Getting a beauty bar up and running is a whole other level of hard work compared to starting a company.
Beauty bars help clients present themselves and look their best during events or occasions. Even during economic recessions, the beauty salon business tends to stay strong.
Starting your beauty bar takes tremendous effort, financial backing, and time. Once you have decided to spend all of those, you need to know a few things before opening up your beauty bar.
#1 What should you know before opening a beauty bar?
In this post, we’ve compiled a list of things you’ll want to read and know about beauty bars before starting one.
Do beauty bars make good money? Defining your goals and plans for the business future before you embark on the journey is the best strategy. It is essential that you know the earning potential for a beauty bar. Although it is not possible to put the earning potential in numbers, it is said that the career growth of the personal appearance industry is expected to rise by at least 13% by 2026.
Even with a pandemic in 2021, the personal appearance industry will still do well. Considering how much people care about their appearances, it’s no wonder that beauty bars make decent money.
#2 Know the market
You have to consider not just your customers but other factors, such as their comfort, tastes, requirements, and the newest trends. An analysis of the market is the first step. Find out who your target market is, grasp it, and study your competition.
This will help you understand what services your competitors provide in their beauty bars and how to provide a better service. Because if you offer anything below them or just the same services they offer, you may find it difficult to compete unless you have a USP.
#3 Think of a concept
Generally, beauty bars have a mild yet inviting atmosphere. Each time a customer visits your beauty bar, they want to leave feeling refreshed. Considering the services that a beauty bar offers – like massages, manicures, styling, etc., you’d want a place where people can relax and feel good.
Besides interior design and customer service, it is important to consider how your employees deal with your customers, if they will wear uniforms, etc., all of which contribute to creating a concept.
The other aspect of building a concept is to determine who your target customers will be. The four choices are economic, business, premium, and luxury.
#4 What does a beauty bar consist of?
Before you begin your journey as a beauty entrepreneur, you will need to have a list of furniture, equipment, products, and materials and their average costs. Your beauty bar will require a lot of professional equipment, which will cost a lot of money.
While you may be able to invest in second-hand furniture, most products will need to be brand new. Choose a reputable supplier when purchasing back bar products.
Moreover, you will need equipment for cleaning, coffee machines, drinking water, and other non-beauty-related items.
#5 Should you buy or rent the property?
One of the most confusing steps is having to choose between two options. In making the decision, various factors can be taken into consideration, such as the price of the property, rent prices, loan details, and financial standings. While most beauty bar owners rent a part of the property or a part of a bigger beauty bar, it entirely depends upon your financial ability and plans for the near future.
If you are still unsure, you can use the buy vs. rent calculator. The calculator allows you to compare prices based on various inputs such as property prices, monthly rent, or appreciation rates. You get two options: a basic and advanced calculator to help streamline the process of figuring out which is more beneficial: renting or purchasing the property.
#6 An easy-to-reach location
You can’t have a successful and growing beauty bar without the right location. As much as your customers appreciate an easily accessible location, you can also make things more convenient for them. Ideally, find a location where your customers can park their cars or a location where wheelchairs are accessible.
#7 Hiring the right employees
A thorough process should be followed when hiring employees. Ultimately, the success of your business will depend on how well you serve your customers. Not only will you need employees who are skilled and know what they are doing, but also it is equally important as to how they treat the customers. Staff members will include receptionists, managers, stylists, etc. You can either hire separate people for every role or hire people who can work for more than one role, depending on your business budget.
As you now know most of the basics, you can create a business plan for your beauty bar. An online presence is another tool that can help your beauty bar business grow. You can keep your customers informed about your prices and services by having a website or social media profile.