Business Owners

Welcome to the suite life! Starting a business in the beauty industry can be an exciting and rewarding endeavor, but it also comes with its fair share of challenges. From finding clients to managing finances, there are many aspects to consider when starting a new beauty professional business. 

As a new business owner, it can be overwhelming to navigate these challenges on your own. That’s why we’ve compiled a list of tips to help new beauty professionals get started on the right foot. Whether you’re just starting or looking to take your business to the next level, these tips can help you at any point in your business. 

1. Have a Solid Business Plan

This tip is more so for individuals who haven’t started their business yet and are looking to break into ownership. Having a well-structured business plan will help you stay organized and focused on your goals. It will be easier to track progress on these goals with specific plans that outlines potential steps and resources. It will also help you secure funding if you need it.

An aspect of creating a business plan is also knowing your target market. This will be especially crucial when it comes to marketing your business, but it is also important when you are creating your space, to think about your target market. If you are unsure about what a target market is or how to go about planning for one, ask similar businesses or do your own research. 

Think about who your ideal customers are and cater your services to their needs. This will help you stand out in a crowded market.

2. Get Your Finances Straight 

As a business owner, you need to keep track of your expenses, revenue, and profits. Ask any accountant and they’ll tell you– itemize, itemize, itemize! Creating a separate bank account for business expenses is crucial to staying organized and getting your finances straight. Your business-related expenses like rent, supplies, advertising, etc., can be itemized. Anything that you use to keep your business running can be itemized (this will be important for tax purposes).

Knowing what you will potentially need to pay monthly can help you budget for future expenses. It can also help determine the number of clients (or services) you need at a minimum. Part of being your own boss is pricing your business the way you want. You want to be fair but competitive enough to compete with other salons in the area. 

Additionally, you can use tools like accounting software to help you stay organized and make informed financial decisions. And don’t forget to keep track of your receipts! 

3. Invest in Quality Equipment & Products

The tools and products you use are a reflection of your business. Depending on if you own the building or are renting a private salon suite, there may be equipment and products that are included in your lease. Otherwise, researching equipment and products that fit your aesthetic and values is a great place to start.  

The beauty industry is constantly evolving, so it’s important to stay informed about the latest trends and advancements. This can include the latest skin or hair technologies, new demographic research, or just new ideas for marketing content. Attend conferences, workshops, and seminars to keep your skills and knowledge up-to-date. Investing in high-quality equipment and products will ensure that your clients receive the best possible experience.

4. Know Your Insurance 

Understanding your insurance policy and what coverage is included can save you a lot of time before any incidents or accidents occur. If you are scooping the market for an insurance policy, look for one that covers all your needs. This can include furniture, equipment, and even security. It may also be beneficial to understand how claims are handled in the event you need to file an insurance claim. 

This is also a good time to understand your liabilities as a salon owner and what types of obligations you have to your clients. For instance, if an accident were to happen at your salon that caused someone to have an allergic reaction, you need to know how to legally handle this situation. Creating paperwork that exempts from certain liabilities can be very helpful (even if it is never utilized). 

5. Build a Strong Online Presence 

Facebook, Instagram, Tiktok, oh my! It is a no-brainer that in today’s digital age, having a strong online presence is crucial. If you haven’t already, you should start figuring out a marketing strategy that aligns with your needs and your target market. As mentioned before, your target market is going to drive your business, and understanding how to reach these individuals may start with your marketing strategy. 

If you aren’t the most social-media-savvy person, there are plenty of social media and digital marketing agencies who are willing to help. Digital marketing agencies can help make sure you have a professional website, relevant social media accounts, and regularly post engaging content.

Additionally, learning to automate small things for your business can cut down time and expenses. This can be as simple as monthly subscriptions to supplies you need or using a scheduling system that syncs to your phone/computer. But social media isn’t the only way to network… 

6. Network with Other Professionals 

Networking with other beauty professionals can help you build relationships, learn new skills, and gain new clients. Social media will help out passively but networking with others can help out proactively. Join a local networking group or simply visit other professional salons and introduce yourself. You never know who you are going to meet! 

7. Build Strong Relationships & Create Referal Program 

Caring about your clients and providing services that make others feel good is one of the reasons you do what you do. The more time you invest in developing relationships with your clients, the more your clients will appreciate your services and maybe even recommend your business. 

A few regular customers can increase your revenue compared to constantly overturning new customers. It’s also important to keep track of how frequently your clients are visiting. Are visits increasing or decreasing? Do you need to add on services? Your customer service and commitment to client relationships can make or break your business. 

Word-of-mouth marketing is one of the most powerful forms of advertising. Encourage your satisfied clients to refer their friends and family (or leave an online review) by offering incentives such as discounts or free services. You can even start a “regular customer” program that offers a free service for however many visits they make. At the end of the day, the goal is customer satisfaction. 

8. Be Confident & Don’t be Afraid to Ask for Help 

Starting and running a business can be overwhelming, but remember to stay confident! It may take some time to gain customers, so try to remain patient and dedicated to the process. Embrace the learning curves and don’t get discouraged by mistakes (no one is perfect). 

As independent as humans can be in their endeavors, don’t be afraid to ask for help when you need it. Reach out to mentors, industry experts, and other professionals for guidance and support. You can do this! 

Consider Renting a Salon Suite

Here at Avery & Birch salon suite rentals, we offer beauty professionals comprehensive luxury suites. With three levels to accommodate multiple layouts of salon suites, there is plenty of room for long-term or short-term rentals until you have your own salon space. 

Additionally, we offer on-site laundry, lounge areas on each floor, free WiFi, and in-house marketing for an additional fee. We also are working on getting our on-site coffee/juice bar finalized so you and your clients can enjoy some drinks on the outdoor patio!

Not sure if a salon suite is right for you? Contact us today with any questions and reserve your suite right away!