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Tip1: Conduct Through Market Research

Understanding your local market is crucial. Analyze competitors to identify what they offer and find gaps that your salon can fill.

Just because there is competition, it doesn’t mean you can’t be successful and have your rightful share of the pie.

If you know you have a unique flair, a unique style, an eye for detail or special talent for client relationship management that others are not offering? Don’t let it go to waste – that can be your differentiator and your competitive advantage. Do you offer massage while playing exclusively Taylor Swift Hits instead of Tibetan Bowl Music? Anything associated with Taylor Swift seems to turn into success these days 🙂

Maybe the only other acupuncturist in town only works mornings. What about those who spend time at the office all day and need somebody who offers evening appointments?

Determine your target audience’s needs and preferences by researching the latest trends in the beauty industries.

Tip2: Create a Comprehensive Business Plan

A solid business plan is essential for securing funding and guiding your business decisions.

Include key components such as an executive summary, market analysis, organizational structure, services offered, marketing strategy, and financial projections. Set clear and realistic short-term and long-term goals. This is often the stage where talented beauty professionals give up because they lack the knowledge or confidence to develop a business plan.

The good news is you don’t need to produce a business plan that resembles the complexity of a L’Oreal deciding to expand into new international markets. A simple, clear and well thought out business plan is a great place to start. It will help you validate some assumptions you have, spot some areas you need to pay more attention to or invest a bit more time, and will also help stimulate some new ideas as you perform market research. It also doesn’t have to be done in a day. Take some time to research, think, sleep on it, revisit and get advice from other professionals or those with business experience. You’ll find that many entrepreneurs are only too happy to help others take their first steps.

Check our Business Plan template and example here which you can use as a starting point. We’ve also got our own proprietary Profits Calculator to help you with the financials.

We’re even here to help you craft your own Business Plan for new members of the Style en Suite community, as well as always being there to provide ongoing business coaching.

Style en Suite provides marketing guidance and a complimentary booking/POS system, which can be integrated into your business plan for efficient operations and revenue tracking.

Tip3: Choose the Right Location

The location of your new salon or beauty business can significantly impact its success. Consider factors like proximity to residential areas with demographics that align with your target clientele.

This will lead to better chances of your new brand being discovered by the right people, who want to spend money with you. How is the vehicle and foot traffic at the location you’re evaluating ? Try to find a location with high visibility and a good amount of traffic, but balance that with accessibility, and parking. Clients will be put off if they spend 30 minutes stuck in traffic on their way to an appointment, only to find they have to park another 10 minute walk away due to insufficient availability or overpriced parking.

Style en Suite’s prime location in Farmingdale, NJ, offers ample parking and light-filled suites with state-of-the-art amenities, making it an ideal setting for attracting clients. The designated quiet area for non-hair services ensures a serene environment for specialized treatments, enhancing client satisfaction.

Tip4: Invest in Quality Equipment and Products. The little things make a big difference.

High-quality equipment and products are crucial for delivering excellent services and ensuring client satisfaction. It can be very expensive to rent a space that you need to renovate or update.

Unless your brand market positioning is low-end, no frills, with a cheapest in town brand promise then you need the quality facilities, equipment and amenities that make your clients feel comfortable and are willing to pay for. Environment is hugely important in the beauty services industry, including comforting sensory experiences that stimulate the endorphins. Little details such as water pressure and temperature go a long way when your clients are evaluating whether they had a good experience or not.

Style en Suite offers premium tilted backwash bowls, quartz countertops, and custom soft-close cabinetry, demonstrating the importance of investing in quality. Remember, a well-equipped salon reflects professionalism and attracts a loyal clientele.

We'd Love to Support You on Your Journey to Success

Starting your own beauty business is a journey that requires careful planning and execution. By conducting thorough market research, creating a comprehensive business plan, choosing the right location, and having access to quality equipment and amenities, you can set your salon up for success.

At Style en Suite, the seamless setup, ongoing support, and thriving community have empowered beauty professionals to turn their dreams into reality. Take these essential steps, invest in your passion, and watch your salon flourish.

Start Your Journey Are you ready to start your own salon? Share your thoughts or ask questions in the comments below. Subscribe for more tips and insights on running a successful salon and join us at Style en Suite, where your growth is our growth